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Ten Allied swings to loss in fiscal Q1

Ten Allied Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 77 Japanese sen per share, compared with ¥1.97 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 ¥20.0 million, compared with income of ¥51.3 million in the prior-year period.

The normalized profit margin fell to negative 0.5% from 1.3% in the year-earlier period.

Total revenue came to ¥3.95 billion, compared with ¥3.94 billion in the year-earlier period, and total operating expenses increased on an annual basis to ¥3.97 billion from ¥3.86 billion.

Reported net income totaled a loss of ¥59.0 million, or a loss of ¥2.27 per share, compared to income of ¥58.0 million, or ¥2.23 per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to ¥124.86.