Green Cross shifts to red in Q1

Green Cross-Q1 earnings

Green Cross shifts to red in Q1

SEOUL, May 2 (Yonhap) -- Green Cross Corp. on Tuesday reported its first-quarter net loss of 22.1 billion won (US$16.5 million), swinging from a profit of 18 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 13.6 billion won for the January-March period, compared with a profit of 41.8 billion won a year ago. Revenue fell 16.2 percent to 349.5 billion won.

The operating loss was 206.8 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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