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Sungwoo Hitech Q1 profit falls YOY

4916155 said its first-quarter normalized net income amounted to 286.08 South Korean won per share, a decline of 32.8% from 425.51 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 17.16 billion won, a decline of 32.8% from 25.54 billion won in the prior-year period.

The normalized profit margin declined to 2.0% from 3.1% in the year-earlier period.

Total revenue increased on an annual basis to 850.17 billion won from 830.10 billion won, and total operating expenses climbed from the prior-year period to 799.40 billion won from 775.77 billion won.

Reported net income decreased 43.7% year over year to 19.52 billion won, or 325.36 won per share, from 34.70 billion won, or 578.09 won per share.

s of May 15, US$1 was equivalent to 1,083.65 South Korean won.Sungwoo Hitech Co. Ltd.

4916155 said its first-quarter normalized net income amounted to 286.08 South Korean won per share, a decline of 32.8% from 425.51 won per share in the year-earlier period.