Hyundai Wia Q2 net income down 99.3 pct to 1.4 bln won

Hyundai Wia-Q2 earnings

Hyundai Wia Q2 net income down 99.3 pct to 1.4 bln won

SEOUL, July 27 (Yonhap) -- Hyundai Wia on Thursday reported its second-quarter net income of 1.4 billion won (US$1.1 million), down 99.3 percent from a year earlier.

The company said in a regulatory filing that it posted 65.2 billion won in operating profit for the quarter, compared with 53.1 billion won a year ago. Revenue rose 15.9 percent to 2.28 trillion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 43.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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