Samjin Co. Ltd. said its normalized net income for the second quarter amounted to 146.31 South Korean won per share, an increase from 49.54 won per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 877.9 million won, a gain from 296.9 million won in the prior-year period.
The normalized profit margin increased to 3.3% from 0.8% in the year-earlier period.
Total revenue fell 30.4% year over year to 26.64 billion won from 38.29 billion won, and total operating expenses fell 29.4% from the prior-year period to 25.86 billion won from 36.61 billion won.
Reported net income increased 19.9% year over year to 948.9 million won, or 158.15 won per share, from 791.2 million won, or 132.00 won per share.
As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.