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Megastudy Q1 profit climbs YOY

Megastudy Co. Ltd. said its first-quarter normalized net income came to 340.18 South Korean won per share, a decline of 34.3% from 517.86 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 2.12 billion won, a gain from 2.05 billion won in the prior-year period.

The normalized profit margin dropped to 5.4% from 5.7% in the year-earlier period.

Total revenue totaled 35.97 billion won, compared with 35.80 billion won in the prior-year period, and total operating expenses fell on an annual basis to 32.40 billion won from 33.44 billion won.

Reported net income increased 24.8% from the prior-year period to 3.38 billion won, or 540.80 won per share, from 2.71 billion won, or 684.34 won per share.

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