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Cosmax BTI Q1 profit climbs YOY

Cosmax BTI Inc. said its first-quarter normalized net income amounted to 145.43 South Korean won per share, an increase from 1.51 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 1.39 billion won, a gain from 15.6 million won in the prior-year period.

The normalized profit margin rose to 3.2% from 0.1% in the year-earlier period.

Total revenue increased year over year to 43.71 billion won from 20.85 billion won, and total operating expenses rose 98.1% from the prior-year period to 41.51 billion won from 20.96 billion won.

Reported net income totaled 1.59 billion won, or 166.76 won per share, compared to a loss of 86.8 million won, or a loss of 8.39 won per share, in the prior-year period.

As of May 14, US$1 was equivalent to 1,090.69 South Korean won.