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Daesung Eltec Q3 profit climbs 6.1% YOY

Daesung Eltec Co. Ltd. said its third-quarter normalized net income amounted to 7.64 South Korean won per share, an increase from 7.47 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 525.4 million won, an increase of 6.1% from 495.4 million won in the prior-year period.

The normalized profit margin climbed to 0.6% from 0.5% in the year-earlier period.

Total revenue decreased year over year to 91.72 billion won from 95.84 billion won, and total operating expenses declined year over year to 91.32 billion won from 93.79 billion won.

Reported net income grew 31.0% from the prior-year period to 1.04 billion won, or 15.17 won per share, from 796.1 million won, or 12.00 won per share.

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