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Pacific Net fiscal Q3 profit falls YOY

Pacific Net Co. Ltd. said its normalized net income for the fiscal third quarter ended Feb. 28 came to ¥5.07 per share, a decline of 54.3% from ¥11.11 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥26.3 million, a decrease of 54.3% from ¥57.5 million in the prior-year period.

The normalized profit margin declined to 2.5% from 5.8% in the year-earlier period.

Total revenue rose 6.5% year over year to ¥1.05 billion from ¥988.0 million, and total operating expenses increased 12.7% from the prior-year period to ¥1.01 billion from ¥901.0 million.

Reported net income fell 7.1% from the prior-year period to ¥52.0 million, or ¥10.05 per share, from ¥56.0 million, or ¥10.82 per share.

As of April 14, US$1 was equivalent to ¥119.09.