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Piolink Q1 loss widens YOY

Piolink Inc. said its first-quarter normalized net income came to a loss of 171.88 South Korean won per share, compared with a loss of 104.53 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 1.18 billion won, compared with a loss of 586.0 million won in the year-earlier period.

The normalized profit margin climbed to 4.8% from negative 12.4% in the year-earlier period.

Total revenue declined 5.9% year over year to 4.43 billion won from 4.71 billion won, and total operating expenses climbed 8.4% from the prior-year period to 6.32 billion won from 5.83 billion won.

Reported net income totaled a loss of 1.96 billion won, or a loss of 285.61 won per share, compared to a loss of 1.62 billion won, or a loss of 289.60 won per share, in the year-earlier period.

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