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Hi-Lex fiscal Q1 profit climbs 20.9% YOY

Hi-Lex Corp. said its normalized net income for the fiscal first quarter ended Jan. 31 came to ¥90.47 per share, an increase of 20.8% from ¥74.86 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.44 billion, an increase of 20.9% from ¥2.85 billion in the year-earlier period.

The normalized profit margin rose to 5.9% from 5.9% in the year-earlier period.

Total revenue climbed 20.3% year over year to ¥58.46 billion from ¥48.60 billion, and total operating expenses climbed 23.5% from the prior-year period to ¥53.62 billion from ¥43.44 billion.

Reported net income decreased year over year to ¥4.15 billion, or ¥108.96 per share, from ¥4.24 billion, or ¥111.51 per share.

As of March 12, US$1 was equivalent to ¥121.25.