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Longtu Korea Q2 loss widens YOY

Longtu Korea Inc. said its second-quarter normalized net income was a loss of 20.53 South Korean won per share, compared with a loss of 25.45 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 408.5 million won, compared with a loss of 182.9 million won in the prior-year period.

The normalized profit margin rose to 0.0% from negative 6.0% in the year-earlier period.

Total revenue rose 17.7% year over year to 3.62 billion won from 3.07 billion won, and total operating expenses rose 32.7% from the prior-year period to 4.49 billion won from 3.39 billion won.

Reported net income came to a loss of 537.4 million won, or a loss of 33.61 won per share, compared to a loss of 346.6 million won, or a loss of 48.22 won per share, in the prior-year period.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.