Resorttrust Inc. said its normalized net income for the fiscal first quarter ended June 30 came to ¥18.47 per share, a decrease of 31.2% from ¥26.84 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.95 billion, a decline of 25.9% from ¥2.63 billion in the prior-year period.
The normalized profit margin dropped to 7.1% from 9.6% in the year-earlier period.
Total revenue came to ¥27.56 billion, compared with ¥27.34 billion in the year-earlier period, and total operating expenses rose 5.6% on an annual basis to ¥24.56 billion from ¥23.25 billion.
Reported net income grew 18.0% year over year to ¥1.92 billion, or ¥18.12 per share, from ¥1.62 billion, or ¥16.55 per share.
As of Aug. 8, US$1 was equivalent to ¥101.85.
