Woosung I.B. Co. Ltd. said its first-quarter normalized net income amounted to a loss of 321.0 million won.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 2.7%.

Total revenue totaled 11.94 billion won, and total operating expenses totaled 11.03 billion won.

Reported net income totaled a loss of 481.1 million won, or a loss of 41.01 won per share.

As of May 14, US$1 was equivalent to 1,090.69 South Korean won.