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Endo Manufacturing swings to profit in fiscal Q1

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Endo Manufacturing swings to profit in fiscal Q1

Endo Manufacturing Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥1.22 per share, compared with a loss of ¥1.36 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥10.6 million, compared with a loss of ¥11.9 million in the prior-year period.

The normalized profit margin increased to 0.4% from negative 0.3% in the year-earlier period.

Total revenue declined 30.8% year over year to ¥2.97 billion from ¥4.29 billion, and total operating expenses declined 34.5% from the prior-year period to ¥2.92 billion from ¥4.46 billion.

Reported net income came to a loss of ¥44.0 million, or a loss of ¥5.04 per share, compared to a loss of ¥119.0 million, or a loss of ¥13.63 per share, in the year-earlier period.

As of Aug. 12, US$1 was equivalent to ¥102.19.