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AUTOWAVE fiscal Q3 profit falls YOY

AUTOWAVE Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥4.71 per share, a decline of 18.7% from ¥5.80 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥68.1 million, a decline of 18.7% from ¥83.8 million in the year-earlier period.

The normalized profit margin fell to 2.6% from 2.9% in the year-earlier period.

Total revenue declined 9.2% year over year to ¥2.60 billion from ¥2.86 billion, and total operating expenses decreased 9.4% on an annual basis to ¥2.49 billion from ¥2.75 billion.

Reported net income increased 22.1% on an annual basis to ¥127.0 million, or ¥8.79 per share, from ¥104.0 million, or ¥7.20 per share.

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