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DAE-IL Corp. swings to profit in Q3

DAE-IL Corp. said its normalized net income for the third quarter was 190.96 South Korean won per share, compared with a loss of 13.62 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 4.09 billion won, compared with a loss of 296.4 million won in the year-earlier period.

The normalized profit margin rose to 3.3% from negative 0.3% in the year-earlier period.

Total revenue increased year over year to 122.66 billion won from 117.13 billion won, and total operating expenses grew on an annual basis to 116.26 billion won from 114.80 billion won.

Reported net income came to 5.01 billion won, or 234.09 won per share, compared to a loss of 304.7 million won, or a loss of 14.00 won per share, in the prior-year period.

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