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Mars Engineering fiscal Q1 profit falls YOY

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Mars Engineering fiscal Q1 profit falls YOY

Mars Engineering Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥43.41 per share, a decline of 13.7% from ¥50.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥826.9 million, a decrease of 13.7% from ¥958.1 million in the prior-year period.

The normalized profit margin fell to 12.7% from 14.2% in the year-earlier period.

Total revenue declined on an annual basis to ¥6.52 billion from ¥6.75 billion, and total operating expenses declined year over year to ¥5.37 billion from ¥5.45 billion.

Reported net income fell 30.6% year over year to ¥815.0 million, or ¥42.78 per share, from ¥1.17 billion, or ¥61.63 per share.

As of Aug. 13, US$1 was equivalent to ¥102.37.