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Artis Co Q3 loss widens YOY

Artis Co. Ltd. said its normalized net income for the third quarter came to a loss of 30.65 South Korean won per share, compared with a loss of 14.26 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 563.5 million won, compared with a loss of 160.0 million won in the prior-year period.

The normalized profit margin declined to negative 50.9% from negative 5.0% in the year-earlier period.

Total revenue fell 65.4% year over year to 1.11 billion won from 3.20 billion won, and total operating expenses decreased 57.7% year over year to 1.40 billion won from 3.32 billion won.

Reported net income totaled a loss of 901.6 million won, or a loss of 49.04 won per share, compared to a loss of 256.0 million won, or a loss of 22.82 won per share, in the year-earlier period.

As of Nov. 12, US$1 was equivalent to 1,159.89 South Korean won.