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Stanley Electric fiscal Q1 profit falls YOY

Stanley Electric Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥27.88 per share, a decrease from ¥28.22 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.71 billion, a decline from ¥4.78 billion in the prior-year period.

The normalized profit margin dropped to 5.6% from 6.3% in the year-earlier period.

Total revenue rose 10.0% on an annual basis to ¥84.05 billion from ¥76.38 billion, and total operating expenses rose 10.8% from the prior-year period to ¥75.24 billion from ¥67.88 billion.

Reported net income rose on an annual basis to ¥5.66 billion, or ¥33.50 per share, from ¥5.56 billion, or ¥32.80 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.