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KJ Pretech swings to loss in Q1

KJ Pretech Co. Ltd. said its first-quarter normalized net income amounted to a loss of 27.07 South Korean won per share, compared with 36.90 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 524.5 million won, compared with income of 716.3 million won in the year-earlier period.

The normalized profit margin declined to negative 1.7% from 2.8% in the year-earlier period.

Total revenue grew 16.1% on an annual basis to 30.18 billion won from 25.99 billion won, and total operating expenses increased 20.9% from the prior-year period to 30.10 billion won from 24.89 billion won.

Reported net income totaled a loss of 857.0 million won, or a loss of 44.23 won per share, compared to income of 1.11 billion won, or 57.04 won per share, in the prior-year period.

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