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Artis Co Q1 loss widens 34.2% YOY

Artis Co. Ltd. said its first-quarter normalized net income amounted to a loss of 17.49 South Korean won per share, compared with a loss of 16.96 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 255.5 million won, compared with a loss of 190.4 million won in the year-earlier period.

The normalized profit margin fell to negative 7.0% from negative 5.1% in the year-earlier period.

Total revenue declined on an annual basis to 3.64 billion won from 3.73 billion won, and total operating expenses increased year over year to 4.06 billion won from 3.96 billion won.

Reported net income totaled a loss of 408.8 million won, or a loss of 27.98 won per share, compared to a loss of 304.6 million won, or a loss of 27.14 won per share, in the year-earlier period.

As of May 14, US$1 was equivalent to 1,090.69 South Korean won.