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Allied Telesis Q1 loss narrows YOY

Allied Telesis Holdings K.K. said its first-quarter normalized net income was a loss of ¥4.53 per share, compared with a loss of ¥8.67 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥494.4 million, compared with a loss of ¥945.6 million in the year-earlier period.

The normalized profit margin rose to negative 6.4% from negative 14.9% in the year-earlier period.

Total revenue increased 20.7% on an annual basis to ¥7.68 billion from ¥6.37 billion, and total operating expenses declined year over year to ¥7.63 billion from ¥7.76 billion.

Reported net income totaled a loss of ¥488.0 million, or a loss of ¥4.47 per share, compared to a loss of ¥1.63 billion, or a loss of ¥14.90 per share, in the year-earlier period.

As of May 16, US$1 was equivalent to ¥108.83.