Cape Industries Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 14, 2022 at 12:33 am EST
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Cape Industries Ltd. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was KRW 449.15 million compared to KRW 526.21 million a year ago. Net loss was KRW 5,274 million compared to net income of KRW 3,574.15 million a year ago. Basic loss per share from continuing operations was KRW 171 compared to basic earnings per share from continuing operations of KRW 116 a year ago. Diluted loss per share from continuing operations was KRW 171 compared to diluted earnings per share from continuing operations of KRW 116 a year ago. Basic loss per share was KRW 171 compared to basic earnings per share of KRW 115 a year ago.
For the nine months, sales was KRW 1,742.04 million compared to KRW 1,417.27 million a year ago. Net loss was KRW 681.61 million compared to net income of KRW 41,905.46 million a year ago. Basic loss per share from continuing operations was KRW 22 compared to basic earnings per share from continuing operations of KRW 1,357 a year ago. Diluted loss per share from continuing operations was KRW 22 compared to diluted earnings per share from continuing operations of KRW 1,357 a year ago. Basic loss per share was KRW 22 compared to basic earnings per share of KRW 1,357 a year ago.
CAPE INDUSTRIES LTD., formerly SOCIAL MEDIA NINETY NINE LTD., is a Korea-based company engaged in the manufacture of cylinder liners. The Company produces cylinder liners, such as new shipping cylinder liners and replacement cylinder liners for large vessel main engines. The Companyâs products include MAN B&W type and SULZER type cylinder liners. The Company distributes its products to engine manufacturers and shipbuilders in domestic and overseas markets. The Companyâs main customers include Doosan Engine, China Engine Builder, Wartsila and STX. In addition, the Company is involved in the online game development and warehouse rental businesses. On August 8, 2014, the Companyâs stake in the Changhae Ethanol Co., Ltd decreased to 0%.