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Frtek Co. Ltd. Q1 loss widens 49.3% YOY

Frtek Co.Ltd. said its first-quarter normalized net income was a loss of 60.03 South Korean won per share, compared with a loss of 43.40 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 684.4 million won, compared with a loss of 458.3 million won in the prior-year period.

The normalized profit margin declined to negative 14.6% from negative 9.9% in the year-earlier period.

Total revenue came to 4.65 billion won, compared with 4.62 billion won in the prior-year period, and total operating expenses grew on an annual basis to 5.78 billion won from 5.54 billion won.

Reported net income totaled a loss of 1.09 billion won, or a loss of 95.65 won per share, compared to a loss of 766.5 million won, or a loss of 72.58 won per share, in the prior-year period.

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