NCsoft logs 34.5 bln won in Q1 net

SEOUL, May 17 (Yonhap) -- NCsoft Corp., a South Korean online game developer, said Tuesday that it posted a net profit of 34.5 billion won (US$31.6 million) in the first quarter of this year. Sales reached 155.5 billion won in the January-March period and operating profit stood at 40.7 billion won, it said in a regulatory filing. The figure was consolidated and based on the new International Financial Reporting Standards (IFRSs) that the company adopted this year. It did not provide revised figures for the previous year. Based on the previous Korea's Generally Accepted Accounting Principles (K-GAAP), the online game developer registered 40.8 billion won for its first quarter net income, compared with 58.2 billion won one year earlier. NCsoft, the maker of popular role-playing online games such as Lineage and Aion, launched a new professional baseball team in March.