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Apple International Q3 profit falls YOY

Apple International Co. Ltd. said its third-quarter normalized net income amounted to ¥9.75 per share, a decline of 24.4% from ¥12.89 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥121.5 million, a decline of 24.4% from ¥160.6 million in the prior-year period.

The normalized profit margin increased to 1.8% from 1.6% in the year-earlier period.

Total revenue decreased 32.7% year over year to ¥6.73 billion from ¥10.00 billion, and total operating expenses fell 34.6% from the prior-year period to ¥6.37 billion from ¥9.74 billion.

Reported net income rose 6.6% year over year to ¥162.0 million, or ¥13.00 per share, from ¥152.0 million, or ¥12.20 per share.

As of Nov. 16, US$1 was equivalent to ¥123.10.