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HYUNGJI Innovation Q3 loss widens 75.4% YOY

HYUNGJI Innovation & Creative Co. Ltd. said its third-quarter normalized net income came to a loss of 29.29 South Korean won per share, compared with a loss of 19.38 won 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 956.8 million won, compared with a loss of 545.6 million won in the prior-year period.

The normalized profit margin declined to negative 4.3% from negative 2.8% in the year-earlier period.

Total revenue increased 16.6% on an annual basis to 22.47 billion won from 19.27 billion won, and total operating expenses rose 19.3% year over year to 23.80 billion won from 19.95 billion won.

Reported net income came to a loss of 1.53 billion won, or a loss of 46.87 won per share, compared to a loss of 873.0 million won, or a loss of 31.00 won per share, in the year-earlier period.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.