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THINKWARE Q2 profit climbs 32.4% YOY

THINKWARE Corp. said its normalized net income for the second quarter was 224.40 South Korean won per share, an increase of 11.7% from 200.85 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.71 billion won, a gain of 32.4% from 1.29 billion won in the year-earlier period.

The normalized profit margin rose to 4.6% from 3.0% in the year-earlier period.

Total revenue declined 12.5% year over year to 37.58 billion won from 42.95 billion won, and total operating expenses decreased 17.4% from the prior-year period to 34.30 billion won from 41.54 billion won.

Reported net income increased on an annual basis to 2.23 billion won, or 292.00 won per share, from 598.7 million won, or 93.11 won per share.

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