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Studio Alice swings to profit in Q2

Studio Alice Co. Ltd. said its normalized net income for the second quarter amounted to ¥23.46 per share, compared with a loss of ¥12.94 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥398.5 million, compared with a loss of ¥219.8 million in the year-earlier period.

The normalized profit margin climbed to 4.4% from negative 2.8% in the year-earlier period.

Total revenue climbed 14.2% on an annual basis to ¥8.96 billion from ¥7.84 billion, and total operating expenses grew year over year to ¥8.30 billion from ¥8.15 billion.

Reported net income came to ¥254.0 million, or ¥14.96 per share, compared to a loss of ¥421.0 million, or a loss of ¥24.79 per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to ¥124.86.