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SG Corp. Q1 profit climbs 62.4% YOY

SG Corp. said its normalized net income for the first quarter amounted to 6.76 South Korean won per share, an increase of 66.4% from 4.07 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 1.37 billion won, a gain of 62.4% from 843.4 million won in the year-earlier period.

The normalized profit margin climbed to 1.7% from 1.1% in the year-earlier period.

Total revenue totaled 78.35 billion won, compared with 78.38 billion won in the prior-year period, and total operating expenses decreased on an annual basis to 76.54 billion won from 77.37 billion won.

Reported net income rose year over year to 1.57 billion won, or 7.77 won per share, from 768.8 million won, or 3.71 won per share.

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