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Ewon Comfortech swings to profit in Q3

Ewon Comfortech Co. Ltd. said its normalized net income for the third quarter was 94.59 South Korean won per share, compared with a loss of 8.13 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 1.19 billion won, compared with a loss of 98.8 million won in the year-earlier period.

The normalized profit margin rose to 13.4% from negative 1.3% in the year-earlier period.

Total revenue grew 16.8% on an annual basis to 8.73 billion won from 7.48 billion won, and total operating expenses rose 16.7% on an annual basis to 8.61 billion won from 7.37 billion won.

Reported net income came to 1.89 billion won, or 150.62 won per share, compared to a loss of 158.1 million won, or a loss of 13.00 won per share, in the year-earlier period.

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