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Coway Q3 profit climbs 40.4% YOY

Coway Co. Ltd. said its third-quarter normalized net income amounted to 1,034.89 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,142.38 won per share.

EPS increased 40.1% year over year from 738.66 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 77.21 billion won, an increase of 40.4% from 54.99 billion won in the prior-year period.

The normalized profit margin climbed to 13.3% from 10.5% in the year-earlier period.

Total revenue grew 10.4% year over year to 580.35 billion won from 525.52 billion won, and total operating expenses grew 6.1% year over year to 456.42 billion won from 430.23 billion won.

Reported net income grew 44.4% on an annual basis to 92.36 billion won, or 1,238.00 won per share, from 63.94 billion won, or 859.00 won per share.

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