Cuckoo Holdings Co. Ltd said its first-quarter normalized net income came to 2,765.05 South Korean won per share, a gain of 30.8% from 2,113.17 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 22.67 billion won, a gain of 31.6% from 17.23 billion won in the prior-year period.

The normalized profit margin rose to 12.7% from 12.1% in the year-earlier period.

Total revenue rose 21.4% year over year to 172.74 billion won from 142.25 billion won, and total operating expenses climbed 19.4% from the prior-year period to 139.83 billion won from 117.13 billion won.

Reported net income rose 41.8% on an annual basis to 27.28 billion won, or 3,327.17 won per share, from 19.23 billion won, or 2,359.01 won per share.

As of May 28, US$1 was equivalent to 1,109.74 South Korean won.