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Oomitsu swings to profit in fiscal Q2

Oomitsu Co. Ltd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, came to ¥6.12 per share, compared with a loss of 63 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 ¥72.5 million, compared with a loss of ¥7.5 million in the prior-year period.

The normalized profit margin increased to 0.6% from negative 0.1% in the year-earlier period.

Total revenue increased 11.0% year over year to ¥12.15 billion from ¥10.94 billion, and total operating expenses grew 9.8% on an annual basis to ¥12.03 billion from ¥10.95 billion.

Reported net income totaled ¥115.0 million, or ¥9.71 per share, compared to a loss of ¥239.0 million, or a loss of ¥20.18 per share, in the prior-year period.

As of Jan. 14, US$1 was equivalent to ¥116.84.