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Cross Plus fiscal Q1 loss narrows YOY

Cross Plus Inc. said its normalized net income for the fiscal first quarter ended April 30 came to a loss of ¥87.21 per share, compared with a loss of ¥141.45 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 ¥638.1 million, compared with a loss of ¥1.03 billion in the year-earlier period.

The normalized profit margin climbed to negative 3.8% from negative 5.6% in the year-earlier period.

Total revenue declined 9.5% on an annual basis to ¥16.87 billion from ¥18.64 billion, and total operating expenses decreased 12.0% year over year to ¥17.91 billion from ¥20.34 billion.

Reported net income came to a loss of ¥888.0 million, or a loss of ¥121.36 per share, compared to a loss of ¥1.09 billion, or a loss of ¥148.83 per share, in the prior-year period.

As of June 13, US$1 was equivalent to ¥102.08.