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Marudai Food fiscal Q3 profit falls YOY

Marudai Food Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥8.70 per share, a decrease of 29.1% from ¥12.27 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.13 billion, a decline of 29.1% from ¥1.59 billion in the year-earlier period.

The normalized profit margin fell to 1.8% from 2.6% in the year-earlier period.

Total revenue grew year over year to ¥62.32 billion from ¥60.26 billion, and total operating expenses climbed from the prior-year period to ¥60.53 billion from ¥57.74 billion.

Reported net income declined 25.8% on an annual basis to ¥1.15 billion, or ¥8.87 per share, from ¥1.55 billion, or ¥11.95 per share.

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