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Anam Electronics Q1 loss widens YOY

Anam Electronics Co. Ltd. said its first-quarter normalized net income amounted to a loss of 12.99 South Korean won per share, compared with a loss of 22 chon 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 1.00 billion won, compared with a loss of 16.9 million won in the year-earlier period.

The normalized profit margin declined to negative 3.2% from negative 0.1% in the year-earlier period.

Total revenue rose 13.1% on an annual basis to 31.32 billion won from 27.70 billion won, and total operating expenses rose 17.4% on an annual basis to 32.86 billion won from 27.99 billion won.

Reported net income totaled a loss of 1.59 billion won, or a loss of 20.59 won per share, compared to a loss of 30.7 million won, or a loss of 39 chon per share, in the year-earlier period.

As of May 14, US$1 was equivalent to 1,090.69 South Korean won.