JVC KENWOOD Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 57 Japanese sen per share, compared with a loss of ¥2.98 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥78.4 million, compared with a loss of ¥413.0 million in the prior-year period.
The normalized profit margin climbed to 0.1% from negative 0.5% in the year-earlier period.
Total revenue declined 12.6% on an annual basis to ¥71.54 billion from ¥81.88 billion, and total operating expenses fell 13.7% year over year to ¥70.14 billion from ¥81.26 billion.
Reported net income came to ¥2.42 billion, or ¥17.48 per share, compared to a loss of ¥457.0 million, or a loss of ¥3.30 per share, in the prior-year period.
As of Feb. 12, US$1 was equivalent to ¥118.90.
