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Hantop Q3 loss widens YOY

Hantop Inc. said its normalized net income for the third quarter came to a loss of 89.42 South Korean won per share, compared with a loss of 39.87 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 a loss of 1.74 billion won, compared with a loss of 771.9 million won in the prior-year period.

The normalized profit margin fell to negative 5.8% from negative 2.8% in the year-earlier period.

Total revenue climbed 7.4% year over year to 30.07 billion won from 27.99 billion won, and total operating expenses increased 8.4% from the prior-year period to 30.26 billion won from 27.92 billion won.

Reported net income came to a loss of 2.71 billion won, or a loss of 138.99 won per share, compared to a loss of 1.28 billion won, or a loss of 66.00 won per share, in the year-earlier period.

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