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Daedong Gear Q1 profit climbs YOY

Daedong Gear Co., Ltd. said its first-quarter normalized net income was 174.93 South Korean won per share, a gain from 21.77 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 157.2 million won, an increase from 19.2 million won in the year-earlier period.

The normalized profit margin climbed to 0.4% from 0.1% in the year-earlier period.

Total revenue climbed 8.6% on an annual basis to 35.11 billion won from 32.33 billion won, and total operating expenses climbed 8.0% year over year to 34.58 billion won from 32.03 billion won.

Reported net income increased year over year to 195.6 million won, or 217.63 won per share, from 20.3 million won, or 23.00 won per share.

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