Torq's Attributable Profit Drops Over 13% in Fiscal Nine Months

Torq's (TYO:8077) profit attributable to owners of the parent dropped 13.5% to 533 million yen in the fiscal nine months ended July 31, from 616 million yen a year ago as higher costs and expenses more than offset increased sales.

The company said earnings per share (EPS) came in at 21.43 yen for the fiscal nine months. It did not declare an EPS a year ago, according to a Thursday filing.

Net sales gained 2.3% to 16.6 billion yen from 16.2 billion yen a year earlier.

It forecasted attributable profit to decline 17.2% to 700 million yen or 28.17 yen per share and net sales to gain 1.1% to 22 billion yen for the fiscal year ending Oct. 31.

The company expects to pay a year-end dividend of 3 yen per share for the current fiscal year.

Torq's shares shed over 1.4% at market close.

Price (JPY): $203.00, Change: $-3.0, Percent Change: -1.46%