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Ilji Technology Q1 profit falls YOY

Ilji Technology Co. Ltd. said its normalized net income for the first quarter amounted to 186.66 South Korean won per share, a decrease of 42.8% from 326.44 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 2.52 billion won, a decrease of 42.8% from 4.41 billion won in the prior-year period.

The normalized profit margin fell to 3.9% from 7.6% in the year-earlier period.

Total revenue increased 12.5% on an annual basis to 65.40 billion won from 58.12 billion won, and total operating expenses increased 21.0% year over year to 59.95 billion won from 49.55 billion won.

Reported net income declined 42.2% from the prior-year period to 3.25 billion won, or 240.51 won per share, from 5.62 billion won, or 416.33 won per share.

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