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Mediplant Q1 loss widens YOY

Medipartner Biotechnology. Co. Ltd. said its first-quarter normalized net income was a loss of 483.39 South Korean won per share, compared with a loss of 278.42 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 1.40 billion won, compared with a loss of 681.0 million won in the year-earlier period.

The normalized profit margin dropped to negative 6.7% from negative 2.6% in the year-earlier period.

Total revenue declined 24.4% on an annual basis to 19.49 billion won from 25.77 billion won, and total operating expenses fell 19.6% year over year to 21.68 billion won from 26.98 billion won.

Reported net income totaled a loss of 2.82 billion won, or a loss of 971.98 won per share, compared to a loss of 1.17 billion won, or a loss of 479.42 won per share, in the year-earlier period.

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