Daegu Department Store Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 47.23 South Korean won per share, a decline of 73.8% from 180.59 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 426.1 million won, a decrease of 73.7% from 1.62 billion won in the prior-year period.
The normalized profit margin declined to 1.1% from 4.1% in the year-earlier period.
Total revenue declined 5.5% on an annual basis to 37.67 billion won from 39.85 billion won, and total operating expenses declined 5.6% from the prior-year period to 36.19 billion won from 38.33 billion won.
Reported net income decreased 24.9% from the prior-year period to 1.07 billion won, or 118.07 won per share, from 1.42 billion won, or 158.06 won per share.
As of Aug. 27, US$1 was equivalent to 1,014.57 South Korean won.
