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Handsome Corp. Q1 profit climbs YOY

Handsome Corp. said its normalized net income for the first quarter was 629.97 South Korean won per share, an increase from 608.73 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 13.84 billion won, a gain from 13.44 billion won in the prior-year period.

The normalized profit margin dropped to 10.3% from 10.6% in the year-earlier period.

Total revenue rose 20.0% on an annual basis to 151.57 billion won from 126.34 billion won, and total operating expenses climbed 22.5% year over year to 133.83 billion won from 109.27 billion won.

Reported net income declined on an annual basis to 16.68 billion won, or 759.24 won per share, from 17.26 billion won, or 782.13 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.