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Korea Kolmar profit misses consensus by 16.4% in Q2

Korea Kolmar Co. Ltd. said its normalized net income for the second quarter came to 504.30 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 603.00 won per share.

EPS increased 28.5% year over year from 392.57 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 11.04 billion won, a gain of 42.5% from 7.75 billion won in the year-earlier period.

The normalized profit margin climbed to 8.4% from 6.3% in the year-earlier period.

Total revenue grew 16.0% on an annual basis to 142.04 billion won from 122.47 billion won, and total operating expenses climbed 14.3% on an annual basis to 124.46 billion won from 108.88 billion won.

Reported net income increased 40.5% from the prior-year period to 13.55 billion won, or 619.00 won per share, from 9.64 billion won, or 488.70 won per share.

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