KAI-Q1 earnings
Korea Aerospace Industries Q1 net income up 41.4 pct to 41.3 bln won
SEOUL, May 7 (Yonhap) -- Korea Aerospace Industries (KAI) on Thursday reported its first-quarter net profit of 41.3 billion won (US$28.4 million), up a strong 41.4 percent from a year earlier.
The aerospace and defense manufacturer, which produces such fighter jets as the FA-50 and KF-21, said in a regulatory filing that it posted 67.1 billion won in operating profit for the quarter, compared with 46.8 billion won a year ago. Revenue moved up 56.3 percent to 1.09 trillion won.
The operating profit was 15.5 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.
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