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Applied Co. Ltd. fiscal Q1 profit climbs YOY

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Applied Co. Ltd. fiscal Q1 profit climbs YOY

Applied Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥21.72 per share, an increase from ¥3.49 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥55.1 million, a gain from ¥8.8 million in the year-earlier period.

The normalized profit margin increased to 0.9% from 0.1% in the year-earlier period.

Total revenue declined on an annual basis to ¥5.98 billion from ¥6.06 billion, and total operating expenses declined year over year to ¥5.91 billion from ¥6.03 billion.

Reported net income increased from the prior-year period to ¥43.0 million, or ¥16.94 per share, from ¥10.0 million, or ¥3.98 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.