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NGK Spark Plug fiscal Q3 profit climbs 24.8% YOY

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NGK Spark Plug fiscal Q3 profit climbs 24.8% YOY

NGK Spark Plug Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥57.94 per share, an increase of 24.8% from ¥46.41 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥12.61 billion, a gain of 24.8% from ¥10.10 billion in the year-earlier period.

The normalized profit margin climbed to 14.2% from 12.1% in the year-earlier period.

Total revenue grew 6.7% year over year to ¥88.86 billion from ¥83.26 billion, and total operating expenses climbed from the prior-year period to ¥71.61 billion from ¥69.54 billion.

Reported net income rose 37.5% year over year to ¥13.45 billion, or ¥61.79 per share, from ¥9.78 billion, or ¥44.93 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.