SEOUL, FandF Co. on Tuesday reported its first-quarter net income of 96.3 billion won (US$69.7 million), down 19 percent from a year earlier. The company said in a regulatory filing that operating income for the January-March period fell 12.5 percent on-year to 130.2 billion won. Revenue increased 1.9 percent to 507 billion won. The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 107.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency