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Insung Information Q1 loss widens 59.6% YOY

Insung Information Co. Ltd said its first-quarter normalized net income came to a loss of 73.85 South Korean won per share, compared with a loss of 46.49 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 1.22 billion won, compared with a loss of 766.5 million won in the prior-year period.

The normalized profit margin climbed to negative 1.0% from negative 1.5% in the year-earlier period.

Total revenue fell year over year to 48.44 billion won from 49.70 billion won, and total operating expenses decreased year over year to 48.18 billion won from 50.63 billion won.

Reported net income totaled a loss of 2.16 billion won, or a loss of 130.61 won per share, compared to a loss of 1.40 billion won, or a loss of 84.74 won per share, in the prior-year period.

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