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Fujitsu fiscal Q1 loss narrows YOY

Fujitsu Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥3.44 per share, compared with a loss of ¥5.71 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 ¥7.11 billion, compared with a loss of ¥11.81 billion in the year-earlier period.

The normalized profit margin climbed to negative 0.7% from negative 1.1% in the year-earlier period.

Total revenue fell 7.4% year over year to ¥986.55 billion from ¥1.065 trillion, and total operating expenses declined 8.7% year over year to ¥997.77 billion from ¥1.092 trillion.

Reported net income came to a loss of ¥14.14 billion, or a loss of ¥6.84 per share, compared with a loss of ¥19.14 billion, or a loss of ¥9.25 per share, in the year-earlier period.

As of Aug. 2, US$1 was equivalent to ¥100.95.