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New Art swings to profit in fiscal Q3

New Art Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to 7 Japanese sen per share, compared with a loss of 22 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 ¥25.0 million, compared with a loss of ¥40.0 million in the year-earlier period.

The normalized profit margin climbed to 1.1% from negative 2.1% in the year-earlier period.

Total revenue grew 17.9% year over year to ¥2.27 billion from ¥1.92 billion, and total operating expenses grew 8.8% year over year to ¥2.16 billion from ¥1.98 billion.

Reported net income came to ¥21.0 million, or 6 sen per share, compared to a loss of ¥172.0 million, or a loss of 94 sen per share, in the prior-year period.

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