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MegaStudyEdu posts Q1 loss

MegaStudyEdu Co. Ltd said its first-quarter normalized net income was a loss of 2.46 billion won.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 6.2%.

Total revenue came to 39.43 billion won, and total operating expenses totaled 43.64 billion won.

Reported net income totaled a loss of 3.05 billion won, or a loss of 1,313.87 won per share.

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