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Sae Dong Q2 loss widens YOY

Sae Dong Co. Ltd. said its normalized net income for the second quarter amounted to a loss of 92.83 South Korean won per share, compared with a loss of 26.52 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 a loss of 1.25 billion won, compared with a loss of 361.0 million won in the year-earlier period.

The normalized profit margin declined to negative 3.9% from negative 1.1% in the year-earlier period.

Total revenue decreased 5.2% year over year to 32.17 billion won from 33.95 billion won, and total operating expenses fell year over year to 33.79 billion won from 34.16 billion won.

Reported net income came to a loss of 2.51 billion won, or a loss of 186.67 won per share, compared to a loss of 585.0 million won, or a loss of 42.98 won per share, in the prior-year period.

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