HL Mando Co. on Friday reported its second-quarter net income of 11.9 billion won (US$8.6 million), down 76.8 percent from a year earlier.
The company said in a regulatory filing that it posted 89.6 billion won in operating profit for the quarter, compared with 77 billion won a year ago. Revenue rose 2.9 percent to 2.14 trillion won.
The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 46.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency