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Chungdahm Learning swings to loss in Q2

Chungdahm Learning Inc. said its normalized net income for the second quarter came to a loss of 158.85 South Korean won per share, compared with 92.91 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 836.6 million won, compared with income of 497.6 million won in the prior-year period.

The normalized profit margin declined to negative 2.6% from 1.6% in the year-earlier period.

Total revenue totaled 31.81 billion won, compared with 31.65 billion won in the prior-year period, and total operating expenses grew from the prior-year period to 31.04 billion won from 30.25 billion won.

Reported net income totaled a loss of 1.87 billion won, or a loss of 355.96 won per share, compared to income of 1.19 billion won, or 222.35 won per share, in the prior-year period.

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