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Xhyungji Elite swings to loss in fiscal Q1

Xhyungji Elite Co. Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was a loss of 77.58 South Korean won per share, compared with 20.28 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 1.01 billion won, compared with income of 205.2 million won in the year-earlier period.

The normalized profit margin fell to negative 7.6% from 1.5% in the year-earlier period.

Total revenue declined 15.5% on an annual basis to 11.87 billion won from 14.06 billion won, and total operating expenses totaled 13.33 billion won, compared with 13.32 billion won in the year-earlier period.

Reported net income totaled a loss of 1.17 billion won, or a loss of 90.40 won per share, compared to a loss of 428.4 million won, or a loss of 42.33 won per share, in the prior-year period.

As of Nov. 28, US$1 was equivalent to 1,112.91 South Korean won.