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Hi-Lex fiscal Q2 profit climbs YOY

Hi-Lex Corp. said its normalized net income for the fiscal second quarter ended April 30 was ¥78.59 per share, an increase from ¥75.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.99 billion, a gain from ¥2.86 billion in the year-earlier period.

The normalized profit margin fell to 5.0% from 5.9% in the year-earlier period.

Total revenue rose 22.5% on an annual basis to ¥59.27 billion from ¥48.37 billion, and total operating expenses climbed 26.1% from the prior-year period to ¥54.67 billion from ¥43.36 billion.

Reported net income fell from the prior-year period to ¥3.04 billion, or ¥79.93 per share, from ¥3.15 billion, or ¥82.70 per share.

As of June 10, US$1 was equivalent to ¥122.64.