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IT CITY swings to profit in Q1

IT CITY Public Company Ltd said its first-quarter normalized net income amounted to 1.7 million baht, compared with a loss of 5.4 million baht in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to 0.1% from negative 0.4% in the year-earlier period.

Total revenue totaled 1.22 billion baht, compared with 1.21 billion baht in the year-earlier period, and total operating expenses came to 1.22 billion baht, compared with 1.22 billion baht in the year-earlier period.

Reported net income totaled 2.8 million baht, or 1 satang per share, compared to a loss of 8.4 million baht, or a loss of 2 satang per share, in the year-earlier period.

As of May 12, US$1 was equivalent to 33.74 baht.