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Joymax Q1 loss narrows YOY

JOYMAX Co.Ltd. said its normalized net income for the first quarter came to a loss of 3.71 South Korean won per share, compared with a loss of 64.47 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 29.7 million won, compared with a loss of 515.1 million won in the year-earlier period.

The normalized profit margin climbed to negative 0.4% from negative 7.4% in the year-earlier period.

Total revenue rose 14.7% on an annual basis to 7.99 billion won from 6.96 billion won, and total operating expenses rose 8.1% from the prior-year period to 8.87 billion won from 8.21 billion won.

Reported net income totaled a loss of 52.4 million won, or a loss of 6.55 won per share, compared to a loss of 810.6 million won, or a loss of 101.46 won per share, in the prior-year period.

As of May 11, US$1 was equivalent to 1,163.58 South Korean won.