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KB Autosys Q2 profit climbs 85.5% YOY

KB Autosys Co. Ltd. said its normalized net income for the second quarter came to 92.08 South Korean won per share, an increase of 84.8% from 49.83 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 1.06 billion won, a gain of 85.5% from 570.8 million won in the year-earlier period.

The normalized profit margin climbed to 3.5% from 2.0% in the year-earlier period.

Total revenue grew year over year to 30.66 billion won from 29.26 billion won, and total operating expenses grew year over year to 28.75 billion won from 27.68 billion won.

Reported net income rose 87.7% on an annual basis to 1.23 billion won, or 107.11 won per share, from 656.4 million won, or 57.30 won per share.

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