IZUMI Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 amounted to ¥58.44 per share, a gain from ¥57.21 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.20 billion, a decline from ¥4.27 billion in the year-earlier period.

The normalized profit margin fell to 3.0% from 3.2% in the year-earlier period.

Total revenue climbed year over year to ¥140.48 billion from ¥134.50 billion, and total operating expenses increased 5.1% from the prior-year period to ¥133.77 billion from ¥127.32 billion.

Reported net income fell on an annual basis to ¥4.10 billion, or ¥57.02 per share, from ¥4.16 billion, or ¥55.70 per share.

As of July 15, US$1 was equivalent to ¥101.70.