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Unidus swings to loss in Q3

Unidus Corp. said its normalized net income for the third quarter amounted to a loss of 18.82 South Korean won per share, compared with 26.25 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 161.8 million won, compared with income of 230.5 million won in the year-earlier period.

The normalized profit margin dropped to negative 4.5% from 4.6% in the year-earlier period.

Total revenue declined 28.9% on an annual basis to 3.59 billion won from 5.06 billion won, and total operating expenses declined 22.0% from the prior-year period to 4.01 billion won from 5.15 billion won.

Reported net income came to a loss of 223.8 million won, or a loss of 26.02 won per share, compared to income of 368.8 million won, or 42.00 won per share, in the year-earlier period.

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