Nokwon Commercials & Industries Inc. said its first-quarter normalized net income was a loss of 58.60 South Korean won per share, compared with a loss of 146.08 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 353.1 million won, compared with a loss of 762.8 million won in the prior-year period.
The normalized profit margin climbed to negative 29.8% from negative 41.1% in the year-earlier period.
Total revenue declined 36.3% on an annual basis to 1.18 billion won from 1.86 billion won, and total operating expenses fell 46.7% on an annual basis to 1.54 billion won from 2.88 billion won.
Reported net income came to a loss of 565.0 million won, or a loss of 93.77 won per share, compared to a loss of 1.26 billion won, or a loss of 240.40 won per share, in the year-earlier period.
As of May 13, US$1 was equivalent to 1,177.12 South Korean won.
