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Siam Inter Multimedia swings to loss in Q1

STARK Corporation PCL said its first-quarter normalized net income amounted to a loss of 7 satang per share, compared with 1 satang per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 20.0 million baht, compared with income of 3.2 million baht in the prior-year period.

The normalized profit margin dropped to negative 16.1% from 2.0% in the year-earlier period.

Total revenue fell 19.1% year over year to 130.3 million baht from 161.0 million baht, and total operating expenses increased from the prior-year period to 154.6 million baht from 149.7 million baht.

Reported net income came to a loss of 26.0 million baht, or a loss of 9 satang per share, compared to income of 4.0 million baht, or 1 satang per share, in the prior-year period.

As of May 16, US$1 was equivalent to 35.39 baht.