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RYUK-IL C&S swings to loss in Q1

RYUK-IL C&S. Ltd said its normalized net income for the first quarter amounted to a loss of 56.24 South Korean won per share, compared with 236.03 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 468.0 million won, compared with income of 1.79 billion won in the year-earlier period.

The normalized profit margin dropped to negative 5.7% from 6.6% in the year-earlier period.

Total revenue declined 70.0% on an annual basis to 8.18 billion won from 27.26 billion won, and total operating expenses fell 64.1% on an annual basis to 8.66 billion won from 24.12 billion won.

Reported net income totaled a loss of 718.2 million won, or a loss of 86.31 won per share, compared to income of 2.38 billion won, or 312.86 won per share, in the prior-year period.

As of May 19, US$1 was equivalent to 1,189.36 South Korean won.