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Alton Sports Q2 profit falls YOY

Alton Sports Co. Ltd. said its normalized net income for the second quarter amounted to 16.01 South Korean won per share, a decrease of 94.9% from 311.05 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 182.6 million won, a decline of 94.8% from 3.51 billion won in the prior-year period.

The normalized profit margin dropped to 0.8% from 13.0% in the year-earlier period.

Total revenue decreased 17.1% year over year to 22.43 billion won from 27.07 billion won, and total operating expenses decreased from the prior-year period to 21.67 billion won from 22.02 billion won.

Reported net income declined 91.6% from the prior-year period to 356.8 million won, or 31.29 won per share, from 4.26 billion won, or 378.35 won per share.

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