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Pacific Net fiscal Q2 profit falls YOY

Pacific Net Co. Ltd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2015, amounted to ¥3.38 per share, a decrease of 22.2% from ¥4.35 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥17.5 million, a decrease of 22.2% from ¥22.5 million in the prior-year period.

The normalized profit margin declined to 1.6% from 2.1% in the year-earlier period.

Total revenue came to ¥1.09 billion, compared with ¥1.09 billion in the prior-year period, and total operating expenses rose year over year to ¥1.06 billion from ¥1.05 billion.

Reported net income rose 47.6% on an annual basis to ¥31.0 million, or ¥5.99 per share, from ¥21.0 million, or ¥4.06 per share.

As of Jan. 14, US$1 was equivalent to ¥118.06.