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Murata Manufacturing fiscal Q1 profit climbs 50.3% YOY

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Murata Manufacturing fiscal Q1 profit climbs 50.3% YOY

Murata Manufacturing Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥109.49 per share, an increase of 49.8% from ¥73.09 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥23.18 billion, a gain of 50.3% from ¥15.43 billion in the year-earlier period.

The normalized profit margin rose to 10.6% from 8.0% in the year-earlier period.

Total revenue increased 13.2% on an annual basis to ¥217.99 billion from ¥192.58 billion, and total operating expenses increased 8.0% from the prior-year period to ¥181.09 billion from ¥167.64 billion.

Reported net income grew 54.0% year over year to ¥26.93 billion, or ¥127.19 per share, from ¥17.48 billion, or ¥82.82 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.