Pacific Net Co. Ltd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, amounted to ¥4.35 per share, a decline of 35.7% from ¥6.76 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥22.5 million, a decrease of 35.7% from ¥35.0 million in the year-earlier period.
The normalized profit margin dropped to 2.1% from 3.8% in the year-earlier period.
Total revenue climbed 18.9% on an annual basis to ¥1.09 billion from ¥913.0 million, and total operating expenses climbed 22.3% from the prior-year period to ¥1.05 billion from ¥862.0 million.
Reported net income declined 34.4% from the prior-year period to ¥21.0 million, or ¥4.06 per share, from ¥32.0 million, or ¥6.18 per share.
As of Jan. 14, US$1 was equivalent to ¥116.84.
