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Toshiba swings to profit in fiscal Q2

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Toshiba swings to profit in fiscal Q2

Toshiba Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 was ¥8.73 per share, compared with a loss of 4 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 ¥36.97 billion, compared with a loss of ¥157.9 million in the year-earlier period.

The normalized profit margin climbed to 2.2% from negative 0.0% in the year-earlier period.

Total revenue grew 5.7% year over year to ¥1.700 trillion from ¥1.608 trillion, and total operating expenses increased from the prior-year period to ¥1.609 trillion from ¥1.573 trillion.

Reported net income came to ¥35.87 billion, or ¥8.47 per share, compared with a loss of ¥639.0 million, or a loss of 15 sen per share, in the prior-year period.

As of Nov. 11, US$1 was equivalent to ¥115.82.