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Pola Orbis Holdings Q3 profit climbs 96.7% YOY

Pola Orbis Holdings Inc. said its normalized net income for the third quarter amounted to ¥16.09 per share, a gain of 96.7% from ¥8.18 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.56 billion, an increase of 96.7% from ¥1.81 billion in the year-earlier period.

The normalized profit margin climbed to 6.8% from 3.9% in the year-earlier period.

Total revenue climbed 14.4% year over year to ¥52.72 billion from ¥46.08 billion, and total operating expenses grew 6.1% on an annual basis to ¥46.71 billion from ¥44.04 billion.

Reported net income increased year over year to ¥3.17 billion, or ¥14.31 per share, from ¥1.18 billion, or ¥5.32 per share.

As of Nov. 12, US$1 was equivalent to ¥122.92.