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D.I Corp. swings to loss in Q1

D.I Corp. said its first-quarter normalized net income amounted to a loss of 3.44 South Korean won per share, compared with 36.67 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 98.6 million won, compared with income of 1.05 billion won in the prior-year period.

The normalized profit margin declined to negative 0.5% from 3.8% in the year-earlier period.

Total revenue fell 28.1% on an annual basis to 20.07 billion won from 27.91 billion won, and total operating expenses fell 25.6% on an annual basis to 19.64 billion won from 26.39 billion won.

Reported net income totaled a loss of 47.9 million won, or a loss of 1.67 won per share, compared to income of 1.26 billion won, or 44.01 won per share, in the prior-year period.

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