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Digital Adventure swings to loss in Q3

Digital Adventure Inc. said its normalized net income for the third quarter came to a loss of 69 Japanese sen per share, compared with ¥8.40 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 ¥3.8 million, compared with income of ¥45.6 million in the year-earlier period.

The normalized profit margin fell to negative 0.7% from 4.7% in the year-earlier period.

Total revenue fell 42.9% on an annual basis to ¥556.0 million from ¥973.0 million, and total operating expenses fell 38.0% on an annual basis to ¥559.0 million from ¥902.0 million.

Reported net income totaled a loss of ¥7.0 million, or a loss of ¥1.29 per share, compared to income of ¥72.0 million, or ¥13.26 per share, in the year-earlier period.

As of Nov. 11, US$1 was equivalent to ¥122.91.