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Welcron swings to profit in Q2

Welcron Co. Ltd. said its normalized net income for the second quarter came to 39.86 South Korean won per share, compared with a loss of 10.10 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 986.1 million won, compared with a loss of 230.8 million won in the prior-year period.

The normalized profit margin rose to 2.8% from negative 0.4% in the year-earlier period.

Total revenue increased year over year to 60.22 billion won from 57.70 billion won, and total operating expenses totaled 58.71 billion won, compared with 59.01 billion won in the prior-year period.

Reported net income came to 846.2 million won, or 34.21 won per share, compared to a loss of 838.8 million won, or a loss of 36.71 won per share, in the year-earlier period.

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