AUTOWAVE Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of ¥5.10 per share, compared with a loss of 30 sen 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 ¥73.8 million, compared with a loss of ¥4.4 million in the year-earlier period.
The normalized profit margin dropped to negative 3.6% from negative 0.2% in the year-earlier period.
Total revenue decreased 13.1% on an annual basis to ¥2.07 billion from ¥2.38 billion, and total operating expenses decreased 8.9% on an annual basis to ¥2.20 billion from ¥2.41 billion.
Reported net income totaled a loss of ¥192.0 million, or a loss of ¥13.29 per share, compared to a loss of ¥12.0 million, or a loss of 83 sen per share, in the year-earlier period.
As of Nov. 14, US$1 was equivalent to ¥116.46.
