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Golf Digest Online swings to loss in Q1

Golf Digest Online Inc. said its normalized net income for the first quarter was a loss of ¥20.0 million, compared with income of ¥9.4 million in the year-earlier period.

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

The normalized profit margin declined to negative 0.5% from 0.3% in the year-earlier period.

Total revenue came to ¥3.70 billion, compared with ¥3.71 billion in the year-earlier period, and total operating expenses rose year over year to ¥3.73 billion from ¥3.69 billion.

Reported net income totaled a loss of ¥34.0 million, or a loss of ¥2.24 per share, compared to income of ¥1.0 million in the year-earlier period.

As of May 12, US$1 was equivalent to ¥119.88.