Hanmi Pharm Q3 net income down 69.1% to $10.6 mil.
By Yonhap
Hanmi Pharm headquarters in Songpa District, Seoul / Courtesy of Hanmi Pharm
Hanmi Pharm on Tuesday reported a third-quarter net income of 14 billion won ($10.6 million), down 69.1 percent from a year earlier.
The Korean pharmaceutical company said in a regulatory filing that operating profit for the July-September period fell 31.3 percent on-year to 37.8 billion won. Revenue increased 4.2 percent to 377.4 billion won.
The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 26.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.