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Banners Co. fiscal Q3 profit falls YOY

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Banners Co. fiscal Q3 profit falls YOY

Banners Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 62 Japanese sen per share, a decline of 24.3% from 81 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥11.9 million, a decline of 26.9% from ¥16.3 million in the prior-year period.

The normalized profit margin fell to 1.3% from 1.6% in the year-earlier period.

Total revenue fell 14.6% on an annual basis to ¥884.0 million from ¥1.03 billion, and total operating expenses fell 14.3% year over year to ¥861.0 million from ¥1.00 billion.

Reported net income fell 29.4% on an annual basis to ¥24.0 million, or ¥1.25 per share, from ¥34.0 million, or ¥1.70 per share.

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