Hyosung TNC Q1 net income down 64.4 pct to 37.5 bln won

Hyosung TNC-Q1 earnings

Hyosung TNC Q1 net income down 64.4 pct to 37.5 bln won

SEOUL, April 28 (Yonhap) -- Hyosung TNC Corp. on Friday reported its first-quarter net income of 37.5 billion won (US$28 million), down 64.4 percent from a year earlier.

The company said in a regulatory filing that it posted 69.3 billion won in operating profit for the quarter, compared with 190.1 billion won a year ago. Sales fell 20.5 percent to 1.86 trillion won.

The operating profit was 45.7 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

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