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Dongkook Industrial Q2 profit falls YOY

Dongkook Industrial Co. Ltd. said its normalized net income for the second quarter came to 51.19 South Korean won per share, a decrease of 25.2% from 68.41 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 1.37 billion won, a decrease of 29.6% from 1.95 billion won in the year-earlier period.

The normalized profit margin declined to 0.9% from 1.1% in the year-earlier period.

Total revenue fell 16.2% on an annual basis to 145.30 billion won from 173.34 billion won, and total operating expenses fell 16.3% year over year to 143.01 billion won from 170.88 billion won.

Reported net income totaled a loss of 563.5 million won, or a loss of 21.40 won per share, compared to income of 2.57 billion won, or 90.48 won per share, in the prior-year period.

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