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Avista Q2 loss widens YOY

Metalabs Co., Ltd. said its second-quarter normalized net income amounted to a loss of 1,514.15 South Korean won per share, compared with a loss of 409.93 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.73 billion won, compared with a loss of 1.17 billion won in the prior-year period.

The normalized profit margin dropped to negative 20.5% from negative 4.6% in the year-earlier period.

Total revenue declined 8.4% year over year to 23.13 billion won from 25.26 billion won, and total operating expenses increased from the prior-year period to 26.80 billion won from 25.71 billion won.

Reported net income came to a loss of 7.78 billion won, or a loss of 2,487.72 won per share, compared to a loss of 2.44 billion won, or a loss of 857.13 won per share, in the year-earlier period.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.