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Cosmax BTI Q3 profit falls YOY

Cosmax BTI Inc. said its third-quarter normalized net income was 218.81 South Korean won per share, a decline of 75.9% from 908.90 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 2.09 billion won, a decrease of 66.9% from 6.31 billion won in the year-earlier period.

The normalized profit margin declined to 4.2% from 15.2% in the year-earlier period.

Total revenue rose 21.9% on an annual basis to 50.49 billion won from 41.44 billion won, and total operating expenses rose 20.9% on an annual basis to 45.87 billion won from 37.96 billion won.

Reported net income declined 67.2% from the prior-year period to 2.74 billion won, or 287.10 won per share, from 8.37 billion won, or 1,205.00 won per share.

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