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Viettronics Tan Binh Q2 profit falls YOY

Viettronics Tan Binh JSC said its normalized net income for the second quarter was 1.28 billion dong, a fall of 49.2% from 2.53 billion dong in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin fell to 2.5% from 4.8% in the year-earlier period.

Total revenue fell year over year to 51.31 billion dong from 52.14 billion dong, and total operating expenses totaled 50.56 billion dong, compared with 50.40 billion dong in the prior-year period.

Reported net income totaled 1.56 billion dong, compared with 2.89 billion dong, or 267.27 dong per share, in the year-earlier period.

As of July 24, US$1 was equivalent to 21,825 dong.