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Nippon Felt fiscal Q3 profit climbs YOY

Nippon Felt Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥8.88 per share, a gain from ¥8.78 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥176.1 million, a gain from ¥174.1 million in the prior-year period.

The normalized profit margin increased to 6.0% from 6.0% in the year-earlier period.

Total revenue came to ¥2.93 billion, compared with ¥2.92 billion in the prior-year period, and total operating expenses came to ¥2.72 billion, compared with ¥2.69 billion in the year-earlier period.

Reported net income grew 6.7% year over year to ¥191.0 million, or ¥9.63 per share, from ¥179.0 million, or ¥9.02 per share.

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