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Sanko Marketing Foods swings to profit in fiscal Q3

Sanko Marketing Foods Co. Ltd. said its normalized net income for the fiscal third quarter ended March 31 was ¥4.04 per share, compared with a loss of 61 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥58.1 million, compared with a loss of ¥8.8 million in the prior-year period.

The normalized profit margin climbed to 1.7% from negative 0.2% in the year-earlier period.

Total revenue decreased on an annual basis to ¥3.44 billion from ¥3.61 billion, and total operating expenses declined 7.2% from the prior-year period to ¥3.35 billion from ¥3.61 billion.

Reported net income totaled ¥73.0 million, or ¥5.07 per share, compared to a loss of ¥134.0 million, or a loss of ¥9.31 per share, in the year-earlier period.

As of May 13, US$1 was equivalent to ¥109.14.