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Yamada Denki fiscal Q3 profit falls YOY

Yamada Denki Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥16.75 per share, a gain of 15.2% from ¥14.54 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥12.64 billion, a decrease of 5.1% from ¥13.32 billion in the prior-year period.

The normalized profit margin climbed to 3.0% from 2.9% in the year-earlier period.

Total revenue fell 9.8% year over year to ¥415.71 billion from ¥460.73 billion, and total operating expenses fell 9.2% year over year to ¥403.59 billion from ¥444.51 billion.

Reported net income declined year over year to ¥10.02 billion, or ¥13.27 per share, from ¥10.53 billion, or ¥11.49 per share.

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