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BYC Co. Ltd. Q1 profit falls YOY

BYC Co. Ltd. said its first-quarter normalized net income was 3,511.99 South Korean won per share, a decline of 25.9% from 4,741.16 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 2.19 billion won, a decrease of 44.6% from 3.96 billion won in the year-earlier period.

The normalized profit margin dropped to 5.7% from 9.9% in the year-earlier period.

Total revenue decreased year over year to 38.16 billion won from 39.87 billion won, and total operating expenses fell from the prior-year period to 33.29 billion won from 33.70 billion won.

Reported net income declined 61.4% year over year to 1.93 billion won, or 3,091.22 won per share, from 5.00 billion won, or 5,987.01 won per share.

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