Samick Musical Instruments Co. Ltd. said its normalized net income for the second quarter amounted to 31.61 South Korean won per share, compared with a loss of 9.15 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 2.78 billion won, compared with a loss of 785.9 million won in the year-earlier period.
The normalized profit margin climbed to 6.7% from negative 2.3% in the year-earlier period.
Total revenue rose 17.4% year over year to 40.29 billion won from 34.31 billion won, and total operating expenses grew 34.7% on an annual basis to 35.89 billion won from 26.65 billion won.
Reported net income came to 1.41 billion won, or 16.00 won per share, compared to a loss of 1.30 billion won, or a loss of 15.16 won per share, in the prior-year period.
As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.