Samsung Heavy Industries-Q1 earnings

Samsung Heavy Industries remains in red in Q1

SEOUL, April 29 (Yonhap) -- Samsung Heavy Industries Co. on Friday reported its first-quarter net loss of 103.9 billion won (US$82.7 million), remaining in the red compared with a year ago.

The company said in a regulatory filing that it continued to post an operating loss of 94.9 billion won for the January-March period, compared with a loss of 506.8 billion won a year earlier. Sales fell 5.8 percent to 1.48 trillion won.

The operating loss was 27.6 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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