Singsong Holdings Co. Ltd. said its first-quarter normalized net income was 62.04 South Korean won per share, a gain of 12.3% from 55.27 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 733.9 million won, an increase of 11.7% from 656.8 million won in the prior-year period.

The normalized profit margin rose to 1.7% from 1.7% in the year-earlier period.

Total revenue grew 10.1% year over year to 43.07 billion won from 39.11 billion won, and total operating expenses climbed 10.7% on an annual basis to 42.21 billion won from 38.13 billion won.

Reported net income rose 17.6% year over year to 951.8 million won, or 80.46 won per share, from 809.7 million won, or 68.13 won per share.

As of June 1, US$1 was equivalent to 1,115.34 South Korean won.