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Suminoe Textile fiscal Q2 profit climbs 17.1% YOY

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Suminoe Textile fiscal Q2 profit climbs 17.1% YOY

Suminoe Textile Co. Ltd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, was ¥101.94 per share, an increase of 17.1% from ¥87.02 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥769.1 million, a gain of 17.1% from ¥656.6 million in the prior-year period.

The normalized profit margin rose to 3.3% from 2.7% in the year-earlier period.

Total revenue declined year over year to ¥23.63 billion from ¥23.89 billion, and total operating expenses fell year over year to ¥22.46 billion from ¥22.80 billion.

Reported net income increased 38.1% year over year to ¥834.0 million, or ¥110.54 per share, from ¥604.0 million, or ¥80.04 per share.

As of Jan. 13, US$1 was equivalent to ¥118.49.