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Forcs fiscal Q2 profit climbs 40.1% YOY

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Forcs fiscal Q2 profit climbs 40.1% YOY

FORCS Co.Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 222.44 South Korean won per share, an increase of 21.5% from 183.04 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 1.54 billion won, a gain of 40.1% from 1.10 billion won in the year-earlier period.

The normalized profit margin rose to 31.1% from 28.4% in the year-earlier period.

Total revenue increased 28.2% year over year to 4.97 billion won from 3.88 billion won, and total operating expenses climbed 14.8% year over year to 2.67 billion won from 2.32 billion won.

Reported net income declined on an annual basis to 2.29 billion won, or 329.94 won per share, from 2.37 billion won, or 392.99 won per share.

As of Feb. 15, US$1 was equivalent to 1,212.28 South Korean won.