LVMC Holdings Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018
September 18, 2018 at 05:49 am
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LVMC Holdings announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported sales of $60,612,861 as compared to $70,137,971 for the same period last year. Operating loss was $10,522,739 as compared to profit of $8,722,617 for the same period last year. Loss before income tax expense was $12,469,394 as compared to profit of $3,835,436 for the same period last year. Loss attributable to owners of the company was $10,912,258 as compared to profit of $3,913,920 for the same period last year. Basic and diluted loss per share was $0.23 as compared to basic and diluted earnings per share of $0.08 for the same period last year.
For the six months, the company reported sales of $129,036,651 as compared to $147,365,956 for the same period last year. Operating loss was $5,354,121 as compared to profit of $23,693,418 for the same period last year. Loss before income tax expense was $11,576,755 as compared to profit of $13,673,273 for the same period last year. Loss attributable to owners of the company was $9,613,556 as compared to profit of $13,980,151 for the same period last year. Basic and diluted loss per share was $0.20 as compared to basic and diluted earnings per share of $0.30 for the same period last year. Net cash provided by operating activities was $12,824,946 as compared to $4,482,758 for the same period last year. Acquisition of property, plant and equipment was $8,630,649 as compared to $1,528,276 for the same period last year. Acquisition of intangible assets was $916,024 as compared to $793,858 for the same period last year.
LVMC Holdings Co,.Ltd is a Cayman Islands-based automotive company. The Company is a manufacturer and distributor of automobiles and motorcycles. It is engaged in the business areas, such as Distribution, Manufacturer & Assembly, Parts & A/S, and Others. The Distribution business is engaged in the sale of commercial trucks and heavy equipment. The Manufacturer & Assembly business is engaged in the manufacturing, sales, and overseas exports of its in-house brand DAEHAN. DAEHAN built a diverse lineup of products, including 1t trucks, 1.5t trucks, 2t trucks and pick-up trucks. Its TERACO brand delivers a product lineup of trucks. Its KR Motors brand is engaged in the technological development, manufacturing, and sales of motorcycles. Its Parts & A/S business is engaged in the sale of parts and accessories for automobiles and motorcycles and offers after-sales maintenance services. Its Others business is engaged in providing rental services. It has about 60 distributors worldwide.