Satrec Initiative Co., Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 10, 2022 at 09:54 pm EST
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Satrec Initiative Co., Ltd. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was KRW 747.63 million compared to KRW 1,082.02 million a year ago. Net income was KRW 5,581.88 million compared to net loss of KRW 10,344.2 million a year ago. Basic earnings per share from continuing operations was KRW 620 compared to basic loss per share from continuing operations of KRW 1,277 a year ago. Diluted earnings per share from continuing operations was KRW 174 compared to diluted loss per share from continuing operations of KRW 1,277 a year ago. Basic earnings per share was KRW 620 compared to basic loss per share of KRW 1,277 a year ago. Diluted earnings per share was KRW 174.
For the nine months, sales was KRW 3,452.19 million compared to KRW 4,050.69 million a year ago. Net income was KRW 13,059.97 million compared to net loss of KRW 23,104.98 million a year ago. Basic earnings per share from continuing operations was KRW 1,452 compared to basic loss per share from continuing operations of KRW 2,853 a year ago. Diluted earnings per share from continuing operations was KRW 393 compared to diluted loss per share from continuing operations of KRW 2,853 a year ago. Basic earnings per share was KRW 1,452 compared to basic loss per share of KRW 2,853 a year ago. Diluted earnings per share was KRW 393.
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. 
