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Taegu Broadcasting Q1 loss narrows YOY

Taegu Broadcasting Corp. said its normalized net income for the first quarter came to a loss of 43 South Korean chon per share, compared with a loss of 3.99 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 41.4 million won, compared with a loss of 385.9 million won in the year-earlier period.

The normalized profit margin rose to negative 0.6% from negative 6.1% in the year-earlier period.

Total revenue increased 15.7% on an annual basis to 7.33 billion won from 6.33 billion won, and total operating expenses climbed on an annual basis to 7.75 billion won from 7.56 billion won.

Reported net income came to a loss of 61.1 million won, or a loss of 64 chon per share, compared to a loss of 491.2 million won, or a loss of 5.08 won per share, in the year-earlier period.

As of May 16, US$1 was equivalent to 1,177.43 South Korean won.