Shinyoung Wacoal Inc. said its normalized net income for the first quarter amounted to 1,271.30 South Korean won per share, a decline of 42.0% from 2,192.82 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 1.14 billion won, a decline of 42.0% from 1.97 billion won in the year-earlier period.
The normalized profit margin fell to 2.6% from 4.6% in the year-earlier period.
Total revenue grew on an annual basis to 44.14 billion won from 42.73 billion won, and total operating expenses grew 6.4% year over year to 43.13 billion won from 40.54 billion won.
Reported net income grew 12.0% on an annual basis to 3.63 billion won, or 4,036.30 won per share, from 3.24 billion won, or 3,603.55 won per share.
As of May 15, US$1 was equivalent to 1,083.65 South Korean won.
