Samyang Tongsang Co. Ltd. said its first-quarter normalized net income was 541.27 South Korean won per share, a decline of 13.8% from 628.08 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 1.62 billion won, a decline of 13.8% from 1.88 billion won in the year-earlier period.
The normalized profit margin fell to 3.1% from 3.8% in the year-earlier period.
Total revenue grew 6.9% on an annual basis to 52.38 billion won from 48.98 billion won, and total operating expenses increased 8.5% from the prior-year period to 49.65 billion won from 45.76 billion won.
Reported net income decreased 10.1% from the prior-year period to 1.94 billion won, or 647.37 won per share, from 2.16 billion won, or 719.96 won per share.
As of May 15, US$1 was equivalent to 1,083.65 South Korean won.
