Owari Precise Products Co.Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥88.64 per share, a gain of 15.2% from ¥76.91 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥102.5 million, an increase of 15.2% from ¥89.0 million in the prior-year period.

The normalized profit margin climbed to 2.6% from 2.3% in the year-earlier period.

Total revenue climbed on an annual basis to ¥3.97 billion from ¥3.79 billion, and total operating expenses climbed 5.8% from the prior-year period to ¥3.85 billion from ¥3.64 billion.

Reported net income rose 38.0% year over year to ¥127.0 million, or ¥109.82 per share, from ¥92.0 million, or ¥79.50 per share.

As of Aug. 5, US$1 was equivalent to ¥124.99.