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Renown fiscal Q3 profit falls YOY

Renown Inc. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, came to ¥16.06 per share, a decline of 24.0% from ¥21.14 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.62 billion, a decrease from ¥1.71 billion in the prior-year period.

The normalized profit margin rose to 8.2% from 8.2% in the year-earlier period.

Total revenue declined 5.6% on an annual basis to ¥19.76 billion from ¥20.93 billion, and total operating expenses declined 5.7% on an annual basis to ¥17.26 billion from ¥18.30 billion.

Reported net income fell 22.1% on an annual basis to ¥2.01 billion, or ¥19.88 per share, from ¥2.58 billion, or ¥31.97 per share.

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