Satrec Initiative Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 14, 2021 at 10:35 pm EST
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Satrec Initiative Co., Ltd. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was KRW 1,082.02 million compared to KRW 1,009.86 million a year ago. Net loss was KRW 10,344.2 million compared to net income of KRW 2,888.91 million a year ago. Basic loss per share from continuing operations was KRW 1,277 compared to basic earnings per share from continuing operations of KRW 403 a year ago. Diluted loss per share from continuing operations was KRW 1,277 compared to diluted earnings per share from continuing operations of KRW 403 a year ago. Basic loss per share was KRW 1,277 compared to basic earnings per share of KRW 403 a year ago.
For the nine months, sales was KRW 4,050.69 million compared to KRW 3,252.77 million a year ago. Net loss was KRW 23,104.98 million compared to net income of KRW 7,983.54 million a year ago. Basic loss per share from continuing operations was KRW 2,853 compared to basic earnings per share from continuing operations of KRW 1,112 a year ago. Diluted loss per share from continuing operations was KRW 2,853 compared to diluted earnings per share from continuing operations of KRW 1,112 a year ago. Basic loss per share was KRW 2,853 compared to basic earnings per share of KRW 1,112 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. 
