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Fila Korea swings to loss in Q3

Fila Korea Ltd. said its third-quarter normalized net income came to a loss of 1,303.33 South Korean won per share, compared with 1,390.10 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 15.81 billion won, compared with income of 16.56 billion won in the prior-year period.

The normalized profit margin declined to negative 8.8% from 8.7% in the year-earlier period.

Total revenue increased on an annual basis to 196.38 billion won from 189.35 billion won, and total operating expenses climbed 5.2% from the prior-year period to 177.23 billion won from 168.48 billion won.

Reported net income totaled a loss of 18.15 billion won, or a loss of 1,610.00 won per share, compared to income of 20.98 billion won, or 1,761.00 won per share, in the year-earlier period.

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