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Tein swings to profit in fiscal Q3

Tein Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 12 Japanese sen per share, compared with a loss of 12 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 ¥625,000, compared with a loss of ¥625,000 in the year-earlier period.

The normalized profit margin increased to 0.1% from negative 0.1% in the year-earlier period.

Total revenue rose 21.7% year over year to ¥781.0 million from ¥642.0 million, and total operating expenses increased 15.5% year over year to ¥810.0 million from ¥701.0 million.

Reported net income came to a loss of ¥3.0 million, or a loss of 58 sen per share, compared to a loss of ¥29.0 million, or a loss of ¥5.58 per share, in the prior-year period.

As of Feb. 10, US$1 was equivalent to ¥119.28.