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I&C Technology Q1 loss narrows YOY

I&C Technology Co. Ltd. said its normalized net income for the first quarter was a loss of 35.37 South Korean won per share, compared with a loss of 96.33 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 494.8 million won, compared with a loss of 1.29 billion won in the prior-year period.

The normalized profit margin climbed to negative 20.2% from negative 102.1% in the year-earlier period.

Total revenue rose 94.7% year over year to 2.45 billion won from 1.26 billion won, and total operating expenses fell year over year to 3.47 billion won from 3.57 billion won.

Reported net income came to a loss of 808.7 million won, or a loss of 57.81 won per share, compared to a loss of 2.17 billion won, or a loss of 162.11 won per share, in the prior-year period.

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