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Zero To Seven swings to profit in Q3

Zero To Seven Inc. said its third-quarter normalized net income was 96.05 South Korean won per share, compared with a loss of 6.14 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 1.18 billion won, compared with a loss of 77.4 million won in the year-earlier period.

The normalized profit margin rose to 1.7% from negative 0.1% in the year-earlier period.

Total revenue grew 13.7% on an annual basis to 68.28 billion won from 60.05 billion won, and total operating expenses rose 12.8% year over year to 68.15 billion won from 60.44 billion won.

Reported net income totaled 1.43 billion won, or 116.59 won per share, compared to a loss of 151.2 million won, or a loss of 12.00 won per share, in the year-earlier period.

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