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Tamron Q1 profit climbs YOY

Tamron Co. Ltd. said its normalized net income for the first quarter amounted to ¥37.52 per share, a gain from ¥17.05 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.03 billion, a gain from ¥468.1 million in the prior-year period.

The normalized profit margin climbed to 6.1% from 3.3% in the year-earlier period.

Total revenue rose 19.0% year over year to ¥16.82 billion from ¥14.13 billion, and total operating expenses increased 13.2% on an annual basis to ¥15.24 billion from ¥13.46 billion.

Reported net income increased on an annual basis to ¥1.86 billion, or ¥67.65 per share, from ¥457.0 million, or ¥16.65 per share.

As of May 14, US$1 was equivalent to ¥119.24.