Watami Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥7.78 per share, compared with ¥20.80 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥290.5 million, compared with income of ¥834.4 million in the year-earlier period.
The normalized profit margin declined to negative 0.7% from 2.1% in the year-earlier period.
Total revenue declined year over year to ¥39.46 billion from ¥40.52 billion, and total operating expenses climbed from the prior-year period to ¥39.57 billion from ¥38.91 billion.
Reported net income came to a loss of ¥992.0 million, or a loss of ¥26.57 per share, compared to income of ¥617.3 million, or ¥15.39 per share, in the year-earlier period.
As of Aug. 11, US$1 was equivalent to ¥102.12.
