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Longtu Korea Q3 loss widens 29.5% YOY

Longtu Korea Inc. said its third-quarter normalized net income amounted to a loss of 13.56 South Korean won per share, compared with a loss of 29.36 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 269.9 million won, compared with a loss of 208.4 million won in the year-earlier period.

The normalized profit margin rose to negative 6.4% from negative 6.4% in the year-earlier period.

Total revenue grew 38.6% on an annual basis to 4.48 billion won from 3.23 billion won, and total operating expenses rose 38.3% on an annual basis to 4.95 billion won from 3.58 billion won.

Reported net income came to a loss of 338.4 million won, or a loss of 23.62 won per share, compared to a loss of 333.6 million won, or a loss of 47.00 won per share, in the prior-year period.

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