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NexStreaming Q1 loss widens YOY

KineMaster Corp. said its normalized net income for the first quarter was a loss of 143.23 South Korean won per share, compared with a loss of 5.83 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 935.2 million won, compared with a loss of 38.5 million won in the prior-year period.

The normalized profit margin fell to negative 39.8% from negative 1.1% in the year-earlier period.

Total revenue fell 34.6% year over year to 2.35 billion won from 3.60 billion won, and total operating expenses increased from the prior-year period to 3.78 billion won from 3.71 billion won.

Reported net income came to a loss of 1.00 billion won, or a loss of 153.74 won per share, compared to a loss of 27.7 million won, or a loss of 4.20 won per share, in the year-earlier period.

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