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CVS Bay Area fiscal Q3 profit climbs 36.4% YOY

CVS Bay Area Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, came to ¥7.60 per share, an increase of 36.4% from ¥5.57 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥37.5 million, a gain of 36.4% from ¥27.5 million in the prior-year period.

The normalized profit margin increased to 0.5% from 0.4% in the year-earlier period.

Total revenue decreased 7.2% year over year to ¥7.03 billion from ¥7.58 billion, and total operating expenses declined 7.7% year over year to ¥6.98 billion from ¥7.56 billion.

As of Jan. 14, US$1 was equivalent to ¥116.84.