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Duckyang Industry Q2 profit falls YOY

Duckyang Industry Co. Ltd. said its normalized net income for the second quarter amounted to 10.20 South Korean won per share, a decrease of 83.4% from 61.30 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 329.9 million won, a decrease of 83.4% from 1.99 billion won in the prior-year period.

The normalized profit margin dropped to 0.1% from 0.9% in the year-earlier period.

Total revenue climbed 6.8% year over year to 232.37 billion won from 217.53 billion won, and total operating expenses rose 6.5% year over year to 231.05 billion won from 216.97 billion won.

Reported net income decreased 66.7% from the prior-year period to 637.4 million won, or 19.70 won per share, from 1.92 billion won, or 59.00 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.