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INVENIA Q1 loss widens YOY

INVENIA Co. Ltd. said its normalized net income for the first quarter was a loss of 186.62 South Korean won per share, compared with a loss of 47.21 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 4.12 billion won, compared with a loss of 1.04 billion won in the year-earlier period.

The normalized profit margin declined to negative 55.6% from negative 4.9% in the year-earlier period.

Total revenue declined 68.3% on an annual basis to 6.63 billion won from 20.95 billion won, and total operating expenses fell 45.0% year over year to 11.85 billion won from 21.54 billion won.

Reported net income totaled a loss of 6.60 billion won, or a loss of 298.46 won per share, compared to a loss of 1.66 billion won, or a loss of 75.54 won per share, in the year-earlier period.

As of May 10, US$1 was equivalent to 1,171.15 South Korean won.