Hanssem swings to loss in Q1

Hanssem-Q1 earnings

Hanssem swings to loss in Q1

SEOUL, May 4 (Yonhap) -- Hanssem Co. on Thursday reported its first-quarter net loss of 14.2 billion won (US$10.8 million), swinging from a profit of 17.5 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 15.7 billion won for the January-March period, compared with a profit of 10 billion won a year ago. Revenue fell 10.8 percent to 469.3 billion won.

The operating loss was 14.6 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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