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Global Ltd. swings to profit in fiscal Q2

Global Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to ¥11.51 per share, compared with a loss of ¥1.68 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥165.6 million, compared with a loss of ¥21.9 million in the prior-year period.

The normalized profit margin increased to 2.5% from negative 0.4% in the year-earlier period.

Total revenue grew 24.3% on an annual basis to ¥6.76 billion from ¥5.44 billion, and total operating expenses increased 20.7% on an annual basis to ¥6.47 billion from ¥5.36 billion.

Reported net income totaled ¥178.3 million, or ¥12.39 per share, compared to a loss of ¥24.1 million, or a loss of ¥1.84 per share, in the year-earlier period.

As of Feb. 13, US$1 was equivalent to ¥118.68.