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Yamaki swings to profit in fiscal Q3

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Yamaki swings to profit in fiscal Q3

Yamaki Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 62 Japanese sen per share, compared with a loss of ¥11.10 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.9 million, compared with a loss of ¥83.6 million in the prior-year period.

The normalized profit margin increased to 0.1% from negative 2.2% in the year-earlier period.

Total revenue totaled ¥3.82 billion, compared with ¥3.80 billion in the prior-year period, and total operating expenses declined on an annual basis to ¥3.89 billion from ¥3.97 billion.

Reported net income came to ¥238.3 million, or ¥30.41 per share, compared to a loss of ¥155.5 million, or a loss of ¥20.64 per share, in the prior-year period.

As of Feb. 16, US$1 was equivalent to ¥118.46.