Hanwha Systems, 2Q Operating Profit 18.23 Billion KRW... 22% Decrease YoY (Comprehensive)
[Asia Economy Reporter Park So-yeon] reported on the 10th that {$_CompanyName recorded an operating profit of 18.227 billion KRW in the second quarter, a 22% decrease compared to the same period last year. Sales decreased by 18% to 323 billion KRW, and net profit fell by 53% to 13 billion KRW.
Although sales and operating profit in the second quarter decreased compared to the same period last year, they increased by 14.5% and 66.7%, respectively, compared to the previous quarter.
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Hanwha Systems explained, "The third mass production of TICN (Tactical Information Communication Network), a large-scale mass production project delivery, was scheduled for the fourth quarter this year, causing a concentration of sales and profit. The sales from the third mass production of TICN planned for the fourth quarter are estimated to be around 120 billion KRW."
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