THE KOREA ECONOMIC DAILY, GLOBAL EDITION

Operating profits at South Korea’s diagnostic reagent maker Seegen Inc. spiked by more than 36 times in the second quarter from a year earlier, far surpassing market consensus, on surging exports of coronavirus test kits.

On August 13, the KOSDAQ-listed company reported 168.9 billion won ($143 million) in operating profits for the April-June quarter, compared with the 4.6 billion won it posted in the same period a year earlier.

Sales jumped by almost 10-fold to 274.8 billion won, versus 29.2 billion won during the same period.

The quarterly results beat market estimates of 156.2 billion won in operating profit and 256.6 billion won in sales, according to financial data services firm FnGuide.