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Globeride fiscal Q1 profit climbs 24.8% YOY

Globeride Inc. said its normalized net income for the fiscal first quarter ended June 30 came to ¥71.91 per share, an increase of 24.8% from ¥57.63 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥826.9 million, an increase of 24.8% from ¥662.5 million in the prior-year period.

The normalized profit margin increased to 4.2% from 3.9% in the year-earlier period.

Total revenue rose 14.0% on an annual basis to ¥19.48 billion from ¥17.09 billion, and total operating expenses rose 13.8% from the prior-year period to ¥18.08 billion from ¥15.89 billion.

Reported net income increased 56.0% from the prior-year period to ¥811.0 million, or ¥70.53 per share, from ¥520.0 million, or ¥45.23 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.