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Digital Optics Q1 loss widens YOY

Digital Optics Co. Ltd. said its normalized net income for the first quarter was a loss of 126.55 South Korean won per share, compared with a loss of 68.94 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 2.42 billion won, compared with a loss of 742.2 million won in the year-earlier period.

The normalized profit margin declined to negative 12.2% from negative 4.4% in the year-earlier period.

Total revenue totaled 16.83 billion won, compared with 16.99 billion won in the year-earlier period, and total operating expenses rose 12.7% from the prior-year period to 20.59 billion won from 18.27 billion won.

Reported net income came to a loss of 3.70 billion won, or a loss of 193.54 won per share, compared to a loss of 818.2 million won, or a loss of 76.00 won per share, in the year-earlier period.

As of May 13, US$1 was equivalent to 1,177.12 South Korean won.