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SMC Corp. fiscal Q3 profit climbs 70.3% YOY

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SMC Corp. fiscal Q3 profit climbs 70.3% YOY

SMC Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, amounted to ¥537.49 per share, a gain of 70.3% from ¥315.68 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥36.12 billion, an increase of 70.3% from ¥21.21 billion in the prior-year period.

The normalized profit margin climbed to 29.8% from 18.2% in the year-earlier period.

Total revenue increased on an annual basis to ¥121.14 billion from ¥116.38 billion, and total operating expenses increased 5.6% year over year to ¥88.39 billion from ¥83.67 billion.

Reported net income increased 72.3% year over year to ¥42.55 billion, or ¥633.25 per share, from ¥24.70 billion, or ¥367.65 per share.

As of Feb. 8, US$1 was equivalent to ¥111.80.