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Futaba Industrial fiscal Q3 profit climbs 91.9% YOY

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Futaba Industrial fiscal Q3 profit climbs 91.9% YOY

Futaba Industrial Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥3.95 per share, a gain of 91.9% from ¥2.06 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥276.6 million, a gain of 91.9% from ¥144.1 million in the prior-year period.

The normalized profit margin increased to 0.3% from 0.2% in the year-earlier period.

Total revenue grew 10.3% year over year to ¥105.91 billion from ¥96.00 billion, and total operating expenses rose 10.1% year over year to ¥105.71 billion from ¥96.04 billion.

Reported net income came to ¥21.0 million, or 30 sen per share, compared to a loss of ¥418.0 million, or a loss of ¥5.98 per share, in the year-earlier period.

As of Feb. 10, US$1 was equivalent to ¥119.28.