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Savezone I&C Q1 profit climbs YOY

Savezone I&C Corp. said its normalized net income for the first quarter came to 142.49 South Korean won per share, a gain from 137.65 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 5.38 billion won, a gain from 5.19 billion won in the prior-year period.

The normalized profit margin rose to 11.7% from 11.5% in the year-earlier period.

Total revenue rose year over year to 46.05 billion won from 45.34 billion won, and total operating expenses rose from the prior-year period to 36.85 billion won from 36.25 billion won.

Reported net income increased from the prior-year period to 6.46 billion won, or 170.99 won per share, from 6.22 billion won, or 164.93 won per share.

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