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G-treeBNT Q1 loss narrows YOY

G-treeBNT Co. Ltd. said its normalized net income for the first quarter came to a loss of 30.64 South Korean won per share, compared with a loss of 37.35 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 625.2 million won, compared with a loss of 683.3 million won in the prior-year period.

The normalized profit margin increased to negative 13.1% from negative 17.4% in the year-earlier period.

Total revenue rose 21.9% on an annual basis to 4.78 billion won from 3.92 billion won, and total operating expenses climbed 13.4% year over year to 5.44 billion won from 4.80 billion won.

Reported net income totaled a loss of 1.00 billion won, or a loss of 49.12 won per share, compared to a loss of 1.51 billion won, or a loss of 82.78 won per share, in the prior-year period.

As of May 13, US$1 was equivalent to 1,177.12 South Korean won.