Keyang Electric Machinery Co. Ltd. said its first-quarter normalized net income was 63.11 South Korean won per share, a decrease of 28.6% from 88.41 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 2.15 billion won, a decrease of 28.7% from 3.01 billion won in the prior-year period.
The normalized profit margin declined to 3.0% from 4.2% in the year-earlier period.
Total revenue grew year over year to 72.53 billion won from 71.39 billion won, and total operating expenses rose on an annual basis to 69.54 billion won from 67.06 billion won.
Reported net income decreased 30.0% from the prior-year period to 2.79 billion won, or 82.00 won per share, from 3.99 billion won, or 117.00 won per share.
As of May 15, US$1 was equivalent to 1,083.65 South Korean won.
