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Ito En swings to loss in fiscal Q3

Ito En Ltd. said its normalized net income for the fiscal third quarter ended Jan. 31 came to a loss of ¥1.59 per share, compared with ¥4.22 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥195.9 million, compared with income of ¥519.5 million in the year-earlier period.

The normalized profit margin fell to negative 0.2% from 0.5% in the year-earlier period.

Total revenue came to ¥94.44 billion, compared with ¥94.93 billion in the year-earlier period, and total operating expenses came to ¥94.95 billion, compared with ¥94.06 billion in the prior-year period.

Reported net income totaled a loss of ¥398.9 million, or a loss of ¥3.24 per share, compared to income of ¥378.0 million, or ¥3.07 per share, in the year-earlier period.

As of March 13, US$1 was equivalent to ¥121.18.