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Samsung SDI profit beats consensus by 19.9% in Q2

Samsung SDI Co. Ltd. said its normalized net income for the second quarter was 2,348.25 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,959.12 won per share.

The per-share result swung to a profit from the prior-year loss of 236.47 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 153.65 billion won, compared with a loss of 16.61 billion won in the prior-year period.

The normalized profit margin climbed to 10.6% from negative 1.3% in the year-earlier period.

Total revenue climbed 10.4% year over year to 1.454 trillion won from 1.317 trillion won, and total operating expenses climbed 5.6% from the prior-year period to 1.449 trillion won from 1.371 trillion won.

Reported net income totaled 188.93 billion won, or 2,887.44 won per share, compared with a loss of 41.70 billion won, or a loss of 593.79 won per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to 1,139.03 South Korean won.