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Artis Co Q3 loss narrows YOY

Artis Co. Ltd. said its normalized net income for the third quarter was a loss of 15.00 South Korean won per share, compared with a loss of 30.65 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 300.3 million won, compared with a loss of 563.5 million won in the prior-year period.

The normalized profit margin rose to negative 18.3% from negative 50.9% in the year-earlier period.

Total revenue increased 48.3% year over year to 1.64 billion won from 1.11 billion won, and total operating expenses rose 49.7% on an annual basis to 2.10 billion won from 1.40 billion won.

Reported net income totaled a loss of 480.4 million won, or a loss of 23.99 won per share, compared to a loss of 901.6 million won, or a loss of 49.04 won per share, in the prior-year period.

As of Nov. 14, US$1 was equivalent to 1,172.96 South Korean won.