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Right On fiscal Q3 profit climbs 66.4% YOY

Right On Co. Ltd. said its normalized net income for the fiscal third quarter ended May 20 was ¥20.18 per share, a gain of 66.3% from ¥12.14 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥551.3 million, an increase of 66.4% from ¥331.3 million in the prior-year period.

The normalized profit margin rose to 2.8% from 1.9% in the year-earlier period.

Total revenue grew 11.9% year over year to ¥19.53 billion from ¥17.45 billion, and total operating expenses rose 10.2% from the prior-year period to ¥18.61 billion from ¥16.89 billion.

Reported net income rose on an annual basis to ¥424.0 million, or ¥15.52 per share, from ¥62.0 million, or ¥2.27 per share.

As of July 3, US$1 was equivalent to ¥122.73.