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Dong Won Fisheries Q3 loss widens 26.4% YOY

Dong Won Fisheries Co. Ltd. said its third-quarter normalized net income came to a loss of 190.62 South Korean won per share, compared with a loss of 149.21 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 a loss of 773.8 million won, compared with a loss of 612.4 million won in the year-earlier period.

The normalized profit margin dropped to negative 2.4% from negative 2.0% in the year-earlier period.

Total revenue climbed 5.2% year over year to 32.72 billion won from 31.09 billion won, and total operating expenses decreased 6.9% on an annual basis to 32.01 billion won from 34.37 billion won.

Reported net income totaled a loss of 1.06 billion won, or a loss of 261.61 won per share, compared to a loss of 1.21 billion won, or a loss of 296.00 won per share, in the prior-year period.

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