GIIR Inc. said its normalized net income for the first quarter amounted to a loss of 113.56 South Korean won per share, compared with a loss of 231.91 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 1.84 billion won, compared with a loss of 3.79 billion won in the year-earlier period.
The normalized profit margin rose to negative 2.3% from negative 5.1% in the year-earlier period.
Total revenue grew 16.1% year over year to 87.00 billion won from 74.96 billion won, and total operating expenses rose 10.5% year over year to 90.03 billion won from 81.50 billion won.
Reported net income came to a loss of 4.06 billion won, or a loss of 250.76 won per share, compared to a loss of 6.03 billion won, or a loss of 369.04 won per share, in the prior-year period.
As of May 16, US$1 was equivalent to 1,177.43 South Korean won.
