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Maniker swings to profit in Q2

Maniker Co. Ltd. said its normalized net income for the second quarter was 1.71 South Korean won per share, compared with a loss of 65.97 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 120.0 million won, compared with a loss of 4.56 billion won in the year-earlier period.

The normalized profit margin climbed to 0.2% from negative 5.1% in the year-earlier period.

Total revenue fell 21.2% year over year to 70.62 billion won from 89.65 billion won, and total operating expenses declined 27.1% from the prior-year period to 69.35 billion won from 95.12 billion won.

Reported net income totaled 162.2 million won, or 2.31 won per share, compared to a loss of 6.25 billion won, or a loss of 90.33 won per share, in the prior-year period.

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