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Micronics Japan fiscal Q1 profit falls YOY

Micronics Japan Co.Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to ¥6.91 per share, a decline of 41.1% from ¥11.74 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥275.3 million, a decline of 41.0% from ¥466.9 million in the year-earlier period.

The normalized profit margin dropped to 3.8% from 7.0% in the year-earlier period.

Total revenue increased 9.9% on an annual basis to ¥7.29 billion from ¥6.63 billion, and total operating expenses increased 11.2% on an annual basis to ¥6.55 billion from ¥5.89 billion.

Reported net income declined 37.2% from the prior-year period to ¥439.9 million, or ¥11.05 per share, from ¥700.1 million, or ¥17.61 per share.

As of Feb. 8, US$1 was equivalent to ¥115.75.