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Toshiba fiscal Q1 profit climbs 3,444.1% YOY

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Toshiba fiscal Q1 profit climbs 3,444.1% YOY

Toshiba Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥10.92 per share, a gain of 3,444.4% from 31 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥46.24 billion, a gain of 3,444.1% from ¥1.30 billion in the year-earlier period.

The normalized profit margin increased to 4.0% from 0.1% in the year-earlier period.

Total revenue fell 5.3% year over year to ¥1.144 trillion from ¥1.207 trillion, and total operating expenses declined 11.8% year over year to ¥1.047 trillion from ¥1.187 trillion.

Reported net income grew 1,550.0% on an annual basis to ¥50.33 billion, or ¥11.89 per share, from ¥3.05 billion, or 72 sen per share.

As of Aug. 10, US$1 was equivalent to ¥109.48.