Korea Information Engineering Services Co. Ltd. said its first-quarter normalized net income amounted to a loss of 62.48 South Korean won per share, compared with a loss of 15.33 won per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 501.0 million won, compared with a loss of 127.1 million won in the prior-year period.
The normalized profit margin dropped to negative 1.6% from negative 0.3% in the year-earlier period.
Total revenue declined 21.4% year over year to 29.30 billion won from 37.30 billion won, and total operating expenses decreased 19.9% from the prior-year period to 30.06 billion won from 37.53 billion won.
Reported net income totaled a loss of 1.04 billion won, or a loss of 130.03 won per share, compared to a loss of 578.0 million won, or a loss of 69.72 won per share, in the year-earlier period.
As of May 13, US$1 was equivalent to 1,177.12 South Korean won.
