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Hoosiers Holdings swings to profit in fiscal Q3

Hoosiers Holdings said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥6.13 per share, compared with a loss of ¥2.14 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥187.5 million, compared with a loss of ¥67.5 million in the year-earlier period.

The normalized profit margin increased to 3.1% from negative 2.5% in the year-earlier period.

Total revenue rose year over year to ¥6.09 billion from ¥2.73 billion, and total operating expenses climbed on an annual basis to ¥5.72 billion from ¥2.78 billion.

Reported net income totaled ¥187.4 million, or ¥6.13 per share, compared to a loss of ¥58.0 million, or a loss of ¥1.84 per share, in the year-earlier period.

As of Feb. 10, US$1 was equivalent to ¥119.28.