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Liveplex Q1 profit climbs 48.3% YOY

Liveplex Co. Ltd. said its normalized net income for the first quarter came to 6.60 South Korean won per share, a gain of 49.5% from 4.41 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 481.4 million won, an increase of 48.3% from 324.6 million won in the prior-year period.

The normalized profit margin declined to 2.4% from 2.5% in the year-earlier period.

Total revenue fell 20.9% year over year to 10.15 billion won from 12.84 billion won, and total operating expenses fell 22.8% year over year to 9.87 billion won from 12.79 billion won.

Reported net income rose 52.7% year over year to 957.7 million won, or 13.12 won per share, from 627.2 million won, or 8.52 won per share.

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