Ilshin Spinning Co. Ltd. said its normalized net income for the first quarter amounted to 1,706.92 South Korean won per share, a decrease of 26.6% from 2,326.99 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 4.00 billion won, a decrease of 26.7% from 5.46 billion won in the year-earlier period.
The normalized profit margin declined to 3.6% from 5.4% in the year-earlier period.
Total revenue increased 10.1% year over year to 111.65 billion won from 101.41 billion won, and total operating expenses grew 11.3% year over year to 106.75 billion won from 95.92 billion won.
Reported net income decreased 35.1% year over year to 4.89 billion won, or 2,083.86 won per share, from 7.52 billion won, or 3,206.00 won per share.
As of May 15, US$1 was equivalent to 1,083.65 South Korean won.
