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Dae Won San Up swings to loss in Q3

Dae Won San Up Co. Ltd. said its normalized net income for the third quarter amounted to a loss of 167.25 South Korean won per share, compared with 125.07 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 3.35 billion won, compared with income of 2.28 billion won in the prior-year period.

The normalized profit margin fell to negative 1.9% from 1.3% in the year-earlier period.

Total revenue decreased year over year to 173.81 billion won from 178.95 billion won, and total operating expenses totaled 173.55 billion won, compared with 175.19 billion won in the prior-year period.

Reported net income totaled a loss of 4.69 billion won, or a loss of 233.96 won per share, compared to income of 3.36 billion won, or 184.55 won per share, in the prior-year period.

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