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Cross Plus swings to profit in fiscal Q3

Cross Plus Inc. said its normalized net income for the fiscal third quarter ended Oct. 31 amounted to ¥18.36 per share, compared with a loss of ¥13.15 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥134.4 million, compared with a loss of ¥96.3 million in the year-earlier period.

The normalized profit margin increased to 0.7% from negative 0.5% in the year-earlier period.

Total revenue declined year over year to ¥20.51 billion from ¥21.21 billion, and total operating expenses decreased 5.0% on an annual basis to ¥20.33 billion from ¥21.39 billion.

Reported net income totaled a loss of ¥36.0 million, or a loss of ¥4.92 per share, compared to a loss of ¥281.0 million, or a loss of ¥38.40 per share, in the prior-year period.

As of Dec. 15, US$1 was equivalent to ¥118.36.