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Cross Plus fiscal Q2 loss narrows YOY

Cross Plus Inc. said its normalized net income for the fiscal second quarter ended July 31 came to a loss of ¥66.80 per share, compared with a loss of ¥116.34 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥488.8 million, compared with a loss of ¥851.3 million in the prior-year period.

The normalized profit margin rose to negative 3.1% from negative 5.1% in the year-earlier period.

Total revenue declined 6.0% year over year to ¥15.82 billion from ¥16.82 billion, and total operating expenses decreased 8.8% from the prior-year period to ¥16.65 billion from ¥18.26 billion.

Reported net income totaled a loss of ¥692.0 million, or a loss of ¥94.57 per share, compared to a loss of ¥1.07 billion, or a loss of ¥146.37 per share, in the year-earlier period.

As of Sept. 16, US$1 was equivalent to ¥107.19.