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Taihan Textile Q3 loss narrows YOY

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Taihan Textile Q3 loss narrows YOY

Taihan Textile Co. Ltd. said its normalized net income for the third quarter amounted to a loss of 329.22 South Korean won per share, compared with a loss of 697.99 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 1.74 billion won, compared with a loss of 3.70 billion won in the prior-year period.

The normalized profit margin increased to negative 2.9% from negative 5.7% in the year-earlier period.

Total revenue decreased 5.9% on an annual basis to 61.10 billion won from 64.91 billion won, and total operating expenses decreased 14.9% from the prior-year period to 58.69 billion won from 69.00 billion won.

Reported net income totaled a loss of 2.76 billion won, or a loss of 520.01 won per share, compared to a loss of 4.94 billion won, or a loss of 932.80 won per share, in the year-earlier period.

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