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Taihan Fiber Optics Q1 loss narrows YOY

Taihan Fiber Optics Co. Ltd. said its first-quarter normalized net income was a loss of 5.16 South Korean won per share, compared with a loss of 36.43 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 242.3 million won, compared with a loss of 1.73 billion won in the prior-year period.

The normalized profit margin rose to negative 1.0% from negative 7.5% in the year-earlier period.

Total revenue grew on an annual basis to 23.37 billion won from 23.05 billion won, and total operating expenses declined 7.1% year over year to 22.86 billion won from 24.61 billion won.

Reported net income totaled a loss of 387.7 million won, or a loss of 8.26 won per share, compared to a loss of 2.20 billion won, or a loss of 46.38 won per share, in the year-earlier period.

As of May 12, US$1 was equivalent to 1,167.89 South Korean won.