DB HiTek’s Q2 OP down by 24.1 percent

DB HiTek CI

DB HiTek announced on Thursday that its consolidated operating profit for the second quarter of 2024 was provisionally estimated at 68.3 billion won ($50 million), down 24.1 percent from a year ago. Revenue for the quarter totaled 298.9 billion won, down 3.2 percent on-year.

The company saw a significant improvement compared to the previous quarter, however, with operating profit rising by 66.3 percent and revenue increasing by 14.3 percent. It attributed this improvement to increased semiconductor sales for sectors such as automotive, industrial, and medical devices.

DB HiTek said it plans to prepare for the future by expanding the proportion of high-growth, high-value-added products such as high-power semiconductors and specialized image sensors. It will also simultaneously pursue aggressive cost-cutting measures to maximize profits.