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Pickles Corp. swings to profit in fiscal Q3

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Pickles Corp. swings to profit in fiscal Q3

Pickles Corp. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, was ¥22.11 per share, compared with a loss of ¥7.17 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥134.8 million, compared with a loss of ¥45.9 million in the year-earlier period.

The normalized profit margin climbed to 2.1% from negative 0.7% in the year-earlier period.

Total revenue rose on an annual basis to ¥6.32 billion from ¥6.22 billion, and total operating expenses decreased year over year to ¥6.11 billion from ¥6.30 billion.

Reported net income totaled ¥123.0 million, or ¥20.18 per share, compared to a loss of ¥57.0 million, or a loss of ¥8.91 per share, in the year-earlier period.

As of Jan. 14, US$1 was equivalent to ¥116.84.