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GH Advanced Materials Q1 profit falls YOY

GH Advanced Materials Inc. said its first-quarter normalized net income was 42.52 South Korean won per share, a decrease from 43.37 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 297.6 million won, a decline from 301.9 million won in the year-earlier period.

The normalized profit margin fell to 2.3% from 2.4% in the year-earlier period.

Total revenue increased year over year to 13.10 billion won from 12.81 billion won, and total operating expenses increased from the prior-year period to 12.92 billion won from 12.63 billion won.

Reported net income increased on an annual basis to 389.6 million won, or 55.65 won per share, from 375.1 million won, or 53.88 won per share.

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