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Earth Chemical Q3 profit falls YOY

Earth Corp. said its third-quarter normalized net income came to ¥29.04 per share, a decrease of 29.7% from ¥41.28 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥586.4 million, a decline of 29.7% from ¥833.8 million in the year-earlier period.

The normalized profit margin fell to 1.5% from 2.4% in the year-earlier period.

Total revenue increased 14.3% year over year to ¥39.09 billion from ¥34.20 billion, and total operating expenses increased 14.6% from the prior-year period to ¥37.84 billion from ¥33.03 billion.

Reported net income fell 13.2% on an annual basis to ¥547.0 million, or ¥27.09 per share, from ¥630.0 million, or ¥31.19 per share.

As of Nov. 9, US$1 was equivalent to ¥123.27.