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Internet Initiative Japan fiscal Q3 profit climbs 8.7% YOY

Internet Initiative Japan Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to ¥20.91 per share, an increase of 8.6% from ¥19.26 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥963.0 million, an increase of 8.7% from ¥886.3 million in the prior-year period.

The normalized profit margin dropped to 2.8% from 2.9% in the year-earlier period.

Total revenue grew 11.0% on an annual basis to ¥34.05 billion from ¥30.67 billion, and total operating expenses climbed 11.0% from the prior-year period to ¥32.54 billion from ¥29.30 billion.

Reported net income grew 5.8% on an annual basis to ¥920.5 million, or ¥19.99 per share, from ¥869.7 million, or ¥18.90 per share.

As of Feb. 15, US$1 was equivalent to ¥114.50.