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Fasoo.Com Q1 loss widens 40.1% YOY

Fasoo.Com Co. Ltd. said its normalized net income for the first quarter came to a loss of 227.07 South Korean won per share, compared with a loss of 162.12 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 1.82 billion won, compared with a loss of 1.30 billion won in the prior-year period.

The normalized profit margin dropped to negative 49.4% from negative 35.7% in the year-earlier period.

Total revenue climbed year over year to 3.67 billion won from 3.63 billion won, and total operating expenses grew 16.2% on an annual basis to 6.57 billion won from 5.65 billion won.

Reported net income totaled a loss of 2.87 billion won, or a loss of 358.43 won per share, compared to a loss of 1.34 billion won, or a loss of 167.11 won per share, in the year-earlier period.

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