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Huvis Q3 profit falls YOY

Huvis Corp. said its normalized net income for the third quarter was 111.00 South Korean won per share, a decrease of 44.5% from 200.10 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 3.65 billion won, a decrease of 44.6% from 6.59 billion won in the year-earlier period.

The normalized profit margin dropped to 1.3% from 1.9% in the year-earlier period.

Total revenue declined 11.3% on an annual basis to 305.89 billion won from 344.88 billion won, and total operating expenses decreased 11.1% on an annual basis to 295.03 billion won from 331.93 billion won.

Reported net income declined 65.7% on an annual basis to 3.03 billion won, or 91.97 won per share, from 8.82 billion won, or 268.00 won per share.

As of Nov. 12, US$1 was equivalent to 1,159.89 South Korean won.