D&M Holdings, in filing yesterday with the Tokyo Stock Exchange, announced a 103-percent jump in year-over-year operating profit during the first nine months of its fiscal year ended December 31. The company also raised its previous net income forecast for consolidated business results for the full 2006 fiscal year.
The company’s consolidated revenue for the first nine months of the fiscal year totaled JPY71.0 billion. Consolidated revenue was 6.5% higher compared to the same period of the previous year despite the absence of revenue contributions from Rio, which was discontinued.
For the nine-month period, the company reported an operating profit of JPY4.4 billion, a 103% increase from the year-ago period. Profitability greatly improved compared to a year ago following sales growth from new distribution channels and market share gains in AV receivers. Operations also benefited from full year results from Boston Acoustics and the exit from the Rio business. For the same nine-month period, the company reported net income of JPY2.4 billion and fully diluted EPS of JPY26.6, compared to JPY3.0 billion and fully diluted EPS of JPY34.0 from the year-ago period. Net income and EPS were higher in the nine-month period one year ago due to an extraordinary gain of JPY3.2 billion, which impacted EPS by JPY21.5 after taxes.