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SMC Corp. fiscal Q3 profit falls YOY

SMC Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to ¥315.68 per share, a decrease of 28.4% from ¥440.89 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥21.21 billion, a decline of 28.4% from ¥29.62 billion in the prior-year period.

The normalized profit margin fell to 18.2% from 25.4% in the year-earlier period.

Total revenue totaled ¥116.38 billion, compared with ¥116.73 billion in the year-earlier period, and total operating expenses fell on an annual basis to ¥83.67 billion from ¥86.21 billion.

Reported net income fell 22.4% from the prior-year period to ¥24.70 billion, or ¥367.65 per share, from ¥31.81 billion, or ¥473.50 per share.

As of Feb. 9, US$1 was equivalent to ¥114.79.