Ogura Clutch Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥12.32 per share, a decline of 27.3% from ¥16.95 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥184.5 million, a decline of 27.4% from ¥254.0 million in the year-earlier period.
The normalized profit margin dropped to 2.1% from 2.7% in the year-earlier period.
Total revenue declined 6.5% year over year to ¥8.94 billion from ¥9.56 billion, and total operating expenses declined 5.4% year over year to ¥8.71 billion from ¥9.21 billion.
Reported net income fell 61.8% on an annual basis to ¥124.0 million, or ¥8.28 per share, from ¥325.0 million, or ¥21.69 per share.
As of Feb. 12, US$1 was equivalent to ¥118.90.
