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System D fiscal Q1 loss widens 37.6% YOY

System D Inc. said its normalized net income for the fiscal first quarter ended Jan. 31 amounted to a loss of ¥25.03 per share, compared with a loss of ¥18.20 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥162.5 million, compared with a loss of ¥118.1 million in the year-earlier period.

The normalized profit margin fell to negative 52.8% from negative 33.9% in the year-earlier period.

Total revenue fell 11.5% year over year to ¥308.0 million from ¥348.0 million, and total operating expenses rose 5.8% on an annual basis to ¥566.0 million from ¥535.0 million.

Reported net income came to a loss of ¥167.0 million, or a loss of ¥25.72 per share, compared to a loss of ¥109.0 million, or a loss of ¥16.79 per share, in the prior-year period.

As of March 14, US$1 was equivalent to ¥113.59.