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Yoosung Enterprise Q1 profit falls YOY

Yoosung Enterprise Co. Ltd. said its normalized net income for the first quarter was 207.83 South Korean won per share, a decline of 31.7% from 304.27 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 5.33 billion won, a decline of 31.7% from 7.80 billion won in the year-earlier period.

The normalized profit margin fell to 7.8% from 9.7% in the year-earlier period.

Total revenue decreased 14.3% year over year to 68.61 billion won from 80.09 billion won, and total operating expenses decreased 12.1% from the prior-year period to 59.42 billion won from 67.57 billion won.

Reported net income decreased 31.4% year over year to 8.20 billion won, or 319.71 won per share, from 11.95 billion won, or 466.03 won per share.

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