New Art Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to 34 Japanese sen per share, compared with a loss of 55 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥112.5 million, compared with a loss of ¥110.6 million in the prior-year period.

The normalized profit margin rose to 4.2% from negative 7.4% in the year-earlier period.

Total revenue grew 78.9% year over year to ¥2.67 billion from ¥1.49 billion, and total operating expenses increased 48.9% year over year to ¥2.48 billion from ¥1.67 billion.

Reported net income came to ¥141.0 million, or 42 sen per share, compared to a loss of ¥43.0 million, or a loss of 22 sen per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to ¥124.29.