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Pulmuone swings to profit in Q1

Pulmuone Co. Ltd. said its first-quarter normalized net income amounted to 712.34 South Korean won per share, compared with a loss of 498.00 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 2.65 billion won, compared with a loss of 1.85 billion won in the year-earlier period.

The normalized profit margin rose to 0.6% from negative 0.5% in the year-earlier period.

Total revenue grew 17.8% on an annual basis to 431.38 billion won from 366.18 billion won, and total operating expenses rose 18.8% on an annual basis to 428.05 billion won from 360.37 billion won.

Reported net income totaled a loss of 156.4 million won, or a loss of 41.99 won per share, compared to a loss of 2.97 billion won, or a loss of 800.78 won per share, in the year-earlier period.

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