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Tein fiscal Q1 profit falls YOY

Tein Inc. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥10.47 per share, a decline of 14.7% from ¥12.27 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥54.4 million, a decrease of 14.7% from ¥63.8 million in the prior-year period.

The normalized profit margin fell to 6.3% from 7.2% in the year-earlier period.

Total revenue decreased on an annual basis to ¥860.0 million from ¥889.0 million, and total operating expenses declined on an annual basis to ¥767.0 million from ¥805.0 million.

Reported net income declined 34.1% from the prior-year period to ¥58.0 million, or ¥11.17 per share, from ¥88.0 million, or ¥16.94 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.