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Daishin Information fiscal Q3 profit falls YOY

Daishin Information & Communications Co.Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 25.96 South Korean won per share, a decrease of 47.0% from 48.96 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 997.7 million won, a decrease of 47.0% from 1.88 billion won in the year-earlier period.

The normalized profit margin dropped to 1.7% from 3.5% in the year-earlier period.

Total revenue rose 6.6% year over year to 57.36 billion won from 53.78 billion won, and total operating expenses rose 9.9% on an annual basis to 55.83 billion won from 50.79 billion won.

Reported net income declined 46.0% on an annual basis to 1.25 billion won, or 32.54 won per share, from 2.31 billion won, or 60.20 won per share.

As of Feb. 15, US$1 was equivalent to 1,212.28 South Korean won.