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Samwha Electronics Q1 loss narrows YOY

Samwha Electronics Co.Ltd. said its normalized net income for the first quarter amounted to a loss of 103.08 South Korean won per share, compared with a loss of 147.99 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 490.4 million won, compared with a loss of 575.4 million won in the prior-year period.

The normalized profit margin climbed to negative 5.1% from negative 5.3% in the year-earlier period.

Total revenue fell 11.1% on an annual basis to 9.64 billion won from 10.85 billion won, and total operating expenses decreased 10.4% from the prior-year period to 9.97 billion won from 11.12 billion won.

Reported net income totaled a loss of 776.0 million won, or a loss of 163.10 won per share, compared to a loss of 659.1 million won, or a loss of 169.52 won per share, in the prior-year period.

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