Sadamatsu Co. Ltd. said its normalized net income for the fiscal third quarter ended May 31 came to ¥5.00 per share, a decline of 18.2% from ¥6.11 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.6 million, a decrease of 18.2% from ¥6.9 million in the year-earlier period.

The normalized profit margin declined to 0.3% from 0.3% in the year-earlier period.

Total revenue grew 6.7% year over year to ¥2.19 billion from ¥2.05 billion, and total operating expenses increased 7.0% year over year to ¥2.18 billion from ¥2.04 billion.

Reported net income totaled a loss of ¥17.0 million, or a loss of ¥15.11 per share, compared to a loss of ¥5.0 million, or a loss of ¥4.44 per share, in the year-earlier period.

As of July 10, US$1 was equivalent to ¥122.69.