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Hyundai Livart Furniture Q1 profit falls YOY

Hyundai Livart Furniture Co. Ltd. said its normalized net income for the first quarter amounted to 378.10 South Korean won per share, a decrease of 22.8% from 489.81 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 6.37 billion won, a decrease of 22.8% from 8.25 billion won in the year-earlier period.

The normalized profit margin dropped to 3.9% from 4.8% in the year-earlier period.

Total revenue fell on an annual basis to 163.72 billion won from 171.39 billion won, and total operating expenses decreased from the prior-year period to 153.89 billion won from 158.85 billion won.

Reported net income fell 24.4% year over year to 7.71 billion won, or 457.79 won per share, from 10.19 billion won, or 605.00 won per share.

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