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Motonic Q3 profit falls YOY

Motonic Corp. said its third-quarter normalized net income came to 92.57 South Korean won per share, a decrease of 35.3% from 143.01 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 2.12 billion won, a decline of 34.9% from 3.25 billion won in the prior-year period.

The normalized profit margin dropped to 4.2% from 6.4% in the year-earlier period.

Total revenue decreased year over year to 49.85 billion won from 51.02 billion won, and total operating expenses came to 48.60 billion won, compared with 48.16 billion won in the year-earlier period.

Reported net income declined 36.8% from the prior-year period to 2.39 billion won, or 104.47 won per share, from 3.78 billion won, or 166.00 won per share.

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