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LIS Co. Ltd. Q1 loss widens 10.6% YOY

LIS Co. Ltd. said its first-quarter normalized net income came to a loss of 35.85 South Korean won per share, compared with a loss of 39.43 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 435.7 million won, compared with a loss of 393.9 million won in the prior-year period.

The normalized profit margin increased to negative 1.7% from negative 5.1% in the year-earlier period.

Total revenue increased on an annual basis to 25.23 billion won from 7.79 billion won, and total operating expenses rose year over year to 25.01 billion won from 8.27 billion won.

Reported net income came to a loss of 752.4 million won, or a loss of 61.91 won per share, compared to a loss of 697.4 million won, or a loss of 69.82 won per share, in the prior-year period.

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