Kawasaki & Co. Ltd. said its normalized net income for the fiscal third quarter ended May 31 amounted to ¥25.94 per share, a gain of 50.5% from ¥17.24 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥59.4 million, an increase of 41.8% from ¥41.9 million in the prior-year period.

The normalized profit margin increased to 10.3% from 7.2% in the year-earlier period.

Total revenue fell on an annual basis to ¥574.0 million from ¥585.0 million, and total operating expenses declined 5.9% year over year to ¥494.0 million from ¥525.0 million.

Reported net income increased 36.6% on an annual basis to ¥56.0 million, or ¥24.47 per share, from ¥41.0 million, or ¥16.88 per share.

As of July 13, US$1 was equivalent to ¥123.47.