Hitron Systems Inc. said its first-quarter normalized net income amounted to a loss of 304.03 South Korean won per share, compared with a loss of 191.85 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 1.37 billion won, compared with a loss of 843.7 million won in the prior-year period.
The normalized profit margin fell to negative 15.4% from negative 5.3% in the year-earlier period.
Total revenue declined 43.8% year over year to 8.91 billion won from 15.85 billion won, and total operating expenses decreased 36.6% from the prior-year period to 10.96 billion won from 17.28 billion won.
Reported net income came to a loss of 2.20 billion won, or a loss of 486.45 won per share, compared to a loss of 1.35 billion won, or a loss of 306.97 won per share, in the prior-year period.
As of May 16, US$1 was equivalent to 1,177.43 South Korean won.
