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JICO co. Q3 loss widens YOY

JICO co. Ltd. said its normalized net income for the third quarter came to a loss of 10.70 South Korean won per share, compared with a loss of 3.83 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 296.1 million won, compared with a loss of 106.4 million won in the year-earlier period.

The normalized profit margin fell to negative 1.6% from negative 0.5% in the year-earlier period.

Total revenue declined 8.7% year over year to 18.88 billion won from 20.67 billion won, and total operating expenses fell 7.1% year over year to 19.14 billion won from 20.60 billion won.

Reported net income totaled a loss of 501.8 million won, or a loss of 18.13 won per share, compared to a loss of 444.3 million won, or a loss of 16.00 won per share, in the prior-year period.

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