Doosan Bobcat Inc. on Monday reported its first-quarter net income of 216.8 billion won (US$157.4 million), up 4.5 percent from a year earlier.

The company said in a regulatory filing that it posted 326 billion won in operating profit for the quarter, compared with 369.7 billion won a year ago. Sales fell 0.4 percent to 2.39 trillion won.

The operating profit was 11.9 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

Source: Yonhap News Agency