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KNT-CT Holdings Q1 loss narrows YOY

KNT-CT Holdings Co. Ltd. said its normalized net income for the first quarter came to a loss of ¥57.28 per share, compared with a loss of ¥59.01 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 ¥1.55 billion, compared with a loss of ¥1.59 billion in the prior-year period.

The normalized profit margin declined to negative 1.8% from negative 1.7% in the year-earlier period.

Total revenue decreased 8.3% on an annual basis to ¥85.99 billion from ¥93.76 billion, and total operating expenses fell 8.3% year over year to ¥88.42 billion from ¥96.38 billion.

Reported net income came to a loss of ¥1.84 billion, or a loss of ¥68.09 per share, compared to a loss of ¥1.97 billion, or a loss of ¥73.17 per share, in the year-earlier period.

As of May 11, US$1 was equivalent to ¥119.93.