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Seoyon Electronics Q3 profit falls YOY

Seoyon Electronics Co. Ltd. said its normalized net income for the third quarter came to 2.24 South Korean won per share, a decline of 95.6% from 51.39 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 60.0 million won, a decrease of 95.6% from 1.38 billion won in the prior-year period.

The normalized profit margin fell to 0.0% from 0.8% in the year-earlier period.

Total revenue fell on an annual basis to 159.25 billion won from 163.46 billion won, and total operating expenses totaled 158.62 billion won, compared with 157.80 billion won in the year-earlier period.

Reported net income came to a loss of 130.4 million won, or a loss of 4.87 won per share, compared to income of 2.12 billion won, or 79.00 won per share, in the prior-year period.

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