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PATI Games Q1 loss widens 61.7% YOY

PATI Games Corp. said its first-quarter normalized net income amounted to a loss of 77.59 South Korean won per share, compared with a loss of 63.07 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 935.8 million won, compared with a loss of 578.7 million won in the prior-year period.

The normalized profit margin fell to negative 16.2% from negative 12.2% in the year-earlier period.

Total revenue climbed 22.1% year over year to 5.79 billion won from 4.74 billion won, and total operating expenses rose 26.3% from the prior-year period to 7.10 billion won from 5.62 billion won.

Reported net income totaled a loss of 1.42 billion won, or a loss of 118.00 won per share, compared to a loss of 940.3 million won, or a loss of 102.47 won per share, in the year-earlier period.

As of May 27, US$1 was equivalent to 1,182.65 South Korean won.