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CLIP fiscal Q1 profit falls YOY

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CLIP fiscal Q1 profit falls YOY

CLIP Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥5.99 per share, a decline from ¥6.27 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥26.9 million, a decline from ¥28.1 million in the prior-year period.

The normalized profit margin climbed to 3.0% from 2.8% in the year-earlier period.

Total revenue fell 12.5% year over year to ¥886.0 million from ¥1.01 billion, and total operating expenses declined 12.6% year over year to ¥845.0 million from ¥967.0 million.

Reported net income totaled a loss of ¥4.0 million, or a loss of 89 sen per share, compared to income of ¥6.0 million, or ¥1.34 per share, in the year-earlier period.

As of Aug. 8, US$1 was equivalent to ¥101.85.