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Watt Mann fiscal Q3 profit falls YOY

Watt Mann Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 23 Japanese sen per share, a decline of 85.2% from ¥1.54 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.5 million, a decline of 85.2% from ¥16.9 million in the prior-year period.

The normalized profit margin declined to 0.3% from 2.2% in the year-earlier period.

Total revenue climbed 7.8% on an annual basis to ¥817.0 million from ¥758.0 million, and total operating expenses rose 11.2% year over year to ¥816.0 million from ¥734.0 million.

Reported net income declined 96.0% year over year to ¥1.0 million, or 9 sen per share, from ¥25.0 million, or ¥2.29 per share.

As of Feb. 12, US$1 was equivalent to ¥112.83.