NamYang Dairy Products Co. Ltd. said its normalized net income for the first quarter amounted to 3,798.15 South Korean won per share, compared with a loss of 6,421.96 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 2.58 billion won, compared with a loss of 5.43 billion won in the year-earlier period.
The normalized profit margin climbed to 0.9% from negative 1.9% in the year-earlier period.
Total revenue declined on an annual basis to 282.91 billion won from 292.53 billion won, and total operating expenses declined 7.4% year over year to 280.50 billion won from 302.80 billion won.
Reported net income totaled 419.6 million won, or 617.35 won per share, compared to a loss of 6.06 billion won, or a loss of 7,166.96 won per share, in the prior-year period.
As of May 15, US$1 was equivalent to 1,083.65 South Korean won.
