KHVATEC Co. Ltd. said its first-quarter normalized net income amounted to a loss of 71.74 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 370.02 won per share.
The per-share result swung to a loss from the prior-year profit of 396.51 won.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.40 billion won, compared with income of 7.73 billion won in the prior-year period.
The normalized profit margin declined to negative 1.3% from 3.3% in the year-earlier period.
Total revenue fell 55.6% on an annual basis to 104.24 billion won from 234.62 billion won, and total operating expenses fell 52.8% year over year to 105.95 billion won from 224.24 billion won.
Reported net income came to a loss of 2.55 billion won, or a loss of 130.57 won per share, compared to income of 8.81 billion won, or 451.63 won per share, in the year-earlier period.
As of May 13, US$1 was equivalent to 1,177.12 South Korean won.
