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Ishigaki Foods fiscal Q3 loss narrows YOY

Ishigaki Foods Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of ¥3.50 per share, compared with a loss of ¥4.61 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥11.9 million, compared with a loss of ¥15.6 million in the prior-year period.

The normalized profit margin rose to negative 9.9% from negative 11.8% in the year-earlier period.

Total revenue fell 9.1% year over year to ¥120.0 million from ¥132.0 million, and total operating expenses fell 10.3% from the prior-year period to ¥139.0 million from ¥155.0 million.

Reported net income came to a loss of ¥19.0 million, or a loss of ¥5.61 per share, compared to a loss of ¥22.0 million, or a loss of ¥6.49 per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to ¥118.90.