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NatureCell swings to loss in Q1

NatureCell Co. Ltd. said its first-quarter normalized net income amounted to a loss of 10.54 South Korean won per share, compared with 28.14 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 415.3 million won, compared with income of 1.04 billion won in the prior-year period.

The normalized profit margin fell to negative 7.4% from 20.2% in the year-earlier period.

Total revenue grew 8.6% year over year to 5.59 billion won from 5.15 billion won, and total operating expenses grew 84.6% year over year to 6.09 billion won from 3.30 billion won.

Reported net income came to a loss of 664.8 million won, or a loss of 16.87 won per share, compared to income of 1.67 billion won, or 45.00 won per share, in the year-earlier period.

As of May 14, US$1 was equivalent to 1,090.69 South Korean won.