The Far Eastern University, Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 12.80 Philippine pesos per share, a gain of 6.9% from 11.98 pesos per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 210.8 million pesos, an increase of 6.8% from 197.3 million pesos in the year-earlier period.
The normalized profit margin declined to 28.8% from 29.7% in the year-earlier period.
Total revenue grew 10.5% on an annual basis to 733.2 million pesos from 663.8 million pesos, and total operating expenses grew 14.8% on an annual basis to 435.0 million pesos from 378.9 million pesos.
Reported net income increased 7.0% from the prior-year period to 302.3 million pesos, or 18.36 pesos per share, from 282.5 million pesos, or 17.14 pesos per share.
As of Feb. 13, US$1 was equivalent to 44.23 Philippine pesos.
