Korea Aerospace Industries Q1 net profit down 85 pct. to 11.9 bln won

SEOUL, May 7 (Yonhap) -- Korea Aerospace Industries Ltd. on Friday reported its first-quarter net profit of 11.9 billion won (US$10.6 million), down 85 percent from a year earlier.

The company said in a regulatory filing that operating income for the January-March period fell 87.3 percent on-year to 8.4 billion won. Revenue decreased 26.1 percent to 611.7 billion won.

The operating profit was 40.0 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.
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