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Imasen Electric fiscal Q3 profit falls YOY

Imasen Electric Industrial Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥34.02 per share, a decrease of 10.7% from ¥38.10 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥707.5 million, a decrease of 10.7% from ¥792.5 million in the year-earlier period.

The normalized profit margin dropped to 2.6% from 2.8% in the year-earlier period.

Total revenue decreased on an annual basis to ¥27.01 billion from ¥28.01 billion, and total operating expenses declined on an annual basis to ¥26.33 billion from ¥26.61 billion.

Reported net income decreased 28.7% from the prior-year period to ¥805.2 million, or ¥38.72 per share, from ¥1.13 billion, or ¥54.33 per share.

As of Feb. 12, US$1 was equivalent to ¥118.90.