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Univance fiscal Q1 profit falls YOY

Univance Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥5.73 per share, a decline of 79.4% from ¥27.79 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥119.6 million, a decline of 79.4% from ¥580.6 million in the prior-year period.

The normalized profit margin declined to 0.8% from 3.8% in the year-earlier period.

Total revenue increased year over year to ¥15.82 billion from ¥15.34 billion, and total operating expenses grew 5.0% year over year to ¥15.62 billion from ¥14.88 billion.

Reported net income declined 85.3% on an annual basis to ¥155.0 million, or ¥7.42 per share, from ¥1.05 billion, or ¥50.40 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.