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Daehan Synthetic Fiber Q3 loss narrows YOY

Daehan Synthetic Fiber Co. Ltd. said its normalized net income for the third quarter amounted to a loss of 2,949.38 South Korean won per share, compared with a loss of 4,006.69 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 3.31 billion won, compared with a loss of 4.50 billion won in the prior-year period.

The normalized profit margin rose to negative 10.3% from negative 14.4% in the year-earlier period.

Total revenue grew year over year to 32.20 billion won from 31.26 billion won, and total operating expenses declined on an annual basis to 36.98 billion won from 37.57 billion won.

Reported net income totaled a loss of 2.49 billion won, or a loss of 2,218.94 won per share, compared to a loss of 5.35 billion won, or a loss of 4,758.52 won per share, in the year-earlier period.

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