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Pacific Online Systems Q2 profit climbs 30.4% YOY

Pacific Online Systems Corp. said its second-quarter normalized net income amounted to 18 Philippine centavos per share, a gain of 27.9% from 14 centavos per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 77.5 million pesos, an increase of 30.4% from 59.4 million pesos in the prior-year period.

The normalized profit margin rose to 20.1% from 15.8% in the year-earlier period.

Total revenue climbed on an annual basis to 385.0 million pesos from 375.5 million pesos, and total operating expenses decreased 13.5% year over year to 255.3 million pesos from 295.1 million pesos.

Reported net income increased on an annual basis to 132.4 million pesos, or 31 centavos per share, from 62.1 million pesos, or 15 centavos per share.

As of Aug. 11, US$1 was equivalent to 46.19 Philippine pesos.