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New Art fiscal Q2 loss narrows YOY

New Art Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of 19 Japanese sen per share, compared with a loss of 59 sen 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 ¥37.5 million, compared with a loss of ¥107.5 million in the year-earlier period.

The normalized profit margin rose to negative 1.9% from negative 5.3% in the year-earlier period.

Total revenue decreased year over year to ¥1.97 billion from ¥2.04 billion, and total operating expenses fell 9.8% from the prior-year period to ¥2.00 billion from ¥2.21 billion.

Reported net income totaled a loss of ¥110.0 million, or a loss of 55 sen per share, compared to a loss of ¥236.0 million, or a loss of ¥1.28 per share, in the prior-year period.

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