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Chasys fiscal Q1 loss widens 31.2% YOY

Chasys Co. Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 was a loss of 67.99 South Korean won per share, compared with a loss of 51.78 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 1.13 billion won, compared with a loss of 860.0 million won in the year-earlier period.

The normalized profit margin fell to negative 7.8% from negative 4.3% in the year-earlier period.

Total revenue declined 27.5% year over year to 14.43 billion won from 19.90 billion won, and total operating expenses decreased 23.3% from the prior-year period to 16.00 billion won from 20.86 billion won.

Reported net income totaled a loss of 1.84 billion won, or a loss of 111.01 won per share, compared to a loss of 1.42 billion won, or a loss of 85.20 won per share, in the prior-year period.

As of Dec. 1, US$1 was equivalent to 1,109.60 South Korean won.