China Great STAR International Ltd. said its first-quarter normalized net income was 124.62 South Korean won per share, a decrease from 129.37 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 16.82 billion won, an increase of 18.0% from 14.26 billion won in the year-earlier period.

The normalized profit margin climbed to 10.4% from 9.6% in the year-earlier period.

Total revenue rose 9.6% year over year to 162.41 billion won from 148.20 billion won, and total operating expenses rose 8.6% on an annual basis to 134.62 billion won from 123.93 billion won.

Reported net income grew 18.8% year over year to 19.76 billion won, or 146.36 won per share, from 16.63 billion won, or 150.86 won per share.

As of June 1, US$1 was equivalent to 1,115.34 South Korean won.