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CLIP fiscal Q3 profit falls YOY

CLIP Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥18.26 per share, a decrease of 34.5% from ¥27.87 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥81.9 million, a decline of 34.5% from ¥125.0 million in the prior-year period.

The normalized profit margin fell to 8.7% from 11.5% in the year-earlier period.

Total revenue decreased 13.4% year over year to ¥944.0 million from ¥1.09 billion, and total operating expenses decreased 8.4% year over year to ¥816.0 million from ¥891.0 million.

Reported net income declined 33.9% from the prior-year period to ¥82.0 million, or ¥18.28 per share, from ¥124.0 million, or ¥27.65 per share.

As of Feb. 6, US$1 was equivalent to ¥119.01.