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GeneOne Life Science Q2 loss narrows YOY

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GeneOne Life Science Q2 loss narrows YOY

GeneOne Life Science Inc. said its normalized net income for the second quarter came to a loss of 35.48 South Korean won per share, compared with a loss of 74.95 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 564.6 million won, compared with a loss of 836.4 million won in the prior-year period.

The normalized profit margin rose to negative 9.0% from negative 12.1% in the year-earlier period.

Total revenue grew 18.0% on an annual basis to 8.14 billion won from 6.90 billion won, and total operating expenses grew 15.3% on an annual basis to 9.20 billion won from 7.97 billion won.

Reported net income came to a loss of 918.4 million won, or a loss of 57.71 won per share, compared to a loss of 1.34 billion won, or a loss of 119.92 won per share, in the year-earlier period.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.