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Nihon Eslead swings to loss in fiscal Q1

Nihon Eslead Corp. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 20 Japanese sen per share, compared with ¥31.03 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 ¥3.1 million, compared with income of ¥478.8 million in the prior-year period.

The normalized profit margin dropped to negative 0.1% from 6.3% in the year-earlier period.

Total revenue fell 50.7% year over year to ¥3.76 billion from ¥7.62 billion, and total operating expenses fell 45.1% on an annual basis to ¥3.73 billion from ¥6.79 billion.

Reported net income came to a loss of ¥41.0 million, or a loss of ¥2.66 per share, compared to income of ¥431.0 million, or ¥27.93 per share, in the year-earlier period.

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