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Hantop Q2 profit falls YOY

Hantop Inc. said its normalized net income for the second quarter was 3.36 South Korean won per share, a decrease of 96.9% from 106.84 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 65.5 million won, a decrease of 96.9% from 2.12 billion won in the prior-year period.

The normalized profit margin dropped to 0.1% from 7.9% in the year-earlier period.

Total revenue rose 15.2% on an annual basis to 30.90 billion won from 26.83 billion won, and total operating expenses rose 9.8% on an annual basis to 29.93 billion won from 27.25 billion won.

Reported net income totaled a loss of 21.4 million won, or a loss of 1.10 won per share, compared to income of 2.93 billion won, or 147.18 won per share, in the year-earlier period.

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