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EASY BIO Q1 profit falls YOY

EASY BIO Inc. said its normalized net income for the first quarter amounted to 61.13 South Korean won per share, a decrease of 59.7% from 151.71 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 3.31 billion won, a decrease of 59.1% from 8.09 billion won in the prior-year period.

The normalized profit margin declined to 0.8% from 2.3% in the year-earlier period.

Total revenue came to 340.92 billion won, compared with 344.33 billion won in the prior-year period, and total operating expenses rose from the prior-year period to 331.81 billion won from 319.94 billion won.

Reported net income declined 62.8% year over year to 3.16 billion won, or 58.38 won per share, from 8.47 billion won, or 158.95 won per share.

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