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Daehyun Q3 loss narrows YOY

Daehyun Co. Ltd. said its normalized net income for the third quarter amounted to a loss of 25.68 South Korean won per share, compared with a loss of 40.42 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 a loss of 1.14 billion won, compared with a loss of 1.78 billion won in the prior-year period.

The normalized profit margin increased to negative 2.2% from negative 3.7% in the year-earlier period.

Total revenue rose 8.1% year over year to 51.37 billion won from 47.53 billion won, and total operating expenses rose 5.7% from the prior-year period to 52.75 billion won from 49.92 billion won.

Reported net income came to a loss of 1.48 billion won, or a loss of 33.53 won per share, compared to a loss of 2.25 billion won, or a loss of 51.00 won per share, in the prior-year period.

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