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Seiko Epson fiscal Q3 profit climbs 25.2% YOY

Seiko Epson Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was ¥69.86 per share, a gain of 25.2% from ¥55.78 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥25.00 billion, a gain of 25.2% from ¥19.96 billion in the year-earlier period.

The normalized profit margin rose to 8.5% from 6.6% in the year-earlier period.

Total revenue fell on an annual basis to ¥294.44 billion from ¥302.00 billion, and total operating expenses declined 5.8% year over year to ¥254.24 billion from ¥269.90 billion.

Reported net income rose 12.7% year over year to ¥28.94 billion, or ¥80.90 per share, from ¥25.68 billion, or ¥71.78 per share.

As of Jan. 29, US$1 was equivalent to ¥120.99.