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Earth Chemical Q2 profit falls YOY

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Earth Chemical Q2 profit falls YOY

Earth Corp. said its second-quarter normalized net income amounted to ¥248.42 per share, a decline from ¥259.88 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.02 billion, a decrease from ¥5.25 billion in the prior-year period.

The normalized profit margin fell to 8.9% from 10.2% in the year-earlier period.

Total revenue rose 10.0% year over year to ¥56.69 billion from ¥51.56 billion, and total operating expenses increased 12.7% on an annual basis to ¥48.50 billion from ¥43.03 billion.

Reported net income rose on an annual basis to ¥5.14 billion, or ¥254.57 per share, from ¥5.04 billion, or ¥249.75 per share.

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