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Parco fiscal Q3 profit falls YOY

Parco Co. Ltd. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, came to ¥15.29 per share, a decrease of 9.2% from ¥16.85 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.55 billion, a decrease of 9.3% from ¥1.71 billion in the prior-year period.

The normalized profit margin dropped to 2.3% from 2.6% in the year-earlier period.

Total revenue rose year over year to ¥67.30 billion from ¥65.69 billion, and total operating expenses increased year over year to ¥64.78 billion from ¥62.92 billion.

Reported net income decreased 5.8% on an annual basis to ¥1.43 billion, or ¥14.05 per share, from ¥1.51 billion, or ¥14.91 per share.

As of Jan. 7, US$1 was equivalent to ¥119.44.