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Hansol Secure swings to loss in Q1

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Hansol Secure swings to loss in Q1

Hansol Secure Co. Ltd. said its first-quarter normalized net income came to a loss of 38.27 South Korean won per share, compared with 35.04 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 236.0 million won, compared with income of 215.0 million won in the year-earlier period.

The normalized profit margin fell to negative 7.2% from 5.2% in the year-earlier period.

Total revenue decreased 20.8% on an annual basis to 3.27 billion won from 4.13 billion won, and total operating expenses declined 7.4% from the prior-year period to 3.59 billion won from 3.88 billion won.

Reported net income came to a loss of 203.9 million won, or a loss of 33.07 won per share, compared to income of 270.0 million won, or 44.00 won per share, in the year-earlier period.

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