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Barunson fiscal Q4 loss widens 32.1% YOY

Barunson Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 391.47 South Korean won per share, compared with a loss of 320.47 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 4.34 billion won, compared with a loss of 3.28 billion won in the year-earlier period.

The normalized profit margin dropped to negative 75.4% from negative 39.0% in the year-earlier period.

Total revenue declined 31.7% on an annual basis to 5.75 billion won from 8.42 billion won, and total operating expenses rose on an annual basis to 10.78 billion won from 10.35 billion won.

Reported net income totaled a loss of 9.39 billion won, or a loss of 847.82 won per share, compared to a loss of 5.05 billion won, or a loss of 493.11 won per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 768.97 won per share, compared with a loss of 603.82 won per share in the prior year.

Normalized net income was a loss of 8.33 billion won, compared with a loss of 5.66 billion won in the prior year.

Full-year total revenue fell 20.2% on an annual basis to 29.29 billion won from 36.69 billion won, and total operating expenses declined 7.3% year over year to 40.76 billion won from 43.98 billion won.

The company said reported net income totaled a loss of 18.59 billion won, or a loss of 1,716.68 won per share, in the full year, compared with a loss of 9.83 billion won, or a loss of 1,048.80 won per share, the prior year.

As of June 19, US$1 was equivalent to 1,103.69 South Korean won.