Gakkyusha Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥9.89 per share, compared with a loss of ¥7.34 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥105.9 million, compared with a loss of ¥78.5 million in the year-earlier period.

The normalized profit margin dropped to negative 6.0% from negative 4.7% in the year-earlier period.

Total revenue rose 6.8% year over year to ¥1.77 billion from ¥1.65 billion, and total operating expenses climbed 9.7% from the prior-year period to ¥1.95 billion from ¥1.77 billion.

Reported net income totaled a loss of ¥115.0 million, or a loss of ¥10.75 per share, compared to a loss of ¥102.0 million, or a loss of ¥9.53 per share, in the year-earlier period.

As of Aug. 10, US$1 was equivalent to ¥124.53.