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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, 2014, was ¥1.54 per share, a decline of 35.7% from ¥2.40 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥16.9 million, a decline of 35.7% from ¥26.3 million in the year-earlier period.

The normalized profit margin fell to 2.2% from 3.7% in the year-earlier period.

Total revenue climbed 5.7% year over year to ¥758.0 million from ¥717.0 million, and total operating expenses climbed 8.4% year over year to ¥734.0 million from ¥677.0 million.

Reported net income decreased 45.7% year over year to ¥25.0 million, or ¥2.29 per share, from ¥46.0 million, or ¥4.21 per share.

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