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RVH swings to profit in fiscal Q3

RVH Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was ¥12.17 per share, compared with a loss of ¥6.37 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥143.1 million, compared with a loss of ¥45.0 million in the prior-year period.

The normalized profit margin rose to 5.9% from negative 3.7% in the year-earlier period.

Total revenue rose 98.3% year over year to ¥2.43 billion from ¥1.23 billion, and total operating expenses increased on an annual basis to ¥2.20 billion from ¥1.10 billion.

Reported net income declined 78.4% from the prior-year period to ¥179.3 million, or ¥15.22 per share, from ¥830.5 million, or ¥117.65 per share.

As of Feb. 15, US$1 was equivalent to ¥114.50.