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NSN Co. Q3 profit falls YOY

NSN Co. Ltd. said its third-quarter normalized net income came to 12.52 South Korean won per share, a decrease of 60.0% from 31.34 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 167.4 million won, a decline of 60.2% from 420.4 million won in the prior-year period.

The normalized profit margin dropped to 4.0% from 7.4% in the year-earlier period.

Total revenue declined 26.3% year over year to 4.16 billion won from 5.65 billion won, and total operating expenses declined 13.7% from the prior-year period to 4.45 billion won from 5.16 billion won.

Reported net income totaled 297.1 million won, or 22.22 won per share, compared to a loss of 2.09 billion won, or a loss of 156.00 won per share, in the year-earlier period.

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