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Chungdahm Learning Q1 profit falls YOY

Chungdahm Learning Inc. said its normalized net income for the first quarter amounted to 95.94 South Korean won per share, a decrease of 74.5% from 376.02 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 505.3 million won, a decrease of 74.9% from 2.01 billion won in the year-earlier period.

The normalized profit margin declined to 2.1% from 5.9% in the year-earlier period.

Total revenue climbed on an annual basis to 35.66 billion won from 34.23 billion won, and total operating expenses climbed 6.8% year over year to 32.90 billion won from 30.81 billion won.

Reported net income declined 86.7% year over year to 328.5 million won, or 62.38 won per share, from 2.46 billion won, or 460.23 won per share.

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