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LS Networks Q1 profit climbs YOY

LS Networks Corp. Ltd. said its normalized net income for the first quarter came to 92.59 South Korean won per share, an increase from 29.06 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.80 billion won, an increase from 2.26 billion won in the year-earlier period.

The normalized profit margin rose to 3.2% from 1.2% in the year-earlier period.

Total revenue rose 13.0% year over year to 215.15 billion won from 190.39 billion won, and total operating expenses rose 14.0% on an annual basis to 213.99 billion won from 187.73 billion won.

Reported net income grew from the prior-year period to 6.00 billion won, or 81.73 won per share, from 2.42 billion won, or 31.18 won per share.

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