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Sunjin Q3 profit falls YOY

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Sunjin Q3 profit falls YOY

Sunjin Co. Ltd. said its third-quarter normalized net income came to 65.46 South Korean won per share, a decline of 50.6% from 132.62 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 1.07 billion won, a decrease of 50.7% from 2.16 billion won in the year-earlier period.

The normalized profit margin fell to 0.7% from 1.4% in the year-earlier period.

Total revenue totaled 152.31 billion won, compared with 151.38 billion won in the prior-year period, and total operating expenses fell year over year to 144.18 billion won from 145.72 billion won.

Reported net income decreased 52.1% from the prior-year period to 1.18 billion won, or 72.31 won per share, from 2.46 billion won, or 151.00 won per share.

As of Nov. 10, US$1 was equivalent to 1,159.52 South Korean won.