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SEWON Precision Industry fiscal Q3 profit falls YOY

SEWON Precision Industry Co. Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to 695.00 South Korean won per share, a decrease of 33.1% from 1,039.49 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 6.95 billion won, a decrease of 33.1% from 10.39 billion won in the prior-year period.

The normalized profit margin declined to 7.3% from 10.8% in the year-earlier period.

Total revenue fell on an annual basis to 94.79 billion won from 96.24 billion won, and total operating expenses rose year over year to 77.97 billion won from 74.41 billion won.

Reported net income decreased 29.0% on an annual basis to 11.39 billion won, or 1,138.52 won per share, from 16.03 billion won, or 1,603.00 won per share.

As of June 1, US$1 was equivalent to 1,115.34 South Korean won.