U-Tech Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 167.09 South Korean won per share, compared with 247.38 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 1.70 billion won, compared with income of 1.98 billion won in the prior-year period.
The normalized profit margin declined to negative 36.9% from 13.8% in the year-earlier period.
Total revenue fell 69.1% on an annual basis to 4.41 billion won from 14.29 billion won, and total operating expenses declined 37.8% year over year to 6.89 billion won from 11.08 billion won.
Reported net income came to a loss of 2.71 billion won, or a loss of 266.90 won per share, compared to income of 2.57 billion won, or 321.00 won per share, in the prior-year period.
As of May 30, US$1 was equivalent to 1,190.50 South Korean won.
