Gamma Nu Inc. said its normalized net income for the first quarter was a loss of 67.15 South Korean won per share, compared with a loss of 19.10 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 969.7 million won, compared with a loss of 277.8 million won in the year-earlier period.
The normalized profit margin dropped to negative 105.4% from negative 19.6% in the year-earlier period.
Total revenue fell 35.1% on an annual basis to 919.8 million won from 1.42 billion won, and total operating expenses rose 28.0% year over year to 2.48 billion won from 1.94 billion won.
Reported net income totaled a loss of 1.55 billion won, or a loss of 107.44 won per share, compared to a loss of 444.4 million won, or a loss of 30.56 won per share, in the year-earlier period.
As of May 11, US$1 was equivalent to 1,163.58 South Korean won.
