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Semisysco Q1 loss widens YOY

Semisysco Co. Ltd said its first-quarter normalized net income came to a loss of 160.45 South Korean won per share, compared with a loss of 42.61 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 768.2 million won, compared with a loss of 216.7 million won in the year-earlier period.

The normalized profit margin fell to negative 87.7% from negative 14.1% in the year-earlier period.

Total revenue declined 42.9% year over year to 875.5 million won from 1.53 billion won, and total operating expenses declined from the prior-year period to 1.94 billion won from 2.01 billion won.

Reported net income totaled a loss of 1.51 billion won, or a loss of 314.83 won per share, compared to a loss of 232.6 million won, or a loss of 45.74 won per share, in the year-earlier period.

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