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Univance swings to profit in fiscal Q3

Univance Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥23.50 per share, compared with a loss of ¥6.52 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥490.9 million, compared with a loss of ¥136.1 million in the year-earlier period.

The normalized profit margin rose to 3.0% from negative 0.8% in the year-earlier period.

Total revenue totaled ¥16.42 billion, compared with ¥16.43 billion in the year-earlier period, and total operating expenses totaled ¥16.23 billion, compared with ¥16.22 billion in the year-earlier period.

Reported net income totaled ¥715.0 million, or ¥34.23 per share, compared to a loss of ¥280.0 million, or a loss of ¥13.40 per share, in the prior-year period.

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