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Automobile & PCB Q3 profit falls YOY

Automobile & PCB Inc. said its normalized net income for the third quarter amounted to 14.40 South Korean won per share, a decrease of 62.6% from 38.52 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 603.3 million won, a decline of 62.7% from 1.62 billion won in the prior-year period.

The normalized profit margin dropped to 0.5% from 1.4% in the year-earlier period.

Total revenue rose 10.9% on an annual basis to 129.88 billion won from 117.13 billion won, and total operating expenses climbed 16.1% from the prior-year period to 129.41 billion won from 111.47 billion won.

Reported net income came to a loss of 916.9 million won, or a loss of 21.88 won per share, compared to income of 1.09 billion won, or 26.00 won per share, in the prior-year period.

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