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Chasys fiscal Q2 loss narrows YOY

Chasys Co. Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to a loss of 34.19 South Korean won per share, compared with a loss of 90.34 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 567.3 million won, compared with a loss of 1.51 billion won in the prior-year period.

The normalized profit margin rose to negative 3.5% from negative 7.7% in the year-earlier period.

Total revenue declined 17.0% on an annual basis to 16.34 billion won from 19.69 billion won, and total operating expenses declined 22.6% year over year to 16.64 billion won from 21.49 billion won.

Reported net income came to a loss of 659.2 million won, or a loss of 39.73 won per share, compared to a loss of 2.91 billion won, or a loss of 173.86 won per share, in the year-earlier period.

As of March 2, US$1 was equivalent to 1,102.78 South Korean won.