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Winix Q3 loss narrows YOY

Winix Inc. said its third-quarter normalized net income amounted to a loss of 236.47 South Korean won per share, compared with a loss of 447.40 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 3.62 billion won, compared with a loss of 6.39 billion won in the prior-year period.

The normalized profit margin rose to negative 8.5% from negative 18.0% in the year-earlier period.

Total revenue grew 19.7% on an annual basis to 42.51 billion won from 35.51 billion won, and total operating expenses climbed year over year to 46.70 billion won from 45.54 billion won.

Reported net income came to a loss of 4.14 billion won, or a loss of 270.57 won per share, compared to a loss of 8.14 billion won, or a loss of 570.00 won per share, in the prior-year period.

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