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AUK Corp. Q1 loss widens 15.9% YOY

AUK Corp. said its first-quarter normalized net income was a loss of 22.86 South Korean won per share, compared with a loss of 19.53 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 1.20 billion won, compared with a loss of 1.03 billion won in the prior-year period.

The normalized profit margin fell to negative 3.0% from negative 1.9% in the year-earlier period.

Total revenue declined 26.1% year over year to 40.30 billion won from 54.57 billion won, and total operating expenses decreased 26.5% year over year to 42.05 billion won from 57.22 billion won.

Reported net income totaled a loss of 1.87 billion won, or a loss of 35.64 won per share, compared to a loss of 1.88 billion won, or a loss of 35.60 won per share, in the year-earlier period.

As of May 16, US$1 was equivalent to 1,177.43 South Korean won.