BRONCO BILLY Co. LTD. said its first-quarter normalized net income amounted to ¥32.06 per share, a gain of 35.6% from ¥23.64 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥483.1 million, a gain of 35.6% from ¥356.3 million in the year-earlier period.

The normalized profit margin increased to 10.9% from 9.5% in the year-earlier period.

Total revenue grew 18.3% year over year to ¥4.41 billion from ¥3.73 billion, and total operating expenses climbed 15.0% from the prior-year period to ¥3.64 billion from ¥3.16 billion.

Reported net income rose 42.1% on an annual basis to ¥496.0 million, or ¥32.91 per share, from ¥349.0 million, or ¥23.16 per share.

As of April 26, US$1 was equivalent to ¥111.19.