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Hitachi fiscal Q3 profit falls YOY

Hitachi Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥13.24 per share, a decline of 13.7% from ¥15.34 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥63.94 billion, a decrease of 13.7% from ¥74.12 billion in the year-earlier period.

The normalized profit margin dropped to 2.8% from 3.2% in the year-earlier period.

Total revenue totaled ¥2.321 trillion, compared with ¥2.304 trillion in the prior-year period, and total operating expenses rose year over year to ¥2.213 trillion from ¥2.182 trillion.

Reported net income declined 11.8% on an annual basis to ¥83.33 billion, or ¥17.26 per share, from ¥94.50 billion, or ¥19.56 per share.

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