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YBM Net Q1 profit falls YOY

YBM Net Inc. said its first-quarter normalized net income was 52.72 South Korean won per share, a decrease of 36.5% from 83.07 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 853.2 million won, a decrease of 28.0% from 1.18 billion won in the prior-year period.

The normalized profit margin dropped to 5.0% from 5.6% in the year-earlier period.

Total revenue fell 13.4% on an annual basis to 18.33 billion won from 21.18 billion won, and total operating expenses declined 12.3% on an annual basis to 16.93 billion won from 19.30 billion won.

Reported net income fell 9.9% on an annual basis to 1.04 billion won, or 64.09 won per share, from 1.15 billion won, or 80.74 won per share.

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