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Asti fiscal Q1 loss widens YOY

Asti Corp. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥23.75 per share, compared with a loss of ¥23.38 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 ¥80.6 million, compared with a loss of ¥79.4 million in the prior-year period.

The normalized profit margin increased to negative 0.9% from negative 1.0% in the year-earlier period.

Total revenue increased 11.4% on an annual basis to ¥8.92 billion from ¥8.01 billion, and total operating expenses grew 10.1% on an annual basis to ¥9.01 billion from ¥8.18 billion.

Reported net income totaled a loss of ¥90.0 million, or a loss of ¥26.52 per share, compared to a loss of ¥145.0 million, or a loss of ¥42.71 per share, in the year-earlier period.

As of Aug. 8, US$1 was equivalent to ¥101.85.