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Raonsecure Co. Ltd. Q1 loss narrows YOY

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Raonsecure Co. Ltd. Q1 loss narrows YOY

Raonsecure Co. Ltd. said its normalized net income for the first quarter came to a loss of 9.40 South Korean won per share, compared with a loss of 17.04 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 298.9 million won, compared with a loss of 533.6 million won in the year-earlier period.

The normalized profit margin rose to negative 9.5% from negative 24.3% in the year-earlier period.

Total revenue rose 43.5% on an annual basis to 3.16 billion won from 2.20 billion won, and total operating expenses climbed 19.2% from the prior-year period to 3.64 billion won from 3.05 billion won.

Reported net income totaled a loss of 478.2 million won, or a loss of 15.03 won per share, compared to a loss of 854.2 million won, or a loss of 27.28 won per share, in the year-earlier period.

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