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Onkyo fiscal Q3 loss narrows YOY

Onkyo Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of ¥5.16 per share, compared with a loss of ¥8.13 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥320.0 million, compared with a loss of ¥500.1 million in the prior-year period.

The normalized profit margin increased to negative 3.2% from negative 6.2% in the year-earlier period.

Total revenue climbed 25.8% year over year to ¥10.15 billion from ¥8.07 billion, and total operating expenses climbed 23.1% on an annual basis to ¥10.75 billion from ¥8.73 billion.

Reported net income came to a loss of ¥2.42 billion, or a loss of ¥39.06 per share, compared to a loss of ¥779.0 million, or a loss of ¥12.67 per share, in the prior-year period.

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