Hanssem-Q1 earnings

Hanssem Q1 net profit down 11.8 pct to 17.5 bln won

SEOUL, April 29 (Yonhap) -- Hanssem Co. on Friday reported its first-quarter net profit of 17.5 billion won (US$14 million), down 11.8 percent from a year earlier.

Operating profit for the January-March period was 10 billion won, down 60.2 percent from a year ago, the company said in a regulatory filing. Revenue fell 4.9 percent to 526 billion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 13.3 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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