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Haba Laboratories swings to loss in fiscal Q2

Haba Laboratories Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of ¥18.59 per share, compared with ¥12.55 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥73.1 million, compared with income of ¥49.4 million in the year-earlier period.

The normalized profit margin dropped to negative 2.5% from 1.7% in the year-earlier period.

Total revenue decreased on an annual basis to ¥2.94 billion from ¥2.97 billion, and total operating expenses grew 5.8% year over year to ¥3.04 billion from ¥2.88 billion.

Reported net income came to a loss of ¥110.0 million, or a loss of ¥27.96 per share, compared to income of ¥6.0 million, or ¥1.53 per share, in the year-earlier period.

As of Nov. 14, US$1 was equivalent to ¥116.46.