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Golf Do swings to profit in fiscal Q3

Golf Do Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥4.53 per share, compared with a loss of ¥3.02 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥11.3 million, compared with a loss of ¥7.5 million in the year-earlier period.

The normalized profit margin climbed to 1.0% from negative 0.7% in the year-earlier period.

Total revenue totaled ¥1.10 billion, compared with ¥1.11 billion in the year-earlier period, and total operating expenses declined on an annual basis to ¥1.08 billion from ¥1.12 billion.

Reported net income totaled ¥13.0 million, or ¥5.24 per share, compared to a loss of ¥49.0 million, or a loss of ¥19.75 per share, in the year-earlier period.

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