RFHIC second-quarter net income rises 43.7 percent on strong communications demand

RFHIC said Monday its second-quarter net income rose 43.7 percent from a year earlier, driven by strengthening demand in the global wireless communications market. The company attributed the gain to the industry's entry into a network advancement phase marked by the adoption of 5G standalone architecture and 5G-Advanced technologies.

Operating profit climbed 34.7 percent to 11.2 billion won ($7.82 million), while revenue increased 15.4 percent to 51.5 billion won ($36 million).

The manufacturer develops and produces gallium nitride transistors and power amplifiers for wireless communication, defense and radio-frequency energy applications. Its products are used in radar systems, guided weapons and electronic warfare equipment, as well as semiconductor processing and hydrogen production machinery.

For the first half of the year, cumulative net income reached 20.7 billion won ($14.5 million) on revenue of 94.6 billion won ($66.1 million), with operating profit totaling 18.9 billion won ($13.2 million).

Net income attributable to owners of the parent company rose 24.2 percent to 8.8 billion won ($6.15 million) in the quarter, while profit from continuing operations before tax jumped 52.3 percent to 14.7 billion won ($10.3 million).