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INFAC Q1 profit falls YOY

INFAC Corp. said its normalized net income for the first quarter came to 193.18 South Korean won per share, a decrease of 36.6% from 304.66 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 1.93 billion won, a decrease of 36.5% from 3.04 billion won in the year-earlier period.

The normalized profit margin fell to 3.6% from 5.5% in the year-earlier period.

Total revenue totaled 54.61 billion won, compared with 54.94 billion won in the prior-year period, and total operating expenses grew year over year to 52.11 billion won from 51.09 billion won.

Reported net income fell 29.6% on an annual basis to 2.81 billion won, or 280.67 won per share, from 3.98 billion won, or 399.23 won per share.

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