SEOUL-- Hyosung Advanced Materials Corp. on Wednesday reported its second-quarter net profit of 57.9 billion won (US$44.1 million), down 42.5 percent from a year earlier.

The company said in a regulatory filing that it posted 97.6 billion won in operating profit for the quarter, compared with 117.8 billion won a year ago. Sales rose 17.5 percent to 1.02 trillion won.

The operating profit was in line with the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

Source: Yonhap News Agency