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Seoyeon swings to profit in Q3

Seoyeon Co. Ltd. said its third-quarter normalized net income was 161.04 South Korean won per share, compared with a loss of 720.77 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 3.34 billion won, compared with a loss of 6.50 billion won in the prior-year period.

The normalized profit margin increased to 0.5% from negative 2.4% in the year-earlier period.

Total revenue grew on an annual basis to 692.47 billion won from 276.08 billion won, and total operating expenses rose year over year to 672.78 billion won from 264.91 billion won.

Reported net income totaled 3.21 billion won, or 154.56 won per share, compared to a loss of 3.19 billion won, or a loss of 354.07 won per share, in the year-earlier period.

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