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CS Corp. Q1 loss narrows YOY

CS Corp. said its first-quarter normalized net income amounted to a loss of 118.79 South Korean won per share, compared with a loss of 201.95 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 1.28 billion won, compared with a loss of 2.15 billion won in the year-earlier period.

The normalized profit margin dropped to negative 21.4% from negative 17.3% in the year-earlier period.

Total revenue declined 18.5% year over year to 10.12 billion won from 12.42 billion won, and total operating expenses fell 21.7% year over year to 11.78 billion won from 15.03 billion won.

Reported net income came to a loss of 2.48 billion won, or a loss of 230.82 won per share, compared to a loss of 2.73 billion won, or a loss of 256.23 won per share, in the year-earlier period.

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