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Ten Allied swings to profit in fiscal Q3

Ten Allied Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to ¥3.42 per share, compared with a loss of 10 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥88.8 million, compared with a loss of ¥2.5 million in the year-earlier period.

The normalized profit margin climbed to 2.2% from negative 0.1% in the year-earlier period.

Total revenue grew year over year to ¥3.96 billion from ¥3.92 billion, and total operating expenses decreased year over year to ¥3.82 billion from ¥3.93 billion.

Reported net income totaled ¥121.0 million, or ¥4.66 per share, compared to a loss of ¥36.0 million, or a loss of ¥1.39 per share, in the year-earlier period.

As of Feb. 9, US$1 was equivalent to ¥114.79.