Megastudy Co. Ltd. said its third-quarter normalized net income amounted to 210.78 South Korean won per share, a decline of 61.7% from 550.52 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 833.1 million won, a decrease of 61.7% from 2.18 billion won in the prior-year period.

The normalized profit margin declined to 2.5% from 6.1% in the year-earlier period.

Total revenue declined on an annual basis to 33.95 billion won from 35.55 billion won, and total operating expenses rose from the prior-year period to 31.65 billion won from 31.04 billion won.

Reported net income declined 67.7% on an annual basis to 967.9 million won, or 244.90 won per share, from 3.00 billion won, or 758.50 won per share.

As of Nov. 20, US$1 was equivalent to 1,151.89 South Korean won.