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SEWON Precision Industry fiscal Q2 profit climbs YOY

SEWON Precision Industry Co. Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 991.72 South Korean won per share, compared with 984.11 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 9.92 billion won, compared with 9.85 billion won in the year-earlier period.

The normalized profit margin dropped to 9.4% from 10.0% in the year-earlier period.

Total revenue climbed 7.7% year over year to 105.93 billion won from 98.38 billion won, and total operating expenses increased 8.8% year over year to 86.39 billion won from 79.40 billion won.

Reported net income grew 14.0% year over year to 14.83 billion won, or 1,483.42 won per share, from 13.01 billion won, or 1,299.84 won per share.

As of March 2, US$1 was equivalent to 1,102.78 South Korean won.