Panasonic Manufacturing Philippines Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 came to 10 Philippine centavos per share, an increase from 4 centavos per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 41.7 million pesos, an increase from 18.1 million pesos in the year-earlier period.
The normalized profit margin increased to 2.2% from 1.1% in the year-earlier period.
Total revenue rose 14.7% year over year to 1.92 billion pesos from 1.68 billion pesos, and total operating expenses climbed 13.1% on an annual basis to 1.87 billion pesos from 1.65 billion pesos.
Reported net income grew from the prior-year period to 49.3 million pesos, or 12 centavos per share, from 18.6 million pesos, or 4 centavos per share.
As of Nov. 13, US$1 was equivalent to 47.15 Philippine pesos.