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Chasys fiscal Q3 loss widens 10.4% YOY

Chasys Co. Ltd. said its normalized net income for the fiscal third quarter ended March 31 came to a loss of 36.89 South Korean won per share, compared with a loss of 33.65 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 611.9 million won, compared with a loss of 554.3 million won in the prior-year period.

The normalized profit margin dropped to negative 4.5% from negative 3.2% in the year-earlier period.

Total revenue declined 21.7% year over year to 13.74 billion won from 17.54 billion won, and total operating expenses fell 22.0% year over year to 14.31 billion won from 18.34 billion won.

Reported net income came to a loss of 525.2 million won, or a loss of 31.66 won per share, compared to a loss of 955.2 million won, or a loss of 58.00 won per share, in the prior-year period.

As of June 1, US$1 was equivalent to 1,115.34 South Korean won.