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Digital Adventure swings to profit in Q1

Digital Adventure Inc. said its first-quarter normalized net income came to 57 Japanese sen per share, compared with a loss of ¥9.21 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.1 million, compared with a loss of ¥50.0 million in the prior-year period.

The normalized profit margin climbed to 0.4% from negative 13.1% in the year-earlier period.

Total revenue increased on an annual basis to ¥883.0 million from ¥381.0 million, and total operating expenses climbed 90.4% from the prior-year period to ¥874.0 million from ¥459.0 million.

Reported net income came to ¥3.3 million, or 55 sen per share, compared to a loss of ¥83.0 million, or a loss of ¥15.28 per share, in the year-earlier period.

As of May 13, US$1 was equivalent to ¥119.08.