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Albert Inc. swings to loss in Q1

ALBERT Inc. said its first-quarter normalized net income was a loss of ¥4.32 per share, compared with ¥6.95 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥9.4 million, compared with income of ¥15.0 million in the year-earlier period.

The normalized profit margin declined to negative 4.0% from 5.0% in the year-earlier period.

Total revenue fell 22.2% on an annual basis to ¥235.0 million from ¥302.0 million, and total operating expenses decreased 8.1% on an annual basis to ¥249.0 million from ¥271.0 million.

Reported net income came to a loss of ¥15.0 million, or a loss of ¥6.91 per share, compared to income of ¥21.0 million, or ¥9.73 per share, in the year-earlier period.

As of May 13, US$1 was equivalent to ¥109.14.