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Daehyun Q1 profit falls YOY

Daehyun Co. Ltd. said its first-quarter normalized net income came to 36.23 South Korean won per share, a decrease of 23.3% from 47.21 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 1.60 billion won, a decrease of 22.7% from 2.07 billion won in the prior-year period.

The normalized profit margin dropped to 2.4% from 3.0% in the year-earlier period.

Total revenue declined on an annual basis to 67.45 billion won from 68.64 billion won, and total operating expenses totaled 64.43 billion won, compared with 64.59 billion won in the year-earlier period.

Reported net income decreased 19.6% from the prior-year period to 2.01 billion won, or 45.48 won per share, from 2.50 billion won, or 57.00 won per share.

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