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Kukdong Q1 profit falls YOY

Kukdong Corp. said its normalized net income for the first quarter was 108.35 South Korean won per share, a decrease of 25.4% from 145.16 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 1.20 billion won, a decline of 5.0% from 1.26 billion won in the year-earlier period.

The normalized profit margin increased to 3.4% from 3.1% in the year-earlier period.

Total revenue fell 13.9% on an annual basis to 35.58 billion won from 41.33 billion won, and total operating expenses decreased 12.4% on an annual basis to 34.25 billion won from 39.11 billion won.

Reported net income fell 19.4% on an annual basis to 1.48 billion won, or 133.00 won per share, from 1.83 billion won, or 210.03 won per share.

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