Rinnai Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥131.90 per share, a decline of 14.0% from ¥153.36 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥6.86 billion, a decline of 13.7% from ¥7.95 billion in the year-earlier period.
The normalized profit margin dropped to 8.4% from 9.7% in the year-earlier period.
Total revenue totaled ¥81.50 billion, compared with ¥81.67 billion in the prior-year period, and total operating expenses rose on an annual basis to ¥70.93 billion from ¥69.67 billion.
Reported net income decreased 12.9% on an annual basis to ¥7.28 billion, or ¥139.94 per share, from ¥8.36 billion, or ¥161.18 per share.
As of Feb. 12, US$1 was equivalent to ¥118.90.
