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NVH Korea swings to profit in Q3

NVH Korea Inc. said its normalized net income for the third quarter came to 52.13 South Korean won per share, compared with a loss of 137.10 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.45 billion won, compared with a loss of 3.93 billion won in the year-earlier period.

The normalized profit margin rose to 1.2% from negative 3.4% in the year-earlier period.

Total revenue climbed 9.0% on an annual basis to 124.76 billion won from 114.41 billion won, and total operating expenses increased on an annual basis to 116.66 billion won from 112.69 billion won.

Reported net income totaled a loss of 1.33 billion won, or a loss of 47.90 won per share, compared to a loss of 6.48 billion won, or a loss of 226.00 won per share, in the year-earlier period.

As of Nov. 23, US$1 was equivalent to 1,158.94 South Korean won.