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Golf Digest Online swings to profit in Q1

Golf Digest Online Inc. said its normalized net income for the first quarter came to ¥2.07 per share, compared with a loss of ¥1.32 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥37.5 million, compared with a loss of ¥20.0 million in the prior-year period.

The normalized profit margin increased to 0.9% from negative 0.5% in the year-earlier period.

Total revenue climbed 13.8% year over year to ¥4.21 billion from ¥3.70 billion, and total operating expenses climbed 11.2% from the prior-year period to ¥4.15 billion from ¥3.73 billion.

Reported net income came to ¥20.3 million, or ¥1.12 per share, compared to a loss of ¥34.0 million, or a loss of ¥2.24 per share, in the year-earlier period.

As of May 11, US$1 was equivalent to ¥108.60.