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Dream Vision fiscal Q1 loss narrows YOY

Dream Vision Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of 94 Japanese sen per share, compared with a loss of ¥16.92 per share in the first quarter ended Dec. 31, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥10.0 million, compared with a loss of ¥47.5 million in the first quarter ended Dec. 31, 2014.

The normalized profit margin increased to negative 1.0% from negative 3.0% in the year-earlier period.

Total revenue declined 34.9% year over year to ¥1.02 billion from ¥1.57 billion, and total operating expenses decreased 36.9% year over year to ¥1.03 billion from ¥1.63 billion.

Reported net income came to a loss of ¥17.0 million, or a loss of ¥1.60 per share, compared to a loss of ¥111.0 million, or a loss of ¥39.53 per share, in the first quarter ended Dec. 31, 2014.

As of Aug. 14, US$1 was equivalent to ¥124.29.