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Toshiba fiscal Q2 profit climbs 246.4% YOY

Toshiba Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥26.36 per share, an increase of 246.5% from ¥7.61 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥111.59 billion, an increase of 246.4% from ¥32.21 billion in the prior-year period.

The normalized profit margin increased to 9.0% from 2.3% in the year-earlier period.

Total revenue decreased 9.4% year over year to ¥1.243 trillion from ¥1.372 trillion, and total operating expenses declined 14.5% year over year to ¥1.107 trillion from ¥1.295 trillion.

Reported net income came to a loss of ¥110.30 billion, or a loss of ¥26.05 per share, compared with income of ¥30.97 billion, or ¥7.32 per share, in the year-earlier period.

As of Nov. 9, US$1 was equivalent to ¥113.67.