Samsung Electro-Mechanics swings to loss in Q1

SEOUL, April 24 (Yonhap) -- Samsung Electro-Mechanics Co., South Korea's top
electronics parts maker, said Friday it swung to a loss in the first quarter, hit
by sluggish demand amid the global economic downturn.

Net loss reached 7.1 billion won (US$5.29 million) in the January-March period, a
turnaround from a net profit of 4.6 billion won a year earlier, the company said
in a regulatory filing.
Sales rose 28 percent year-on-year to 1.13 trillion won, while operating loss
amounted to 7.6 billion won, it added.
Shares of the company, an affiliate of the nation's leading conglomerate Samsung
Group, fell 1.37 percent to 50,300 won as of 11:30 a.m. on the main bourse.
The company attributed the net loss to weak demand and lower prices, which led to
decreased profit margins.
ygkim@yna.co.kr
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