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Tiemco fiscal Q3 loss widens YOY

Tiemco Ltd. said its normalized net income for the fiscal third quarter ended Aug. 31 amounted to a loss of ¥8.08 per share, compared with a loss of ¥3.10 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥20.0 million, compared with a loss of ¥8.8 million in the prior-year period.

The normalized profit margin dropped to negative 3.1% from negative 1.3% in the year-earlier period.

Total revenue declined year over year to ¥652.0 million from ¥675.0 million, and total operating expenses came to ¥687.0 million, compared with ¥690.0 million in the year-earlier period.

Reported net income came to a loss of ¥26.0 million, or a loss of ¥10.50 per share, compared to a loss of ¥14.0 million, or a loss of ¥4.97 per share, in the prior-year period.

As of Oct. 14, US$1 was equivalent to ¥104.29.