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SE-Education swings to loss in Q1

SE-Education PCL said its normalized net income for the first quarter amounted to a loss of 2 satang per share, compared with 7 satang 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 8.2 million baht, compared with income of 27.7 million baht in the year-earlier period.

The normalized profit margin dropped to negative 0.8% from 2.4% in the year-earlier period.

Total revenue fell 10.5% year over year to 1.05 billion baht from 1.18 billion baht, and total operating expenses declined 5.7% year over year to 1.06 billion baht from 1.12 billion baht.

Reported net income came to a loss of 11.6 million baht, or a loss of 3 satang per share, compared to income of 34.9 million baht, or 9 satang per share, in the year-earlier period.

As of May 11, US$1 was equivalent to 35.21 baht.