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Orion Holdings profit misses consensus by 23.8% in Q1

Orion Holdings Corp. said its normalized net income for the first quarter came to 1,194.75 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 1,568.57 won per share.

EPS climbed 60.7% year over year from 743.68 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 62.75 billion won, an increase of 60.2% from 39.17 billion won in the year-earlier period.

The normalized profit margin climbed to 8.6% from 6.7% in the year-earlier period.

Total revenue increased 19.2% year over year to 698.15 billion won from 585.69 billion won, and total operating expenses rose 15.4% year over year to 578.00 billion won from 500.85 billion won.

Reported net income rose 70.3% from the prior-year period to 77.14 billion won, or 1,468.80 won per share, from 45.29 billion won, or 859.88 won per share.

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