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GeneOne Life Science Q4 loss narrows YOY

GeneOne Life Science Inc. said its normalized net income for the fourth quarter came to a loss of 59.97 South Korean won per share, compared with a loss of 123.31 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 953.7 million won, compared with a loss of 2.31 billion won in the year-earlier period.

The normalized profit margin rose to negative 14.5% from negative 51.1% in the year-earlier period.

Total revenue climbed 46.2% year over year to 6.60 billion won from 4.51 billion won, and total operating expenses decreased from the prior-year period to 8.14 billion won from 8.42 billion won.

Reported net income totaled a loss of 367.1 million won, or a loss of 23.08 won per share, compared to a loss of 3.83 billion won, or a loss of 204.81 won per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 92 chon per share, compared with a loss of 304.88 won per share in the prior year.

Normalized net income was a loss of 14.7 million won, compared with a loss of 3.98 billion won in the prior year.

Full-year total revenue increased 15.2% on an annual basis to 28.36 billion won from 24.63 billion won, and total operating expenses increased on an annual basis to 31.99 billion won from 31.12 billion won.

The company said reported net income totaled 1.41 billion won, or 89.13 won per share, in the full year, compared with a loss of 6.49 billion won, or a loss of 497.00 won per share, the prior year.

As of March 9, US$1 was equivalent to 1,207.88 South Korean won.