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Central Automotive Products fiscal Q3 profit climbs 19.4% YOY

Central Automotive Products Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to ¥21.75 per share, an increase of 19.6% from ¥18.18 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥391.9 million, a gain of 19.4% from ¥328.1 million in the prior-year period.

The normalized profit margin increased to 9.8% from 8.4% in the year-earlier period.

Total revenue grew year over year to ¥4.01 billion from ¥3.91 billion, and total operating expenses came to ¥3.44 billion, compared with ¥3.43 billion in the prior-year period.

Reported net income grew 21.6% on an annual basis to ¥411.0 million, or ¥22.81 per share, from ¥338.0 million, or ¥18.73 per share.

As of Feb. 8, US$1 was equivalent to ¥115.75.