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Korea Semiconductor System Q1 loss narrows YOY

KOSES Co.Ltd said its first-quarter normalized net income came to a loss of 9.59 South Korean won per share, compared with a loss of 37.55 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 154.5 million won, compared with a loss of 604.6 million won in the prior-year period.

The normalized profit margin increased to negative 1.3% from negative 5.5% in the year-earlier period.

Total revenue grew 8.8% on an annual basis to 12.04 billion won from 11.07 billion won, and total operating expenses grew year over year to 11.98 billion won from 11.80 billion won.

Reported net income came to a loss of 246.8 million won, or a loss of 15.33 won per share, compared to a loss of 971.7 million won, or a loss of 60.36 won per share, in the prior-year period.

As of May 13, US$1 was equivalent to 1,177.12 South Korean won.