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Samsung Climate Control Q1 profit falls YOY

Samsung Climate Control Co. Ltd. said its normalized net income for the first quarter amounted to 168.00 South Korean won per share, a decline of 31.7% from 245.96 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 1.35 billion won, a decrease of 30.2% from 1.93 billion won in the prior-year period.

The normalized profit margin declined to 5.9% from 7.3% in the year-earlier period.

Total revenue decreased 13.9% year over year to 22.79 billion won from 26.48 billion won, and total operating expenses declined 12.6% year over year to 21.97 billion won from 25.15 billion won.

Reported net income decreased 72.9% on an annual basis to 2.01 billion won, or 250.23 won per share, from 7.42 billion won, or 944.39 won per share.

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