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Daytona swings to loss in Q1

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Daytona swings to loss in Q1

Daytona Corp. said its first-quarter normalized net income amounted to a loss of ¥9.80 per share, compared with ¥1.07 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 ¥20.6 million, compared with income of ¥2.3 million in the year-earlier period.

The normalized profit margin declined to negative 1.6% from 0.2% in the year-earlier period.

Total revenue increased 7.7% year over year to ¥1.26 billion from ¥1.17 billion, and total operating expenses rose 10.0% year over year to ¥1.29 billion from ¥1.17 billion.

Reported net income came to a loss of ¥33.0 million, or a loss of ¥15.68 per share, compared to a loss of ¥6.0 million, or a loss of ¥2.85 per share, in the prior-year period.

As of May 13, US$1 was equivalent to ¥109.14.