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Tone Co. fiscal Q3 profit climbs 5.8% YOY

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Tone Co. fiscal Q3 profit climbs 5.8% YOY

Tone Co. Ltd. said its normalized net income for the fiscal third quarter ended Feb. 28 amounted to ¥44.56 per share, a gain of 5.8% from ¥42.14 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥91.9 million, an increase of 5.8% from ¥86.9 million in the year-earlier period.

The normalized profit margin dropped to 8.6% from 9.3% in the year-earlier period.

Total revenue grew 14.0% on an annual basis to ¥1.07 billion from ¥939.0 million, and total operating expenses grew 13.6% from the prior-year period to ¥929.0 million from ¥818.0 million.

Reported net income declined 27.4% year over year to ¥77.0 million, or ¥37.35 per share, from ¥106.0 million, or ¥51.41 per share.

As of April 10, US$1 was equivalent to ¥120.22.