LX International-Q1 earnings

LX International-Q1 earnings

LX International Q1 net income down 29.9 pct to 156.4 bln won

SEOUL, April 28 (Yonhap) -- LX International Corp. on Friday reported its first-quarter net income of 156.4 billion won (US$116.6 million), down 29.9 percent from a year earlier.

The company said in a regulatory filing that it posted 161.7 billion won in operating profit for the quarter, compared with 245.7 billion won a year ago. Sales fell 24.8 percent to 3.69 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 105.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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