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Inter-M fiscal Q1 loss narrows YOY

Inter-M Corp. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to a loss of 8.68 South Korean won per share, compared with a loss of 15.14 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 149.8 million won, compared with a loss of 255.4 million won in the prior-year period.

The normalized profit margin declined to negative 1.6% from negative 1.4% in the year-earlier period.

Total revenue declined year over year to 17.93 billion won from 18.31 billion won, and total operating expenses climbed on an annual basis to 18.56 billion won from 18.33 billion won.

Reported net income totaled a loss of 483.3 million won, or a loss of 28.01 won per share, compared to a loss of 248.6 million won, or a loss of 14.74 won per share, in the year-earlier period.

As of Feb. 16, US$1 was equivalent to 1,100.71 South Korean won.