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Samsung Climate Control Q3 profit climbs 60.0% YOY

Samsung Climate Control Co. Ltd. said its third-quarter normalized net income came to 148.60 South Korean won per share, a gain of 59.7% from 93.02 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 1.19 billion won, a gain of 60.0% from 744.8 million won in the year-earlier period.

The normalized profit margin rose to 5.8% from 3.3% in the year-earlier period.

Total revenue fell 10.1% year over year to 20.40 billion won from 22.70 billion won, and total operating expenses declined 10.9% year over year to 20.15 billion won from 22.61 billion won.

Reported net income decreased 27.4% year over year to 1.50 billion won, or 187.05 won per share, from 2.07 billion won, or 258.01 won per share.

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