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Il Jeong Industrial Q1 profit climbs 25.4% YOY

Il Jeong Industrial Co. Ltd. said its first-quarter normalized net income came to 572.86 South Korean won per share, a gain of 25.3% from 457.37 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 687.4 million won, a gain of 25.4% from 548.3 million won in the year-earlier period.

The normalized profit margin fell to negative 17.8% from 2.5% in the year-earlier period.

Total revenue decreased 18.1% on an annual basis to 17.71 billion won from 21.63 billion won, and total operating expenses declined 21.0% year over year to 16.48 billion won from 20.85 billion won.

Reported net income grew 10.1% on an annual basis to 752.6 million won, or 627.15 won per share, from 683.4 million won, or 570.05 won per share.

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