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Hankook Cosmetics swings to loss in Q3

Hankook Cosmetics Co. Ltd. said its third-quarter normalized net income came to a loss of 122.63 South Korean won per share, compared with 2,015.63 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 a loss of 1.97 billion won, compared with income of 32.38 billion won in the prior-year period.

The normalized profit margin declined to negative 8.0% from 166.1% in the year-earlier period.

Total revenue climbed 26.5% year over year to 24.67 billion won from 19.50 billion won, and total operating expenses climbed 20.2% from the prior-year period to 26.40 billion won from 21.95 billion won.

Reported net income totaled a loss of 3.15 billion won, or a loss of 196.21 won per share, compared to income of 51.81 billion won, or 3,225.00 won per share, in the year-earlier period.

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