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Ybroad Q1 profit falls YOY

Ybroad Co. Ltd. said its first-quarter normalized net income was 22.67 South Korean won per share, a decrease of 55.4% from 50.77 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 345.7 million won, a decline of 65.6% from 1.00 billion won in the prior-year period.

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

Total revenue declined 12.4% on an annual basis to 27.79 billion won from 31.74 billion won, and total operating expenses declined 10.1% from the prior-year period to 27.04 billion won from 30.09 billion won.

Reported net income decreased 65.2% year over year to 556.6 million won, or 36.50 won per share, from 1.60 billion won, or 80.76 won per share.

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