Hanon Systems Q1 net income up 80.8 pct to 60.1 bln won

SEOUL, May 11 (Yonhap) — Hanon Systems on Tuesday reported its first-quarter net profit of 60.1 billion won (US$53.6 million), up 80.8 percent from a year earlier.

The company said in a regulatory filing that it posted 94 billion won in operating profit for the quarter, compared with 59.7 billion won a year ago. Revenue rose 11.6 percent to 1.86 trillion won.

The operating profit was 23.6 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.