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Guyoung Technology Q1 profit falls YOY

Guyoung Technology Co. Ltd. said its normalized net income for the first quarter came to 27.08 South Korean won per share, a decline of 36.0% from 42.32 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 510.1 million won, a decrease from 528.4 million won in the prior-year period.

The normalized profit margin rose to 1.3% from 1.3% in the year-earlier period.

Total revenue climbed year over year to 42.82 billion won from 42.21 billion won, and total operating expenses rose on an annual basis to 41.45 billion won from 40.57 billion won.

Reported net income declined 24.5% year over year to 685.3 million won, or 36.39 won per share, from 908.0 million won, or 72.73 won per share.

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