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Dongkook Industrial Q3 loss narrows YOY

Dongkook Industrial Co. Ltd. said its third-quarter normalized net income came to a loss of 43.21 South Korean won per share, compared with a loss of 179.18 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 1.15 billion won, compared with a loss of 5.00 billion won in the prior-year period.

The normalized profit margin rose to negative 0.8% from negative 3.3% in the year-earlier period.

Total revenue decreased 8.3% year over year to 138.49 billion won from 151.02 billion won, and total operating expenses fell 11.6% on an annual basis to 137.37 billion won from 155.43 billion won.

Reported net income totaled a loss of 1.81 billion won, or a loss of 68.77 won per share, compared to a loss of 10.63 billion won, or a loss of 404.00 won per share, in the prior-year period.

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