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Silla Textile Q3 loss widens YOY

Silla Textile Co. Ltd. said its third-quarter normalized net income amounted to a loss of 24.44 South Korean won per share, compared with a loss of 5.05 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 a loss of 593.2 million won, compared with a loss of 122.6 million won in the prior-year period.

The normalized profit margin declined to negative 60.7% from negative 14.3% in the year-earlier period.

Total revenue climbed 14.2% year over year to 976.6 million won from 855.1 million won, and total operating expenses grew 87.0% on an annual basis to 1.88 billion won from 1.00 billion won.

Reported net income totaled a loss of 949.2 million won, or a loss of 39.10 won per share, compared to a loss of 149.0 million won, or a loss of 6.14 won per share, in the prior-year period.

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