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SAMJIN Q3 profit falls YOY

Samjin Co. Ltd. said its third-quarter normalized net income amounted to 313.15 South Korean won per share, a decrease from 323.94 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 1.88 billion won, a decline from 1.94 billion won in the year-earlier period.

The normalized profit margin dropped to 5.8% from 5.8% in the year-earlier period.

Total revenue fell year over year to 32.61 billion won from 33.42 billion won, and total operating expenses declined on an annual basis to 30.48 billion won from 31.20 billion won.

Reported net income declined 5.0% year over year to 2.49 billion won, or 415.35 won per share, from 2.62 billion won, or 437.00 won per share.

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