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Asante fiscal Q1 profit falls YOY

Asante Inc. said its normalized net income for the fiscal first quarter ended June 30 was ¥40.96 per share, a decrease of 9.6% from ¥45.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥503.8 million, a decrease of 9.0% from ¥553.8 million in the prior-year period.

The normalized profit margin fell to 13.6% from 15.0% in the year-earlier period.

Total revenue came to ¥3.70 billion, compared with ¥3.69 billion in the year-earlier period, and total operating expenses increased year over year to ¥2.89 billion from ¥2.80 billion.

Reported net income rose 9.2% on an annual basis to ¥497.0 million, or ¥40.41 per share, from ¥455.0 million, or ¥37.22 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.