Chorokbaem Media Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 13.12 South Korean won per share, compared with 2.58 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 646.1 million won, compared with income of 68.1 million won in the year-earlier period.
The normalized profit margin declined to negative 5.0% from 0.7% in the year-earlier period.
Total revenue climbed 27.3% on an annual basis to 13.03 billion won from 10.24 billion won, and total operating expenses rose 26.0% year over year to 12.85 billion won from 10.19 billion won.
Reported net income totaled a loss of 1.06 billion won, or a loss of 21.43 won per share, compared to income of 107.8 million won, or 4.09 won per share, in the prior-year period.
As of May 16, US$1 was equivalent to 1,177.43 South Korean won.
