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People Co. Ltd. swings to profit in fiscal Q2

People Co. Ltd. said its normalized net income for the fiscal second quarter ended July 20 was 14 Japanese sen per share, compared with a loss of ¥3.86 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥625,000, compared with a loss of ¥16.9 million in the year-earlier period.

The normalized profit margin increased to 0.1% from negative 2.4% in the year-earlier period.

Total revenue climbed 7.2% year over year to ¥760.0 million from ¥709.0 million, and total operating expenses rose on an annual basis to ¥757.0 million from ¥749.0 million.

As of Sept. 3, US$1 was equivalent to ¥104.94.