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Chuo Malleable Iron fiscal Q3 profit climbs YOY

Chuo Malleable Iron Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥17.42 per share, a gain from ¥4.70 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥253.4 million, a gain from ¥68.4 million in the prior-year period.

The normalized profit margin rose to 4.3% from 1.3% in the year-earlier period.

Total revenue rose 10.4% on an annual basis to ¥5.96 billion from ¥5.39 billion, and total operating expenses climbed 7.2% from the prior-year period to ¥5.75 billion from ¥5.37 billion.

Reported net income rose year over year to ¥296.0 million, or ¥20.35 per share, from ¥56.0 million, or ¥3.85 per share.

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