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Tein fiscal Q1 profit climbs 35.6% YOY

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Tein fiscal Q1 profit climbs 35.6% YOY

Tein Inc. said its normalized net income for the fiscal first quarter ended June 30 was ¥14.20 per share, an increase of 35.6% from ¥10.47 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥73.8 million, an increase of 35.6% from ¥54.4 million in the prior-year period.

The normalized profit margin rose to 6.3% from 6.3% in the year-earlier period.

Total revenue increased 35.6% year over year to ¥1.17 billion from ¥860.0 million, and total operating expenses rose 38.2% from the prior-year period to ¥1.06 billion from ¥767.0 million.

Reported net income increased 29.3% from the prior-year period to ¥75.0 million, or ¥14.44 per share, from ¥58.0 million, or ¥11.17 per share.

As of Aug. 7, US$1 was equivalent to ¥124.28.