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Sagami Rubber Industries fiscal Q3 profit climbs 33.8% YOY

Sagami Rubber Industries Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥16.71 per share, an increase of 33.8% from ¥12.49 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥181.6 million, a gain of 33.8% from ¥135.8 million in the year-earlier period.

The normalized profit margin increased to 13.9% from 12.0% in the year-earlier period.

Total revenue rose 15.4% year over year to ¥1.30 billion from ¥1.13 billion, and total operating expenses climbed 8.7% from the prior-year period to ¥1.05 billion from ¥965.0 million.

Reported net income increased 47.6% on an annual basis to ¥214.0 million, or ¥19.69 per share, from ¥145.0 million, or ¥13.34 per share.

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