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Sajodongaone swings to loss in Q2

Sajodongaone Co. Ltd. said its second-quarter normalized net income amounted to a loss of 61.68 South Korean won per share, compared with 80.90 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 a loss of 3.95 billion won, compared with income of 4.92 billion won in the prior-year period.

The normalized profit margin fell to negative 2.8% from 3.7% in the year-earlier period.

Total revenue declined year over year to 128.04 billion won from 133.78 billion won, and total operating expenses increased on an annual basis to 133.85 billion won from 130.60 billion won.

Reported net income totaled a loss of 5.37 billion won, or a loss of 83.80 won per share, compared to income of 6.83 billion won, or 112.36 won per share, in the year-earlier period.

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