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Descente fiscal Q3 profit climbs 42.6% YOY

Descente Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥14.92 per share, an increase of 42.6% from ¥10.46 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.12 billion, an increase of 42.6% from ¥788.1 million in the year-earlier period.

The normalized profit margin increased to 3.8% from 3.1% in the year-earlier period.

Total revenue increased 13.4% on an annual basis to ¥29.20 billion from ¥25.74 billion, and total operating expenses increased 11.9% on an annual basis to ¥27.57 billion from ¥24.64 billion.

Reported net income grew 47.4% on an annual basis to ¥1.36 billion, or ¥18.12 per share, from ¥926.0 million, or ¥12.29 per share.

As of Feb. 5, US$1 was equivalent to ¥117.45.