Samsung Electro-Mechanics-Q1 earnings

Samsung Electro-Mechanics-Q1 earnings

Samsung Electro-Mechanics Q1 net income down 63.3 pct to 118.1 bln won

SEOUL, April 26 (Yonhap) -- Samsung Electro-Mechanics Co. on Wednesday reported its first-quarter net income of 118.1 billion won (US$88.4 million), down 63.3 percent from a year earlier.

The company said in a regulatory filing that it posted 140.1 billion won in operating profit for the quarter, compared with 410.5 billion won a year ago. Revenue fell 22.7 percent to 2.02 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 104.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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