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O-uccino Q1 loss narrows YOY

O-uccino Inc. said its normalized net income for the first quarter came to a loss of ¥19.98 per share, compared with a loss of ¥49.97 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 ¥23.8 million, compared with a loss of ¥59.4 million in the prior-year period.

The normalized profit margin increased to negative 9.2% from negative 18.6% in the year-earlier period.

Total revenue declined 19.4% year over year to ¥258.0 million from ¥320.0 million, and total operating expenses decreased 29.1% from the prior-year period to ¥295.0 million from ¥416.0 million.

Reported net income totaled a loss of ¥38.0 million, or a loss of ¥31.97 per share, compared to a loss of ¥90.0 million, or a loss of ¥75.75 per share, in the prior-year period.

As of May 13, US$1 was equivalent to ¥109.14.