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Shinyoung Wacoal Q2 profit climbs YOY

ShinyoungwacoalInc. said its normalized net income for the second quarter came to 2,220.38 South Korean won per share, a gain from 469.32 won per share in the second quarter ended March 31, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.00 billion won, an increase from 422.4 million won in the second quarter ended March 31, 2014.

The normalized profit margin rose to 4.4% from 1.0% in the year-earlier period.

Total revenue climbed 6.6% year over year to 45.17 billion won from 42.37 billion won, and total operating expenses came to 42.84 billion won, compared with 43.11 billion won in the prior-year period.

Reported net income came to 4.79 billion won, or 5,318.38 won per share, compared to a loss of 666.7 million won, or a loss of 740.66 won per share, in the second quarter ended March 31, 2014.

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