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Duckyang Industry Q3 loss widens 54.6% YOY

Duckyang Industry Co. Ltd. said its third-quarter normalized net income came to a loss of 56.61 South Korean won per share, compared with a loss of 36.59 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 1.83 billion won, compared with a loss of 1.18 billion won in the prior-year period.

The normalized profit margin dropped to negative 0.8% from negative 0.7% in the year-earlier period.

Total revenue rose 38.8% on an annual basis to 228.49 billion won from 164.59 billion won, and total operating expenses climbed 39.2% from the prior-year period to 230.20 billion won from 165.39 billion won.

Reported net income totaled a loss of 2.18 billion won, or a loss of 67.48 won per share, compared to a loss of 1.49 billion won, or a loss of 46.00 won per share, in the prior-year period.

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