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Mando Q2 profit falls 22.8% YOY

Mando Corp. said its second-quarter normalized net income was 3,731.11 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 4,297.00 won per share.

EPS rose 48.4% year over year from 2,513.96 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 34.94 billion won, a decrease of 22.8% from 45.25 billion won in the year-earlier period.

The normalized profit margin declined to 2.6% from 3.2% in the year-earlier period.

Total revenue fell 6.5% on an annual basis to 1.321 trillion won from 1.412 trillion won, and total operating expenses fell 5.0% on an annual basis to 1.255 trillion won from 1.321 trillion won.

Reported net income fell 20.4% year over year to 38.38 billion won, or 4,097.79 won per share, from 48.20 billion won, or 2,677.85 won per share.

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