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SamwooEms co. swings to loss in Q1

9complex Co. Ltd. said its first-quarter normalized net income came to a loss of 10.62 South Korean won per share, compared with 15.75 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 118.9 million won, compared with income of 168.1 million won in the prior-year period.

The normalized profit margin declined to negative 0.2% from 0.3% in the year-earlier period.

Total revenue fell 16.5% on an annual basis to 54.63 billion won from 65.44 billion won, and total operating expenses declined 17.2% on an annual basis to 53.34 billion won from 64.46 billion won.

Reported net income came to a loss of 603.7 million won, or a loss of 53.89 won per share, compared to income of 139.5 million won, or 13.07 won per share, in the year-earlier period.

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