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Samsung Climate Control Q2 profit climbs YOY

Samsung Climate Control Co. Ltd. said its normalized net income for the second quarter was 199.12 South Korean won per share, an increase from 59.63 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 1.60 billion won, a gain from 488.5 million won in the year-earlier period.

The normalized profit margin increased to 6.3% from 1.9% in the year-earlier period.

Total revenue fell year over year to 25.38 billion won from 25.68 billion won, and total operating expenses declined 9.6% from the prior-year period to 23.74 billion won from 26.25 billion won.

Reported net income grew on an annual basis to 2.27 billion won, or 283.02 won per share, from 173.5 million won, or 21.18 won per share.

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