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Golf Do fiscal Q3 profit climbs 70.0% YOY

Golf Do Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to ¥7.53 per share, an increase of 66.0% from ¥4.53 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥19.1 million, an increase of 70.0% from ¥11.3 million in the prior-year period.

The normalized profit margin increased to 1.7% from 1.0% in the year-earlier period.

Total revenue rose on an annual basis to ¥1.12 billion from ¥1.10 billion, and total operating expenses came to ¥1.09 billion, compared with ¥1.08 billion in the prior-year period.

Reported net income rose from the prior-year period to ¥33.6 million, or ¥13.22 per share, from ¥13.0 million, or ¥5.24 per share.

As of Feb. 15, US$1 was equivalent to ¥114.50.