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Panasonic fiscal Q1 profit climbs 25.3% YOY

Panasonic Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥14.82 per share, an increase of 25.3% from ¥11.83 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥34.25 billion, an increase of 25.3% from ¥27.34 billion in the year-earlier period.

The normalized profit margin rose to 1.8% from 1.5% in the year-earlier period.

Total revenue grew on an annual basis to ¥1.852 trillion from ¥1.825 trillion, and total operating expenses totaled ¥1.770 trillion, compared with ¥1.760 trillion in the year-earlier period.

Reported net income declined 64.8% year over year to ¥37.93 billion, or ¥16.41 per share, from ¥107.83 billion, or ¥46.65 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.