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Kyocera fiscal Q3 profit climbs 29.1% YOY

Kyocera Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, came to ¥81.13 per share, an increase of 28.8% from ¥63.00 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥29.83 billion, a gain of 29.1% from ¥23.11 billion in the year-earlier period.

The normalized profit margin increased to 8.3% from 6.2% in the year-earlier period.

Total revenue decreased on an annual basis to ¥361.38 billion from ¥370.45 billion, and total operating expenses fell 5.6% on an annual basis to ¥328.07 billion from ¥347.54 billion.

Reported net income rose 298.2% year over year to ¥34.70 billion, or ¥94.36 per share, from ¥8.71 billion, or ¥23.75 per share.

As of Feb. 14, US$1 was equivalent to ¥114.11.