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TJ Media swings to profit in Q3

TJ Media Co. Ltd. said its third-quarter normalized net income was 23.24 South Korean won per share, compared with a loss of 34.67 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 323.7 million won, compared with a loss of 487.2 million won in the prior-year period.

The normalized profit margin climbed to 1.9% from negative 3.9% in the year-earlier period.

Total revenue rose 40.8% year over year to 17.36 billion won from 12.33 billion won, and total operating expenses increased 26.8% on an annual basis to 17.08 billion won from 13.47 billion won.

Reported net income came to 599.4 million won, or 43.02 won per share, compared to a loss of 688.5 million won, or a loss of 49.00 won per share, in the prior-year period.

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