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Asics Q3 profit falls YOY

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Asics Q3 profit falls YOY

ASICS Corp. said its normalized net income for the third quarter was ¥22.62 per share, a decline of 31.5% from ¥33.03 per share in the third quarter ended Dec. 31, 2013.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.54 billion, a decrease of 27.5% from ¥6.26 billion in the third quarter ended Dec. 31, 2013.

The normalized profit margin was 3.9%.

Total revenue increased 36.1% on an annual basis to ¥115.15 billion from ¥84.60 billion, and total operating expenses rose 37.9% on an annual basis to ¥103.34 billion from ¥74.91 billion.

Reported net income decreased 90.5% from the prior-year period to ¥669.0 million, or ¥3.33 per share, from ¥7.05 billion, or ¥37.19 per share.

As of Nov. 12, US$1 was equivalent to ¥122.92.