Korea Aerospace Industries, Ltd. (047810.KS), Wednesday announced third-quarter financial results, posting a decline in net profit primarily due to the delayed deliveries of a military contract.
The company's net income amounted to 39 billion won compared to 67.9 billion won in the previous year.
Operating profit went down to 60.2 billion won in the quarter from 76.3 billion won in the prior year.
For the period, sales declined 22.6 percent, to 702.1 billion won from last year's 907.2 billion won.
Korea Aerospace's stock closed at KRW 100,000, down 7.49 percent on the Korea Stock Exchange.
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