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Central Automotive Products fiscal Q3 profit falls YOY

Central Automotive Products Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥18.18 per share, a decrease of 15.2% from ¥21.44 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥328.1 million, a decline of 15.2% from ¥386.9 million in the prior-year period.

The normalized profit margin fell to 8.4% from 10.0% in the year-earlier period.

Total revenue totaled ¥3.91 billion, compared with ¥3.88 billion in the prior-year period, and total operating expenses climbed year over year to ¥3.43 billion from ¥3.33 billion.

Reported net income declined 9.6% year over year to ¥338.0 million, or ¥18.73 per share, from ¥374.0 million, or ¥20.72 per share.

As of Feb. 9, US$1 was equivalent to ¥118.60.