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Welcron swings to loss in Q3

Welcron Co. Ltd. said its third-quarter normalized net income amounted to a loss of 9.86 South Korean won per share, compared with 14.82 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 247.3 million won, compared with income of 331.1 million won in the year-earlier period.

The normalized profit margin fell to negative 0.4% from 0.6% in the year-earlier period.

Total revenue climbed 16.7% on an annual basis to 63.08 billion won from 54.05 billion won, and total operating expenses increased 12.6% year over year to 62.36 billion won from 55.41 billion won.

Reported net income came to a loss of 512.4 million won, or a loss of 20.47 won per share, compared to a loss of 335.2 million won, or a loss of 15.00 won per share, in the year-earlier period.

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