T-Gaia Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥22.83 per share, a decrease of 18.0% from ¥27.85 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.57 billion, a decrease of 28.7% from ¥2.20 billion in the prior-year period.
The normalized profit margin fell to 1.2% from 1.3% in the year-earlier period.
Total revenue decreased 24.8% on an annual basis to ¥126.96 billion from ¥168.78 billion, and total operating expenses declined 24.7% from the prior-year period to ¥124.43 billion from ¥165.24 billion.
Reported net income declined 33.6% year over year to ¥1.33 billion, or ¥19.32 per share, from ¥2.00 billion, or ¥25.32 per share.
As of Aug. 11, US$1 was equivalent to ¥102.12.
