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Joongang Living Tech Q1 loss narrows YOY

CentralBio Co. Ltd. said its first-quarter normalized net income was a loss of 7.95 South Korean won per share, compared with a loss of 24.20 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 140.7 million won, compared with a loss of 427.3 million won in the prior-year period.

The normalized profit margin rose to negative 3.5% from negative 6.2% in the year-earlier period.

Total revenue fell 40.8% year over year to 4.06 billion won from 6.85 billion won, and total operating expenses fell 48.0% year over year to 4.18 billion won from 8.03 billion won.

Reported net income totaled a loss of 215.1 million won, or a loss of 12.15 won per share, compared to a loss of 850.2 million won, or a loss of 48.14 won per share, in the year-earlier period.

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