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Techno Alpha swings to loss in fiscal Q1

Techno Alpha Co.Ltd. said its normalized net income for the fiscal first quarter ended Feb. 29 was a loss of ¥15.57 per share, compared with ¥4.34 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥27.5 million, compared with income of ¥8.8 million in the year-earlier period.

The normalized profit margin dropped to negative 5.3% from 1.3% in the year-earlier period.

Total revenue decreased 24.7% on an annual basis to ¥518.0 million from ¥688.0 million, and total operating expenses declined 16.1% on an annual basis to ¥577.0 million from ¥688.0 million.

Reported net income came to a loss of ¥27.0 million, or a loss of ¥15.29 per share, compared to income of ¥1.0 million, or 50 sen per share, in the prior-year period.

As of April 8, US$1 was equivalent to ¥108.37.