Youngwire Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 14, 2023 at 11:43 am IST
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Youngwire Co., Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was KRW 1,013.7 million compared to KRW 2,144.95 million a year ago. Net loss was KRW 750.46 million compared to net income of KRW 784.36 million a year ago. Basic loss per share from continuing operations was KRW 12 compared to basic earnings per share from continuing operations of KRW 12 a year ago. Diluted loss per share from continuing operations was KRW 16 compared to diluted earnings per share from continuing operations of KRW 12 a year ago. Basic loss per share was KRW 12 compared to basic earnings per share of KRW 12 a year ago. Diluted loss per share was KRW 16 compared to diluted earnings per share of KRW 13 a year ago.
For the nine months, sales was KRW 4,358.39 million compared to KRW 5,476.17 million a year ago. Net loss was KRW 4,226.45 million compared to net income of KRW 4,278.24 million a year ago. Basic loss per share from continuing operations was KRW 66 compared to basic earnings per share from continuing operations of KRW 66 a year ago. Diluted loss per share from continuing operations was KRW 66 compared to diluted earnings per share from continuing operations of KRW 53 a year ago. Basic loss per share was KRW 66 compared to basic earnings per share of KRW 66 a year ago. Diluted loss per share was KRW 48 compared to diluted earnings per share of KRW 53 a year ago.
YoungWire Co Ltd, formerly Young Heung Iron & Steel Co Ltd, is a Korea-based company engaged in the manufacturing of steel products. The Companyâs products consist of wire ropes, such as cross laid wire ropes, parallel laid wire ropes, non-rotating ropes, compacted wire ropes, swaged wire ropes, elevator wire ropes and others; wires, cables, low relaxation (LR) strands, prestressed concrete (PC) steel strands and cold drawn steel bars. In addition, the Company also produces automobile parts, such as coil springs and leaf springs. It also engages in the logistics business such as unloading, road freight, and transportation, as well as eco-friendly antirust packaging materials business. The Company distributes its products within domestic market and to overseas markets.