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Dayou Plus swings to loss in Q2

Dayou Plus Co. Ltd. said its second-quarter normalized net income amounted to a loss of 2.54 South Korean won per share, compared with 12.41 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 224.2 million won, compared with income of 1.00 billion won in the year-earlier period.

The normalized profit margin dropped to negative 0.2% from 0.8% in the year-earlier period.

Total revenue grew 6.0% year over year to 129.68 billion won from 122.37 billion won, and total operating expenses climbed 11.1% from the prior-year period to 130.34 billion won from 117.34 billion won.

Reported net income came to a loss of 503.0 million won, or a loss of 5.71 won per share, compared to income of 2.22 billion won, or 27.53 won per share, in the prior-year period.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.