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Sangsin Brake Q1 profit falls YOY

Sangsin Brake Co. Ltd. said its normalized net income for the first quarter amounted to 210.00 South Korean won per share, a decrease of 9.4% from 231.73 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 4.07 billion won, a decline of 9.2% from 4.48 billion won in the year-earlier period.

The normalized profit margin fell to 4.8% from 5.3% in the year-earlier period.

Total revenue came to 84.32 billion won, compared with 84.52 billion won in the year-earlier period, and total operating expenses totaled 77.03 billion won, compared with 76.88 billion won in the year-earlier period.

Reported net income increased 22.3% from the prior-year period to 6.36 billion won, or 328.64 won per share, from 5.20 billion won, or 269.14 won per share.

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