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Korea Materials & Analysis Q1 loss widens YOY

Korea Materials & Analysis Corp. said its first-quarter normalized net income was a loss of 343.63 South Korean won per share, compared with a loss of 149.06 won 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 2.17 billion won, compared with a loss of 986.4 million won in the prior-year period.

The normalized profit margin fell to negative 62.6% from negative 17.8% in the year-earlier period.

Total revenue decreased 46.3% year over year to 2.98 billion won from 5.54 billion won, and total operating expenses decreased 11.9% on an annual basis to 6.17 billion won from 7.00 billion won.

Reported net income came to a loss of 2.19 billion won, or a loss of 346.75 won per share, compared to a loss of 1.28 billion won, or a loss of 193.20 won per share, in the year-earlier period.

As of May 16, US$1 was equivalent to 1,177.43 South Korean won.