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Haba Laboratories swings to profit in fiscal Q2

Haba Laboratories Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥2.22 per share, compared with a loss of ¥18.59 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥8.8 million, compared with a loss of ¥73.1 million in the prior-year period.

The normalized profit margin climbed to 0.3% from negative 2.5% in the year-earlier period.

Total revenue climbed 8.1% year over year to ¥3.17 billion from ¥2.94 billion, and total operating expenses rose from the prior-year period to ¥3.15 billion from ¥3.04 billion.

Reported net income totaled a loss of ¥27.0 million, or a loss of ¥6.86 per share, compared to a loss of ¥110.0 million, or a loss of ¥27.96 per share, in the prior-year period.

As of Nov. 16, US$1 was equivalent to ¥123.10.