International Conglomerate of Distribution for Automobile Holdings Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥31.49 per share, a decrease of 55.7% from ¥71.05 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥66.1 million, a decrease of 55.7% from ¥149.3 million in the prior-year period.
The normalized profit margin fell to 1.1% from 2.2% in the year-earlier period.
Total revenue declined 13.0% year over year to ¥5.95 billion from ¥6.84 billion, and total operating expenses fell 11.6% on an annual basis to ¥5.82 billion from ¥6.58 billion.
Reported net income fell 45.8% year over year to ¥65.0 million, or ¥30.95 per share, from ¥120.0 million, or ¥57.13 per share.
As of Feb. 13, US$1 was equivalent to ¥118.68.
