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Signal Entertainment Q1 loss narrows YOY

Signal Entertainment Group Corp. said its normalized net income for the first quarter was a loss of 74.14 South Korean won per share, compared with a loss of 226.15 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 521.6 million won, compared with a loss of 812.4 million won in the year-earlier period.

The normalized profit margin climbed to negative 5.8% from negative 14.0% in the year-earlier period.

Total revenue grew 21.6% on an annual basis to 7.05 billion won from 5.79 billion won, and total operating expenses decreased 9.8% year over year to 6.71 billion won from 7.44 billion won.

Reported net income totaled a loss of 827.1 million won, or a loss of 117.58 won per share, compared to a loss of 1.36 billion won, or a loss of 377.49 won per share, in the prior-year period.

As of May 13, US$1 was equivalent to 1,177.12 South Korean won.