Haengnam Household & Health Care Inc. said its normalized net income for the first quarter amounted to 1.66 South Korean won per share, an increase of 18.7% from 1.40 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 94.9 million won, a gain of 18.7% from 79.9 million won in the year-earlier period.

The normalized profit margin increased to 0.8% from 0.6% in the year-earlier period.

Total revenue declined 17.8% year over year to 10.32 billion won from 12.56 billion won, and total operating expenses declined 22.3% on an annual basis to 9.95 billion won from 12.82 billion won.

Reported net income came to 166.2 million won, or 2.90 won per share, compared to a loss of 16.3 million won, or a loss of 28 chon per share, in the year-earlier period.

As of May 14, US$1 was equivalent to 1,090.69 South Korean won.