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Inscobee Q2 loss narrows YOY

Inscobee Inc. said its second-quarter normalized net income amounted to a loss of 8.53 South Korean won per share, compared with a loss of 68.47 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 661.9 million won, compared with a loss of 4.28 billion won in the year-earlier period.

The normalized profit margin climbed to negative 7.1% from negative 219.9% in the year-earlier period.

Total revenue increased on an annual basis to 9.28 billion won from 1.95 billion won, and total operating expenses increased year over year to 10.75 billion won from 3.79 billion won.

Reported net income totaled a loss of 1.41 billion won, or a loss of 18.11 won per share, compared to a loss of 6.85 billion won, or a loss of 109.58 won per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to 1,101.24 South Korean won.