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Wooree ETI Q1 loss widens YOY

Wooree Bio Co.Ltd. said its normalized net income for the first quarter was a loss of 49.29 South Korean won per share, compared with a loss of 23.09 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 1.98 billion won, compared with a loss of 897.4 million won in the prior-year period.

The normalized profit margin dropped to negative 0.7% from negative 0.2% in the year-earlier period.

Total revenue climbed 16.6% year over year to 465.28 billion won from 399.19 billion won, and total operating expenses rose 17.8% on an annual basis to 462.57 billion won from 392.64 billion won.

Reported net income totaled a loss of 5.67 billion won, or a loss of 140.99 won per share, compared to a loss of 1.70 billion won, or a loss of 43.68 won per share, in the year-earlier period.

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