Samyang Corp. said its normalized net income for the first quarter amounted to 794.06 South Korean won per share, a decrease of 32.9% from 1,183.09 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 4.63 billion won, a decrease of 18.3% from 5.67 billion won in the prior-year period.
The normalized profit margin declined to 1.5% from 1.8% in the year-earlier period.
Total revenue fell on an annual basis to 317.69 billion won from 323.24 billion won, and total operating expenses decreased on an annual basis to 311.35 billion won from 315.33 billion won.
Reported net income fell 26.4% on an annual basis to 5.63 billion won, or 963.89 won per share, from 7.64 billion won, or 1,593.17 won per share.
As of May 15, US$1 was equivalent to 1,083.65 South Korean won.
