SEOUL - LIG Nex1 Co. reported a steep 55.1 percent decline in its third-quarter net profit compared to the same period last year.
According to a new release by the Yonhap News Agency, the net profit for the quarter was 33.9 billion won (US$24.9 million).
The company's operating profit for the July-September period stood at 41.1 billion won, a decline of 29.6 percent year-on-year. Additionally, revenue fell by 22.9 percent to 536 billion won. The operating profit was lower than expected, standing at 13.2 percent below the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate for net profit was not available.