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Fantagio swings to loss in Q1

Fantagio Corp. said its normalized net income for the first quarter was a loss of 7.00 South Korean won per share, compared with 5.10 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 328.1 million won, compared with income of 236.7 million won in the year-earlier period.

The normalized profit margin fell to negative 2.7% from 3.3% in the year-earlier period.

Total revenue increased year over year to 7.51 billion won from 7.26 billion won, and total operating expenses climbed 13.5% from the prior-year period to 8.26 billion won from 7.28 billion won.

Reported net income came to a loss of 630.8 million won, or a loss of 13.47 won per share, compared to income of 154.9 million won, or 3.34 won per share, in the year-earlier period.

As of May 13, US$1 was equivalent to 1,177.12 South Korean won.