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Janome Sewing Machine fiscal Q3 profit climbs 23.5% YOY

Janome Sewing Machine Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥41.54 per share, a gain of 23.5% from ¥33.64 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥803.1 million, an increase of 23.5% from ¥650.3 million in the prior-year period.

The normalized profit margin increased to 6.1% from 5.4% in the year-earlier period.

Total revenue climbed 9.6% year over year to ¥13.15 billion from ¥12.00 billion, and total operating expenses climbed 9.0% on an annual basis to ¥11.99 billion from ¥11.01 billion.

Reported net income rose 32.2% year over year to ¥993.0 million, or ¥51.37 per share, from ¥751.0 million, or ¥38.85 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.