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Ichikoh Industries swings to profit in fiscal Q3

Ichikoh Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥4.01 per share, compared with a loss of 53 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥384.5 million, compared with a loss of ¥50.5 million in the prior-year period.

The normalized profit margin increased to 1.7% from negative 0.2% in the year-earlier period.

Total revenue climbed 5.1% on an annual basis to ¥22.97 billion from ¥21.84 billion, and total operating expenses climbed 6.0% from the prior-year period to ¥23.28 billion from ¥21.97 billion.

Reported net income increased from the prior-year period to ¥1.38 billion, or ¥14.39 per share, from ¥368.0 million, or ¥3.84 per share.

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