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KB Metal Q3 loss narrows YOY

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KB Metal Q3 loss narrows YOY

KB Metal Co. Ltd. said its normalized net income for the third quarter came to a loss of 59.54 South Korean won per share, compared with a loss of 71.41 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 a loss of 1.26 billion won, compared with a loss of 1.52 billion won in the prior-year period.

The normalized profit margin climbed to negative 1.2% from negative 1.4% in the year-earlier period.

Total revenue totaled 106.00 billion won, compared with 106.03 billion won in the prior-year period, and total operating expenses increased from the prior-year period to 109.67 billion won from 108.18 billion won.

Reported net income totaled a loss of 1.93 billion won, or a loss of 91.20 won per share, compared to a loss of 2.34 billion won, or a loss of 110.00 won per share, in the year-earlier period.

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