Amorepacific Corp. on Monday reported its first-quarter net income of 80.1 billion won (US$58.2 million), down 10.7 percent from a year earlier.
The company said in a regulatory filing that it posted 72.7 billion won in operating profit for the quarter, compared with 64.4 billion won a year ago. Sales fell 0.2 percent to 911.5 billion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 46.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency