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Seoyon E-Hwa Q3 profit climbs 5.4% YOY

Seoyon E-Hwa Co. Ltd. said its normalized net income for the third quarter amounted to 384.33 South Korean won per share, a gain of 5.4% from 364.48 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 10.39 billion won, a gain of 5.4% from 9.85 billion won in the prior-year period.

The normalized profit margin rose to 2.0% from 1.9% in the year-earlier period.

Total revenue declined on an annual basis to 519.75 billion won from 526.17 billion won, and total operating expenses declined year over year to 497.90 billion won from 511.26 billion won.

Reported net income came to 10.65 billion won, or 394.17 won per share, compared to 10.57 billion won, or 391.30 won per share, in the prior-year period.

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