Hyundai Wia-Q1 earnings
Hyundai Wia Q1 net income down 41 pct to 13.3 bln won
SEOUL, April 22 (Yonhap) -- Hyundai Wia on Friday reported its first-quarter net profit of 13.3 billion won (US$10.7 million), down 41 percent from a year earlier.
The company said in a regulatory filing that operating income for the January-March period rose 87.7 percent on-year to 51.5 billion won. Revenue increased 2.8 percent to 1.9 trillion won.
The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 22.6 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
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