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Foxbrain Q1 loss widens 18.5% YOY

AIBIT Co. Ltd. said its first-quarter normalized net income amounted to a loss of 31.11 South Korean won per share, compared with a loss of 27.23 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 1.13 billion won, compared with a loss of 956.8 million won in the prior-year period.

The normalized profit margin increased to negative 4.0% from negative 7.2% in the year-earlier period.

Total revenue climbed 43.9% year over year to 19.07 billion won from 13.25 billion won, and total operating expenses rose 43.1% on an annual basis to 20.75 billion won from 14.50 billion won.

Reported net income totaled a loss of 2.04 billion won, or a loss of 56.09 won per share, compared to a loss of 1.53 billion won, or a loss of 43.57 won per share, in the year-earlier period.

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