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Huvis Q1 profit falls YOY

Huvis Corp. said its normalized net income for the first quarter was 141.99 South Korean won per share, a decline of 29.5% from 201.55 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 4.67 billion won, a decrease of 29.5% from 6.63 billion won in the prior-year period.

The normalized profit margin dropped to 1.6% from 1.9% in the year-earlier period.

Total revenue fell 13.5% on an annual basis to 305.80 billion won from 353.61 billion won, and total operating expenses declined 13.2% on an annual basis to 296.02 billion won from 340.88 billion won.

Reported net income declined 36.3% year over year to 5.36 billion won, or 162.87 won per share, from 8.41 billion won, or 255.85 won per share.

As of May 14, US$1 was equivalent to 1,090.69 South Korean won.