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Hyundai Wia profit misses consensus by 21.5% in Q1

HYUNDAI WIA Corp. said its normalized net income for the first quarter was 3,383.75 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 4,310.00 won per share.

EPS fell year over year from 3,450.22 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 89.88 billion won, an increase from 88.79 billion won in the year-earlier period.

The normalized profit margin dropped to 4.5% from 4.7% in the year-earlier period.

Total revenue rose year over year to 1.989 trillion won from 1.909 trillion won, and total operating expenses rose on an annual basis to 1.859 trillion won from 1.776 trillion won.

Reported net income declined from the prior-year period to 106.81 billion won, or 4,021.19 won per share, from 108.93 billion won, or 4,233.00 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.