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SD System Q1 loss narrows YOY

SD System Co. Ltd. said its first-quarter normalized net income came to a loss of 344.94 South Korean won per share, compared with a loss of 348.90 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 1.72 billion won, compared with a loss of 1.74 billion won in the prior-year period.

The normalized profit margin climbed to negative 13.9% from negative 17.1% in the year-earlier period.

Total revenue rose 21.4% on an annual basis to 12.34 billion won from 10.16 billion won, and total operating expenses rose 15.3% year over year to 14.96 billion won from 12.97 billion won.

Reported net income came to a loss of 2.75 billion won, or a loss of 551.91 won per share, compared to a loss of 2.78 billion won, or a loss of 558.25 won per share, in the prior-year period.

As of May 12, US$1 was equivalent to 1,167.89 South Korean won.