Osung Advanced Materials Co. Ltd. said its first-quarter normalized net income amounted to a loss of 42.04 South Korean won per share, compared with a loss of 70 chon 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 744.4 million won, compared with a loss of 245.2 million won in the prior-year period.
The normalized profit margin declined to negative 7.1% from negative 1.7% in the year-earlier period.
Total revenue decreased 26.0% year over year to 10.51 billion won from 14.20 billion won, and total operating expenses declined 20.1% on an annual basis to 11.25 billion won from 14.08 billion won.
Reported net income totaled a loss of 1.19 billion won, or a loss of 67.26 won per share, compared to a loss of 479.0 million won, or a loss of 1.37 won per share, in the year-earlier period.
As of May 16, US$1 was equivalent to 1,177.43 South Korean won.
