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Lobtex fiscal Q3 profit falls YOY

Lobtex Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥51.15 per share, a decline of 19.6% from ¥63.62 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥48.1 million, a decline of 19.6% from ¥59.9 million in the prior-year period.

The normalized profit margin declined to 3.8% from 4.6% in the year-earlier period.

Total revenue decreased year over year to ¥1.26 billion from ¥1.29 billion, and total operating expenses declined from the prior-year period to ¥1.16 billion from ¥1.17 billion.

Reported net income fell 16.7% on an annual basis to ¥50.0 million, or ¥53.14 per share, from ¥60.0 million, or ¥63.76 per share.

As of Feb. 10, US$1 was equivalent to ¥119.28.