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Cuckoo Holdings Q3 profit falls YOY

Cuckoo Holdings Co. Ltd said its third-quarter normalized net income was 1,494.69 South Korean won per share, a decrease of 65.8% from 4,370.53 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 12.25 billion won, a decrease of 65.6% from 35.67 billion won in the year-earlier period.

The normalized profit margin fell to 7.5% from 24.7% in the year-earlier period.

Total revenue climbed 13.7% year over year to 163.93 billion won from 144.18 billion won, and total operating expenses increased 14.1% from the prior-year period to 145.06 billion won from 127.14 billion won.

Reported net income decreased 72.6% from the prior-year period to 9.84 billion won, or 1,200.36 won per share, from 35.95 billion won, or 4,405.00 won per share.

As of Nov. 25, US$1 was equivalent to 1,144.97 South Korean won.