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Rhythm Watch fiscal Q3 profit climbs 9.1% YOY

Rhythm Watch Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥20.17 per share, a gain of 9.1% from ¥18.49 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥233.1 million, a gain of 9.1% from ¥213.8 million in the year-earlier period.

The normalized profit margin declined to 2.3% from 2.4% in the year-earlier period.

Total revenue grew 12.3% on an annual basis to ¥10.18 billion from ¥9.06 billion, and total operating expenses grew 12.2% on an annual basis to ¥9.91 billion from ¥8.84 billion.

Reported net income rose 29.4% on an annual basis to ¥352.0 million, or ¥30.45 per share, from ¥272.0 million, or ¥23.52 per share.

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