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NSN Co. Q2 loss narrows YOY

NSN Co. Ltd. said its second-quarter normalized net income came to a loss of 29.86 South Korean won per share, compared with a loss of 36.37 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 a loss of 399.2 million won, compared with a loss of 484.3 million won in the year-earlier period.

The normalized profit margin fell to negative 11.8% from negative 11.4% in the year-earlier period.

Total revenue increased 27.4% on an annual basis to 5.40 billion won from 4.24 billion won, and total operating expenses climbed 31.3% from the prior-year period to 5.19 billion won from 3.95 billion won.

Reported net income totaled a loss of 742.9 million won, or a loss of 55.57 won per share, compared to a loss of 162.1 million won, or a loss of 12.17 won per share, in the year-earlier period.

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