Xhyungji Elite Co. Ltd. said its normalized net income for the fiscal third quarter ended March 31 was 62.99 South Korean won per share, a decline of 62.8% from 169.22 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 876.6 million won, a decrease of 57.3% from 2.05 billion won in the year-earlier period.

The normalized profit margin declined to 3.9% from 6.7% in the year-earlier period.

Total revenue decreased 25.6% on an annual basis to 22.67 billion won from 30.47 billion won, and total operating expenses decreased 23.3% from the prior-year period to 21.25 billion won from 27.71 billion won.

Reported net income decreased 56.5% year over year to 1.07 billion won, or 77.07 won per share, from 2.46 billion won, or 203.00 won per share.

As of May 29, US$1 was equivalent to 1,113.21 South Korean won.