Sajo Seafood Co. Ltd. said its first-quarter normalized net income was 32.83 South Korean won per share, a decline of 41.3% from 55.89 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 565.2 million won, a decline of 41.1% from 959.8 million won in the prior-year period.
The normalized profit margin dropped to 0.8% from 1.6% in the year-earlier period.
Total revenue grew 14.6% on an annual basis to 68.00 billion won from 59.33 billion won, and total operating expenses climbed 16.8% from the prior-year period to 67.03 billion won from 57.37 billion won.
Reported net income decreased 14.1% on an annual basis to 900.3 million won, or 52.28 won per share, from 1.05 billion won, or 61.00 won per share.
As of May 15, US$1 was equivalent to 1,083.65 South Korean won.
