JVC KENWOOD Corp. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥2.08 per share, compared with a loss of ¥7.42 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 ¥288.8 million, compared with a loss of ¥1.03 billion in the prior-year period.
The normalized profit margin increased to negative 0.4% from negative 1.5% in the year-earlier period.
Total revenue declined year over year to ¥66.50 billion from ¥69.81 billion, and total operating expenses decreased 6.7% from the prior-year period to ¥66.11 billion from ¥70.84 billion.
Reported net income came to a loss of ¥2.61 billion, or a loss of ¥18.80 per share, compared to a loss of ¥1.98 billion, or a loss of ¥14.26 per share, in the year-earlier period.
As of Aug. 8, US$1 was equivalent to ¥101.85.
