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YES24 swings to profit in Q2

YES24 Co. Ltd. said its normalized net income for the second quarter was 96.09 South Korean won per share, compared with a loss of 34.11 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 1.65 billion won, compared with a loss of 576.0 million won in the prior-year period.

The normalized profit margin rose to 2.0% from negative 0.8% in the year-earlier period.

Total revenue increased 5.8% on an annual basis to 77.35 billion won from 73.14 billion won, and total operating expenses totaled 74.70 billion won, compared with 74.26 billion won in the year-earlier period.

Reported net income came to 2.91 billion won, or 169.28 won per share, compared to a loss of 963.7 million won, or a loss of 57.07 won per share, in the year-earlier period.

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