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OM2 Network fiscal Q3 profit climbs 48.9% YOY

OM2 Network Co. Ltd. said its normalized net income for the fiscal third quarter ended Oct. 31 came to ¥38.24 per share, an increase of 48.9% from ¥25.67 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥260.6 million, an increase of 48.9% from ¥175.0 million in the prior-year period.

The normalized profit margin rose to 2.9% from 2.1% in the year-earlier period.

Total revenue increased 5.8% on an annual basis to ¥9.02 billion from ¥8.52 billion, and total operating expenses rose from the prior-year period to ¥8.62 billion from ¥8.27 billion.

Reported net income rose 52.8% from the prior-year period to ¥220.0 million, or ¥32.28 per share, from ¥144.0 million, or ¥21.13 per share.

As of Dec. 12, US$1 was equivalent to ¥118.57.