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Descente fiscal Q1 loss narrows YOY

Descente Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥1.05 per share, compared with a loss of ¥1.65 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 ¥78.8 million, compared with a loss of ¥124.4 million in the prior-year period.

The normalized profit margin climbed to negative 0.3% from negative 0.6% in the year-earlier period.

Total revenue grew 16.3% on an annual basis to ¥23.41 billion from ¥20.12 billion, and total operating expenses increased 16.1% from the prior-year period to ¥23.66 billion from ¥20.38 billion.

Reported net income came to ¥63.0 million, or 84 sen per share, compared to a loss of ¥22.0 million, or a loss of 29 sen per share, in the year-earlier period.

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