Seoyon Topmetal Co. Ltd. said its normalized net income for the first quarter was 100.08 South Korean won per share, a decrease of 56.7% from 231.37 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 1.17 billion won, a decrease of 56.8% from 2.70 billion won in the prior-year period.
The normalized profit margin declined to 2.6% from 5.7% in the year-earlier period.
Total revenue decreased 5.4% on an annual basis to 44.82 billion won from 47.38 billion won, and total operating expenses declined on an annual basis to 42.39 billion won from 43.11 billion won.
Reported net income decreased 59.9% from the prior-year period to 1.30 billion won, or 111.23 won per share, from 3.23 billion won, or 276.99 won per share.
As of May 15, US$1 was equivalent to 1,083.65 South Korean won.
