Daido Metal Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥24.41 per share, compared with ¥24.20 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥972.3 million, compared with ¥963.8 million in the prior-year period.
The normalized profit margin declined to 4.9% from 5.4% in the year-earlier period.
Total revenue grew 12.3% year over year to ¥19.92 billion from ¥17.74 billion, and total operating expenses grew 13.0% from the prior-year period to ¥17.91 billion from ¥15.86 billion.
Reported net income decreased 20.7% on an annual basis to ¥1.07 billion, or ¥26.77 per share, from ¥1.34 billion, or ¥33.74 per share.
As of Aug. 8, US$1 was equivalent to ¥101.85.
