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Chonbang Q3 loss widens YOY

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Chonbang Q3 loss widens YOY

Chonbang Co. Ltd. said its normalized net income for the third quarter came to a loss of 4,840.83 South Korean won per share, compared with a loss of 4,688.99 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 5.52 billion won, compared with a loss of 5.34 billion won in the year-earlier period.

The normalized profit margin declined to negative 9.5% from negative 9.1% in the year-earlier period.

Total revenue declined on an annual basis to 58.20 billion won from 58.95 billion won, and total operating expenses fell year over year to 60.73 billion won from 63.00 billion won.

Reported net income totaled a loss of 8.71 billion won, or a loss of 7,644.32 won per share, compared to a loss of 8.49 billion won, or a loss of 7,452.00 won per share, in the year-earlier period.

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