Seoul: Dongwon Systems Corp. on Wednesday reported its first-quarter net income of 10.6 billion won (US$7.5 million), a decrease of 31.4 percent compared to the previous year. The company disclosed these figures in a regulatory filing, highlighting a challenging period for the firm.

According to Yonhap News Agency, the company’s operating profit for the January-March period also experienced a decline, falling 21.9 percent year-on-year to 12.5 billion won. Despite the decreases in profit, the company saw an increase in sales, which rose by 9 percent to reach 336.8 billion won. This growth in sales, however, was not sufficient to offset the declines in both net and operating profits.