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Ram Technology Q1 loss narrows YOY

Ram Technology Co. Ltd said its normalized net income for the first quarter came to a loss of 3.81 South Korean won per share, compared with a loss of 33.12 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 43.4 million won, compared with a loss of 380.2 million won in the year-earlier period.

The normalized profit margin climbed to negative 0.6% from negative 6.7% in the year-earlier period.

Total revenue climbed 27.2% on an annual basis to 7.17 billion won from 5.63 billion won, and total operating expenses grew 17.5% from the prior-year period to 7.08 billion won from 6.03 billion won.

Reported net income came to a loss of 76.1 million won, or a loss of 6.68 won per share, compared to a loss of 581.9 million won, or a loss of 50.70 won per share, in the year-earlier period.

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