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Diamond Electric fiscal Q2 profit climbs 39.2% YOY

Diamond Electric Mfg. Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 came to ¥190.26 per share, an increase from ¥181.66 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥456.0 million, an increase of 39.2% from ¥327.6 million in the year-earlier period.

The normalized profit margin rose to 3.2% from 2.6% in the year-earlier period.

Total revenue increased 13.8% year over year to ¥14.45 billion from ¥12.70 billion, and total operating expenses rose 13.6% from the prior-year period to ¥13.81 billion from ¥12.15 billion.

Reported net income increased 76.4% year over year to ¥561.0 million, or ¥234.07 per share, from ¥318.0 million, or ¥176.33 per share.

As of Nov. 14, US$1 was equivalent to ¥116.46.