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Sunjin Q1 profit falls YOY

Sunjin Co. Ltd. said its normalized net income for the first quarter amounted to 249.11 South Korean won per share, a decline of 38.0% from 401.81 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.06 billion won, a decline of 38.0% from 6.54 billion won in the prior-year period.

The normalized profit margin declined to 2.9% from 4.8% in the year-earlier period.

Total revenue climbed year over year to 140.03 billion won from 137.60 billion won, and total operating expenses climbed 5.0% year over year to 134.05 billion won from 127.69 billion won.

Reported net income decreased 39.1% from the prior-year period to 4.83 billion won, or 296.73 won per share, from 7.93 billion won, or 487.43 won per share.

As of May 12, US$1 was equivalent to 1,096.30 South Korean won.