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Pixelz swings to loss in Q2

Pixel Co.z Inc. said its normalized net income for the second quarter was a loss of ¥7.98 per share, compared with ¥1.73 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 ¥70.6 million, compared with income of ¥9.4 million in the year-earlier period.

The normalized profit margin declined to negative 2.2% from 0.2% in the year-earlier period.

Total revenue decreased 15.7% year over year to ¥3.24 billion from ¥3.84 billion, and total operating expenses fell 12.9% on an annual basis to ¥3.33 billion from ¥3.83 billion.

Reported net income came to ¥225.8 million, or ¥16.97 per share.

As of Aug. 15, US$1 was equivalent to ¥101.04.