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Tamron Q2 profit falls YOY

Tamron Co. Ltd. said its normalized net income for the second quarter amounted to ¥30.20 per share, a decline of 32.3% from ¥44.63 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥782.5 million, a decline of 36.1% from ¥1.23 billion in the prior-year period.

The normalized profit margin declined to 4.2% from 6.6% in the year-earlier period.

Total revenue declined year over year to ¥18.42 billion from ¥18.64 billion, and total operating expenses increased year over year to ¥17.23 billion from ¥16.74 billion.

Reported net income decreased 39.7% on an annual basis to ¥822.0 million, or ¥31.72 per share, from ¥1.36 billion, or ¥49.65 per share.

As of Aug. 11, US$1 was equivalent to ¥124.86.