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Samsung SDI Q2 loss narrows YOY

Samsung SDI Co. Ltd. said its second-quarter normalized net income amounted to a loss of 241.65 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 10,926.08 won per share.

The per-share loss narrowed 93.7% year over year from 3,817.20 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 16.61 billion won, compared with a loss of 268.17 billion won in the prior-year period.

The normalized profit margin climbed to negative 1.3% from negative 22.8% in the year-earlier period.

Total revenue rose 12.0% year over year to 1.317 trillion won from 1.177 trillion won, and total operating expenses grew 11.0% on an annual basis to 1.371 trillion won from 1.235 trillion won.

Reported net income came to a loss of 62.36 billion won, or a loss of 907.31 won per share, compared with a loss of 353.81 billion won, or a loss of 5,036.24 won per share, in the year-earlier period.

As of Aug. 16, US$1 was equivalent to 1,094.67 South Korean won.