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Crops Corp. fiscal Q3 profit falls YOY

Crops Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥9.17 per share, a decline of 25.3% from ¥12.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥88.0 million, a decrease of 25.3% from ¥117.9 million in the year-earlier period.

The normalized profit margin declined to 1.2% from 1.8% in the year-earlier period.

Total revenue grew 7.5% on an annual basis to ¥7.19 billion from ¥6.69 billion, and total operating expenses increased 8.5% year over year to ¥7.05 billion from ¥6.50 billion.

Reported net income fell 19.6% from the prior-year period to ¥78.0 million, or ¥8.13 per share, from ¥97.0 million, or ¥10.11 per share.

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