Satrec Initiative Co., Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 12:23 am EDT
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Satrec Initiative Co., Ltd. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was KRW 801.38 million compared to KRW 1,092.51 million a year ago. Net income was KRW 18,317.23 million compared to KRW 5,808.27 million a year ago. Basic earnings per share from continuing operations was KRW 2,016 compared to KRW 648 a year ago. Diluted earnings per share from continuing operations was KRW 1,868 compared to KRW 32 a year ago. Basic earnings per share was KRW 2,016 compared to KRW 648 a year ago. Diluted earnings per share was KRW 1,868 compared to KRW 32 a year ago.
For the six months, sales was KRW 1,206.34 million compared to KRW 2,704.56 million a year ago. Net income was KRW 3,649.33 million compared to KRW 7,478.09 million a year ago. Basic earnings per share from continuing operations was KRW 402 compared to KRW 834 a year ago. Diluted earnings per share from continuing operations was KRW 242 compared to KRW 218 a year ago. Basic earnings per share was KRW 402 compared to KRW 834 a year ago. Diluted earnings per share was KRW 242 compared to KRW 218 a year ago.
Satrec Initiative Co., Ltd. is a Korea-based company engaged in the provision of satellite systems. The Company operates its business through four divisions: satellite, earth, derivative and other. Its satellite division provides satellite systems, including 300 kilogram (KG) and 200 KG class earth observation small satellite systems, 100 KG class low earth orbit micro-satellite systems, as well as electronic optical cameras, among others. Its earth division provides satellite image signal processing devices and software. Its derivative division provides radioactive ray source and amount monitoring systems. Its other division provides memories used in aerospace industry. On April 1, 2014, it divested its image business into a new wholly owned subsidiary, namely SI Imaging Services Co., Ltd.
SATREC INITIATIVE CO., LTD. 
