Shoei Co. Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, amounted to ¥18.83 per share, an increase of 13.1% from ¥16.66 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥259.4 million, a gain of 13.1% from ¥229.4 million in the year-earlier period.
The normalized profit margin rose to 10.0% from 8.7% in the year-earlier period.
Total revenue fell year over year to ¥2.59 billion from ¥2.64 billion, and total operating expenses fell 6.0% year over year to ¥2.11 billion from ¥2.25 billion.
Reported net income grew 19.3% from the prior-year period to ¥272.0 million, or ¥19.75 per share, from ¥228.0 million, or ¥16.56 per share.
As of Feb. 13, US$1 was equivalent to ¥118.68.
