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OM2 Network fiscal Q1 profit falls YOY

OM2 Network Co. Ltd. said its normalized net income for the fiscal first quarter ended April 30 came to ¥36.77 per share, compared with ¥37.14 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥250.6 million, compared with ¥253.1 million in the year-earlier period.

The normalized profit margin dropped to 2.9% from 3.0% in the year-earlier period.

Total revenue grew year over year to ¥8.57 billion from ¥8.38 billion, and total operating expenses climbed from the prior-year period to ¥8.23 billion from ¥8.01 billion.

Reported net income increased 8.4% from the prior-year period to ¥233.0 million, or ¥34.18 per share, from ¥215.0 million, or ¥31.54 per share.

As of June 13, US$1 was equivalent to ¥102.08.