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Taihan Textile Q2 loss narrows YOY

Taihan Textile Co. Ltd. said its normalized net income for the second quarter came to a loss of 8.71 South Korean won per share, compared with a loss of 450.46 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 a loss of 46.1 million won, compared with a loss of 2.39 billion won in the prior-year period.

The normalized profit margin rose to negative 0.1% from negative 3.9% in the year-earlier period.

Total revenue grew 6.0% year over year to 65.52 billion won from 61.80 billion won, and total operating expenses totaled 63.71 billion won, compared with 64.07 billion won in the prior-year period.

Reported net income came to 270.4 million won, or 51.02 won per share, compared to a loss of 3.41 billion won, or a loss of 643.19 won per share, in the prior-year period.

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