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Asante fiscal Q3 profit falls YOY

Asante Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥20.98 per share, a decrease of 24.8% from ¥27.90 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥258.8 million, a decline of 24.5% from ¥342.5 million in the year-earlier period.

The normalized profit margin dropped to 9.2% from 11.4% in the year-earlier period.

Total revenue decreased 6.2% year over year to ¥2.83 billion from ¥3.01 billion, and total operating expenses decreased from the prior-year period to ¥2.41 billion from ¥2.46 billion.

Reported net income declined 21.5% on an annual basis to ¥249.0 million, or ¥20.19 per share, from ¥317.0 million, or ¥25.82 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.