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LASCO Manufacturing fiscal Q3 profit climbs 19.4% YOY

LASCO Manufacturing Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 2 Jamaican cents per share, an increase of 19.4% from 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was J$98.9 million, an increase of 19.4% from J$82.8 million in the year-earlier period.

The normalized profit margin declined to 7.9% from 8.2% in the year-earlier period.

Total revenue rose 24.1% year over year to J$1.25 billion from J$1.01 billion, and total operating expenses climbed 22.0% year over year to J$1.05 billion from J$859.1 million.

Reported net income rose 19.4% from the prior-year period to J$158.3 million, or 4 cents per share, from J$132.5 million, or 3 cents per share.

As of Jan. 30, US$1 was equivalent to J$115.69.