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Saftec fiscal Q1 loss narrows YOY

Saftec Co.Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥90.13 per share, compared with a loss of ¥155.18 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 ¥45.0 million, compared with a loss of ¥77.5 million in the year-earlier period.

The normalized profit margin climbed to negative 2.4% from negative 4.5% in the year-earlier period.

Total revenue rose 7.1% on an annual basis to ¥1.84 billion from ¥1.72 billion, and total operating expenses grew year over year to ¥1.91 billion from ¥1.83 billion.

Reported net income came to a loss of ¥75.0 million, or a loss of ¥150.21 per share, compared to a loss of ¥105.0 million, or a loss of ¥210.25 per share, in the prior-year period.

As of Aug. 7, US$1 was equivalent to ¥124.28.