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Chungho ComNet Q1 loss narrows YOY

Chungho ComNet Co. Ltd. said its normalized net income for the first quarter was a loss of 151.57 South Korean won per share, compared with a loss of 433.21 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 1.02 billion won, compared with a loss of 2.41 billion won in the year-earlier period.

The normalized profit margin climbed to negative 10.2% from negative 13.0% in the year-earlier period.

Total revenue grew 16.3% on an annual basis to 21.58 billion won from 18.56 billion won, and total operating expenses climbed from the prior-year period to 22.54 billion won from 21.97 billion won.

Reported net income totaled a loss of 1.87 billion won, or a loss of 278.16 won per share, compared to a loss of 3.74 billion won, or a loss of 672.00 won per share, in the prior-year period.

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