Cosmax Q1 net profit down 93 pct to 712 mln won

Cosmax-Q1 earnings

Cosmax Q1 net profit down 93 pct to 712 mln won

SEOUL, May 12 (Yonhap) -- Cosmax Inc. on Friday reported its first-quarter net income of 712 million won (US$533,533), down 93 percent from a year earlier.

The company said in a regulatory filing that operating profit for the January-March period rose 0.5 percent on-year to 13.8 billion won. Revenue increased 1.4 percent to 403.3 billion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 10.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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