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Automobile & PCB Q1 profit climbs YOY

Automobile & PCB Inc. said its normalized net income for the first quarter was 47.19 South Korean won per share, an increase from 2.85 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 1.96 billion won, a gain from 115.9 million won in the prior-year period.

The normalized profit margin increased to 1.4% from 0.1% in the year-earlier period.

Total revenue increased 14.6% year over year to 141.96 billion won from 123.91 billion won, and total operating expenses rose 11.2% on an annual basis to 137.29 billion won from 123.44 billion won.

Reported net income came to 627.4 million won, or 15.09 won per share, compared to a loss of 1.69 billion won, or a loss of 41.64 won per share, in the prior-year period.

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