Rayence Announces Preliminary Second Quarter 2022 Results (2Q)
- Achieving strong performance despite soaring raw material prices and supply turmoil
- Performance continues to rise due to increased demand for fluoroscopy detectors in the battery inspection equipment and specialized medical market
Rayence, a company specialized in digital X-ray Imaging solutions, announced its unaudited financial results for the second quarter of the fiscal year 2022.
Sales in the second quarter were 37.62 billion won, and operating profit was 7.78 billion won. Sales and operating profit increased by 2.6% and 10% YoY, recording the highest quarterly sales and operating profit figures. The operating profit margin was 20.6%. As a result, sales in the first half were 73.7 billion won, and operating profit was 13.91 billion won, up 8.2% and 6.2%, respectively, compared to the previous year's first half.
Sales of dental detectors, a key component of dental X-ray/CT, increased 6.1% YoY. Amid soaring raw material prices and supply disruptions, Rayence achieved substantial growth through continuous cost innovation with an operating profit margin exceeding 20%.
Rayence will continue its growth trend in all fields for dental, medical, industrial, and animal use in the second half of the year.
Rayence supplies CMOS (Complementary Metal-Oxide Semiconductor) detectors with high-resolution, ultra-high-speed strengths to leading inspection equipment companies. In addition, the suppliers are expanding to global battery inspection equipment companies and providing for specialized medical fields is also in progress. Sales in the fluoroscopy detector sector are expected to increase in the year's second half.