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Suminoe Textile fiscal Q3 profit climbs 7.6% YOY

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Suminoe Textile fiscal Q3 profit climbs 7.6% YOY

Suminoe Textile Co. Ltd. said its normalized net income for the fiscal third quarter ended Feb. 28 amounted to ¥39.50 per share, an increase of 7.6% from ¥36.71 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥298.0 million, a gain of 7.6% from ¥277.0 million in the prior-year period.

The normalized profit margin rose to 1.3% from 1.2% in the year-earlier period.

Total revenue climbed on an annual basis to ¥23.23 billion from ¥22.81 billion, and total operating expenses rose year over year to ¥22.72 billion from ¥22.27 billion.

Reported net income increased 5.4% on an annual basis to ¥310.0 million, or ¥41.09 per share, from ¥294.0 million, or ¥38.96 per share.

As of April 13, US$1 was equivalent to ¥120.36.