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Snow Peak Q1 profit climbs YOY

Snow Peak Inc. said its normalized net income for the first quarter came to ¥4.90 per share, a gain from 10 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥68.8 million, an increase from ¥1.3 million in the year-earlier period.

The normalized profit margin climbed to 3.4% from 0.1% in the year-earlier period.

Total revenue increased 29.5% on an annual basis to ¥2.02 billion from ¥1.56 billion, and total operating expenses increased 23.2% on an annual basis to ¥1.90 billion from ¥1.54 billion.

Reported net income came to ¥47.0 million, or ¥3.35 per share, compared to a loss of ¥28.0 million, or a loss of ¥2.13 per share, in the year-earlier period.

As of May 12, US$1 was equivalent to ¥108.72.