Kolon Industries-Q1 earnings

Kolon Industries Q1 net income down 67.8 pct to 28.4 bln won

SEOUL, May 9 (Yonhap) -- Kolon Industries Inc. on Tuesday reported its first-quarter net profit of 28.4 billion won (US$21.4 million), down 67.8 percent from a year earlier.

The company said in a regulatory filing that it posted 28.9 billion won in operating profit for the quarter, compared with 64.3 billion won a year ago. Revenue fell 3.8 percent to 1.22 trillion won.

The operating profit was 23.2 percent lower 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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