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IGNIS swings to profit in fiscal Q1

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IGNIS swings to profit in fiscal Q1

IGNIS LTD. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was ¥19.76 per share, compared with a loss of ¥5.99 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥254.1 million, compared with a loss of ¥72.5 million in the year-earlier period.

The normalized profit margin increased to 19.2% from negative 29.8% in the year-earlier period.

Total revenue rose year over year to ¥1.32 billion from ¥243.0 million, and total operating expenses rose year over year to ¥911.0 million from ¥344.0 million.

Reported net income totaled ¥230.4 million, or ¥17.91 per share, compared to a loss of ¥89.0 million, or a loss of ¥7.35 per share, in the year-earlier period.

As of Feb. 12, US$1 was equivalent to ¥112.83.