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LEC Inc. fiscal Q3 profit climbs 64.6% YOY

LEC Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥15.66 per share, a gain of 64.6% from ¥9.51 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥275.5 million, a gain of 64.6% from ¥167.4 million in the prior-year period.

The normalized profit margin climbed to 3.3% from 2.2% in the year-earlier period.

Total revenue rose 9.0% on an annual basis to ¥8.47 billion from ¥7.77 billion, and total operating expenses increased 7.1% year over year to ¥8.11 billion from ¥7.57 billion.

Reported net income grew 54.3% on an annual basis to ¥435.0 million, or ¥24.72 per share, from ¥282.0 million, or ¥16.02 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.