We had KRW 66 billion income tax expense, which was KRW 131 billion rise compared to the year before, mainly due to a raise in corporate tax rate and improved net income of our subsidiary. As a result of the foregoing, we recorded consolidated net loss of KRW 538 billion in 2012, with slightly improved by KRW 12 billion, from net loss of KRW 550 billion in 2011.
This concludes the overview of KEPCO’s earnings results for the first quarter of 2012.
[Foreign Language – Korean]
[Interpreted] Now, let me move on to the Q&A session.[Foreign Language – Korean] [Interpreted] I am joined with the IR committee members, in charge of finance, tariff, overseas business et cetera. We are prepared to take any questions. [Foreign Language – Korean] [Interpreted] Since we will proceed in both Korean and English, all the Q&As will be interpreted. Please ensure your questions and answers are brief and clear. [Foreign Language – Korean] [Interpreted] Please begin with your questions. Question-and-Answer Session
[Foreign Language – Korean] [Interpreted] Now Q&A session will begin. (Operator instructions) Operator
[Foreign Language – Korean] [Interpreted] The first question will be given by [inaudible]. Please go ahead sir. Unidentified Analyst
[Foreign Language – Korean] [Interpreted] Yes, I have 4 questions. The first one is in the operating losses, the accounts receivables were reflected, or will we have to add-on additionally the accounts receivable to come up with the total operating loss. The second question is can you give us the figures segregated by month from the month of January to March. Third question is specifically for the month of March we see that the S&P prices have been increased, is this possibly due to the interrupted operations of Kori-1 unit and the [inaudible] nuclear power plant unit IV, and that caused the power purchase to be increased in volume, and therefore costing up the price. The fourth question is in terms of sales related costs, could you give us a segregated figure for the sales and administrative costs, SG&A costs? Read the rest of this transcript for free on seekingalpha.com