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Endo Manufacturing swings to profit in fiscal Q2

Endo Manufacturing Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥14.82 per share, compared with a loss of ¥3.15 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥129.4 million, compared with a loss of ¥27.5 million in the prior-year period.

The normalized profit margin climbed to 4.0% from negative 0.8% in the year-earlier period.

Total revenue declined 10.1% on an annual basis to ¥3.27 billion from ¥3.64 billion, and total operating expenses declined 17.3% from the prior-year period to ¥3.06 billion from ¥3.70 billion.

Reported net income totaled a loss of ¥23.0 million, or a loss of ¥2.63 per share, compared to a loss of ¥378.0 million, or a loss of ¥43.30 per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to ¥122.78.