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Haba Laboratories fiscal Q1 loss widens YOY

Haba Laboratories Inc. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥37.81 per share, compared with a loss of ¥13.03 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 ¥148.8 million, compared with a loss of ¥51.3 million in the prior-year period.

The normalized profit margin fell to negative 5.6% from negative 1.8% in the year-earlier period.

Total revenue fell 6.4% on an annual basis to ¥2.66 billion from ¥2.84 billion, and total operating expenses came to ¥2.89 billion, compared with ¥2.91 billion in the year-earlier period.

Reported net income totaled a loss of ¥199.0 million, or a loss of ¥50.59 per share, compared to a loss of ¥99.0 million, or a loss of ¥25.17 per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to ¥102.44.