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Dayou Plus swings to loss in Q1

Dayou Plus Co. Ltd. said its normalized net income for the first quarter amounted to a loss of 8.29 South Korean won per share, compared with 7.31 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 730.8 million won, compared with income of 655.0 million won in the year-earlier period.

The normalized profit margin fell to negative 0.6% from 0.5% in the year-earlier period.

Total revenue climbed 9.4% year over year to 130.45 billion won from 119.23 billion won, and total operating expenses grew 10.4% from the prior-year period to 128.92 billion won from 116.83 billion won.

Reported net income came to a loss of 803.7 million won, or a loss of 9.12 won per share, compared to income of 1.26 billion won, or 14.05 won per share, in the year-earlier period.

As of May 14, US$1 was equivalent to 1,090.69 South Korean won.