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.
