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Hwashin Tech Q3 loss narrows YOY

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Hwashin Tech Q3 loss narrows YOY

Hwashin Tech Co. Ltd. said its normalized net income for the third quarter amounted to a loss of 16.10 South Korean won per share, compared with a loss of 28.66 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 156.2 million won, compared with a loss of 266.3 million won in the year-earlier period.

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

Total revenue declined 10.2% year over year to 12.42 billion won from 13.83 billion won, and total operating expenses totaled 14.09 billion won, compared with 14.18 billion won in the prior-year period.

Reported net income totaled a loss of 1.12 billion won, or a loss of 115.84 won per share, compared to income of 65.0 million won, or 7.00 won per share, in the prior-year period.

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