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GNCO Q3 loss widens YOY

GNCO Co. Ltd. said its normalized net income for the third quarter came to a loss of 16.81 South Korean won per share, compared with a loss of 3.17 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 a loss of 838.8 million won, compared with a loss of 145.0 million won in the prior-year period.

The normalized profit margin dropped to negative 3.2% from negative 0.5% in the year-earlier period.

Total revenue decreased 7.6% on an annual basis to 26.49 billion won from 28.66 billion won, and total operating expenses rose on an annual basis to 28.17 billion won from 27.74 billion won.

Reported net income totaled a loss of 1.50 billion won, or a loss of 30.04 won per share, compared to a loss of 411.3 million won, or a loss of 9.00 won per share, in the prior-year period.

As of Nov. 17, US$1 was equivalent to 1,170.30 South Korean won.