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Vitzrosys. swings to profit in fiscal Q3

Vitzrosys. Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to 9.75 South Korean won per share, compared with a loss of 1.23 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 392.6 million won, compared with a loss of 17.3 million won in the prior-year period.

The normalized profit margin climbed to 2.1% from negative 0.1% in the year-earlier period.

Total revenue fell 18.7% year over year to 18.85 billion won from 23.20 billion won, and total operating expenses decreased 23.3% year over year to 17.91 billion won from 23.34 billion won.

Reported net income came to 486.1 million won, or 12.07 won per share, compared to a loss of 140.0 million won, or a loss of 10.00 won per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to 1,207.85 South Korean won.