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Bic Camera fiscal Q1 profit climbs 6.7% YOY

Bic Camera Inc. said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, amounted to ¥8.53 per share, a decline from ¥8.73 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.60 billion, a gain of 6.7% from ¥1.50 billion in the year-earlier period.

The normalized profit margin climbed to 0.9% from 0.8% in the year-earlier period.

Total revenue totaled ¥183.42 billion, compared with ¥184.56 billion in the year-earlier period, and total operating expenses fell from the prior-year period to ¥181.06 billion from ¥183.44 billion.

Reported net income rose 55.6% on an annual basis to ¥1.39 billion, or ¥7.42 per share, from ¥894.0 million, or ¥5.21 per share.

As of Jan. 14, US$1 was equivalent to ¥116.84.