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Nation International Edutainment swings to loss in Q1

Nation International Edutainment Public Co. Ltd. said its first-quarter normalized net income came to a loss of 5.1 million baht, compared with income of 1.6 million baht in the year-earlier period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 12.6% from 2.5% in the year-earlier period.

Total revenue decreased 36.1% on an annual basis to 40.6 million baht from 63.5 million baht, and total operating expenses fell 20.6% from the prior-year period to 50.5 million baht from 63.6 million baht.

Reported net income came to a loss of 9.2 million baht, or a loss of 5 satang per share, compared to income of 1.3 million baht, or 1 satang per share, in the year-earlier period.

As of May 3, US$1 was equivalent to 34.96 baht.