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Stream Co. swings to profit in fiscal Q3

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Stream Co. swings to profit in fiscal Q3

Stream Co. Ltd. said its normalized net income for the fiscal third quarter ended Oct. 31 was 95 Japanese sen per share, compared with a loss of 79 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 ¥59.4 million, compared with a loss of ¥15.6 million in the year-earlier period.

The normalized profit margin increased to 1.4% from negative 0.4% in the year-earlier period.

Total revenue grew 5.0% year over year to ¥4.23 billion from ¥4.03 billion, and total operating expenses increased from the prior-year period to ¥4.12 billion from ¥4.05 billion.

Reported net income totaled ¥62.6 million, or 99 sen per share, compared to a loss of ¥23.0 million, or a loss of ¥1.16 per share, in the year-earlier period.

As of Dec. 12, US$1 was equivalent to ¥118.57.