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Skylark Q1 profit climbs 76.2% YOY

Skylark Co. Ltd. said its first-quarter normalized net income came to ¥17.98 per share, an increase of 71.7% from ¥10.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.51 billion, a gain of 76.2% from ¥1.99 billion in the year-earlier period.

The normalized profit margin increased to 4.1% from 2.4% in the year-earlier period.

Total revenue climbed 5.0% on an annual basis to ¥86.20 billion from ¥82.12 billion, and total operating expenses grew year over year to ¥79.84 billion from ¥77.61 billion.

Reported net income rose 97.1% from the prior-year period to ¥3.56 billion, or ¥18.26 per share, from ¥1.81 billion, or ¥9.51 per share.

As of May 14, US$1 was equivalent to ¥119.24.