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SG Corp. Q2 loss narrows YOY

SG Corp. said its second-quarter normalized net income amounted to a loss of 13.62 South Korean won per share, compared with a loss of 19.19 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 2.76 billion won, compared with a loss of 3.29 billion won in the year-earlier period.

The normalized profit margin increased to negative 4.4% from negative 4.4% in the year-earlier period.

Total revenue decreased 15.9% year over year to 63.21 billion won from 75.13 billion won, and total operating expenses decreased 15.5% year over year to 67.71 billion won from 80.17 billion won.

Reported net income came to a loss of 3.20 billion won, or a loss of 15.79 won per share, compared to a loss of 4.25 billion won, or a loss of 24.80 won per share, in the year-earlier period.

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