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Xhyungji Elite fiscal Q2 profit falls YOY

Xhyungji Elite Co. Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 147.15 South Korean won per share, a decrease of 46.8% from 276.73 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 2.02 billion won, a decline of 35.5% from 3.13 billion won in the year-earlier period.

The normalized profit margin declined to 6.7% from 9.6% in the year-earlier period.

Total revenue declined 11.5% year over year to 28.86 billion won from 32.62 billion won, and total operating expenses fell 8.0% from the prior-year period to 25.58 billion won from 27.81 billion won.

Reported net income decreased 42.8% year over year to 2.51 billion won, or 183.24 won per share, from 4.40 billion won, or 388.97 won per share.

As of Feb. 17, US$1 was equivalent to 1,108.49 South Korean won.