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F-Tech fiscal Q3 profit falls YOY

F-Tech Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥38.76 per share, a decrease of 38.2% from ¥62.75 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥595.3 million, a decrease of 23.2% from ¥775.4 million in the prior-year period.

The normalized profit margin fell to 1.4% from 1.8% in the year-earlier period.

Total revenue fell on an annual basis to ¥43.25 billion from ¥44.23 billion, and total operating expenses decreased from the prior-year period to ¥41.85 billion from ¥42.64 billion.

Reported net income fell 34.3% from the prior-year period to ¥608.0 million, or ¥39.59 per share, from ¥925.0 million, or ¥74.86 per share.

As of Feb. 12, US$1 was equivalent to ¥118.90.