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Flying Garden swings to profit in fiscal Q3

Flying Garden Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥3.03 per share, compared with a loss of ¥6.48 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.4 million, compared with a loss of ¥9.4 million in the prior-year period.

The normalized profit margin climbed to 0.3% from negative 0.6% in the year-earlier period.

Total revenue increased on an annual basis to ¥1.74 billion from ¥1.66 billion, and total operating expenses rose from the prior-year period to ¥1.73 billion from ¥1.68 billion.

Reported net income totaled a loss of ¥6.0 million, or a loss of ¥4.15 per share, compared to a loss of ¥21.0 million, or a loss of ¥14.53 per share, in the prior-year period.

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