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Younyi Information & Communication swings to loss in Q1

YOUNYI INFORMATION & COMUNICATION Co.Ltd said its normalized net income for the first quarter amounted to a loss of 79.61 South Korean won per share, compared with 28.40 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 995.2 million won, compared with income of 366.0 million won in the prior-year period.

The normalized profit margin declined to negative 2.0% from 0.4% in the year-earlier period.

Total revenue decreased on an annual basis to 100.60 billion won from 103.38 billion won, and total operating expenses declined on an annual basis to 100.22 billion won from 103.24 billion won.

Reported net income totaled a loss of 1.63 billion won, or a loss of 130.03 won per share, compared to income of 386.9 million won, or 30.02 won per share, in the year-earlier period.

As of May 16, US$1 was equivalent to 1,177.43 South Korean won.