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MobileLeader Q1 loss narrows YOY

MobileLeader Co.Ltd. said its first-quarter normalized net income came to a loss of 15.15 South Korean won per share, compared with a loss of 97.55 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 42.3 million won, compared with a loss of 281.1 million won in the year-earlier period.

The normalized profit margin increased to negative 1.2% from negative 10.7% in the year-earlier period.

Total revenue declined 13.4% year over year to 2.28 billion won from 2.63 billion won, and total operating expenses fell 23.5% from the prior-year period to 3.12 billion won from 4.08 billion won.

Reported net income came to a loss of 420.3 million won, or a loss of 150.52 won per share, compared to a loss of 713.4 million won, or a loss of 247.54 won per share, in the prior-year period.

As of May 13, US$1 was equivalent to 1,177.12 South Korean won.