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ONDA Entertainment swings to loss in Q1

DIOSTECH Co.Ltd. said its normalized net income for the first quarter came to a loss of 94.57 South Korean won per share, compared with 19.16 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 1.84 billion won, compared with income of 361.2 million won in the prior-year period.

The normalized profit margin fell to negative 16.1% from 2.5% in the year-earlier period.

Total revenue fell 21.2% on an annual basis to 11.45 billion won from 14.53 billion won, and total operating expenses declined on an annual basis to 14.12 billion won from 14.40 billion won.

Reported net income totaled a loss of 2.88 billion won, or a loss of 148.18 won per share, compared to income of 584.9 million won, or 31.02 won per share, in the year-earlier period.

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