SEOUL: Poongsan Corp. reported its third-quarter net income as 20.5 billion won (US$15.2 million) on Tuesday, a 12.1 percent decrease from the same period a year ago.
According to Yonhap News Agency, the company's operating profit for the quarter was 31.9 billion won, up from 29.9 billion won a year ago. However, revenue for the quarter declined by 9.5 percent to 930.8 billion won. These earnings fell short of market expectations. The average estimate of net profit had been 27.2 billion won, as indicated by a survey conducted by Yonhap Infomax, the financial data subsidiary of Yonhap News Agency.