Samsung Engineering Reports 3.9% Decline in Q3 Net Income

SEOUL — Samsung Engineering Co. announced on Monday that its third-quarter net income fell by 3.9% year-on-year to 155.9 billion won (US$115 million).

According to Yonhap News Agency, the company's operating profit for the July-September period also declined by 4.4% to 153.4 billion won. However, sales showed a marginal increase of 0.8%, totaling 2.47 trillion won for the quarter. The results did not meet market expectations, as the average net profit estimate by analysts stood at 162.4 billion won, according to a survey by Yonhap Infomax, the financial data arm of Yonhap News Agency.

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