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Escrit swings to loss in fiscal Q2

Escrit Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of ¥5.48 per share, compared with ¥9.37 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 ¥64.4 million, compared with income of ¥110.6 million in the year-earlier period.

The normalized profit margin fell to negative 1.4% from 2.3% in the year-earlier period.

Total revenue declined year over year to ¥4.68 billion from ¥4.80 billion, and total operating expenses rose from the prior-year period to ¥4.78 billion from ¥4.61 billion.

Reported net income came to a loss of ¥81.7 million, or a loss of ¥6.96 per share, compared to income of ¥82.5 million, or ¥6.98 per share, in the year-earlier period.

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