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Noritsu Koki swings to loss in fiscal Q3

Noritsu Koki Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to a loss of ¥103.68 per share, compared with ¥20.18 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥3.69 billion, compared with income of ¥718.8 million in the year-earlier period.

The normalized profit margin dropped to negative 23.5% from 5.2% in the year-earlier period.

Total revenue increased 13.1% on an annual basis to ¥15.72 billion from ¥13.90 billion, and total operating expenses grew 69.9% year over year to ¥21.73 billion from ¥12.79 billion.

Reported net income totaled a loss of ¥6.20 billion, or a loss of ¥174.09 per share, compared to income of ¥842.0 million, or ¥23.64 per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to ¥112.83.