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DE&T Co. Ltd. Q1 loss widens 45.2% YOY

DE&T Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 172.03 South Korean won per share, compared with a loss of 119.07 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.36 billion won, compared with a loss of 938.8 million won in the year-earlier period.

The normalized profit margin increased to negative 15.2% from negative 24.0% in the year-earlier period.

Total revenue increased year over year to 8.97 billion won from 3.91 billion won, and total operating expenses increased from the prior-year period to 11.11 billion won from 5.48 billion won.

Reported net income came to a loss of 2.15 billion won, or a loss of 271.71 won per share, compared to a loss of 1.27 billion won, or a loss of 161.27 won per share, in the year-earlier period.

As of May 16, US$1 was equivalent to 1,177.43 South Korean won.