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Wood Friends swings to loss in fiscal Q2

Wood Friends Co. Ltd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, was a loss of ¥19.00 per share, compared with ¥111.44 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 ¥27.9 million, compared with income of ¥163.5 million in the prior-year period.

The normalized profit margin dropped to negative 0.4% from 2.1% in the year-earlier period.

Total revenue climbed year over year to ¥7.72 billion from ¥7.61 billion, and total operating expenses increased 6.1% on an annual basis to ¥7.70 billion from ¥7.26 billion.

Reported net income totaled a loss of ¥36.0 million, or a loss of ¥24.54 per share, compared to income of ¥171.0 million, or ¥116.55 per share, in the year-earlier period.

As of Jan. 13, US$1 was equivalent to ¥118.49.