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Seong An Q4 loss widens YOY

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Seong An Q4 loss widens YOY

Seong An co. Ltd. said its normalized net income for the fourth quarter was a loss of 132.51 South Korean won per share, compared with a loss of 14.34 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 6.69 billion won, compared with a loss of 772.1 million won in the year-earlier period.

The normalized profit margin declined to negative 13.0% from negative 1.6% in the year-earlier period.

Total revenue grew 5.5% on an annual basis to 51.43 billion won from 48.75 billion won, and total operating expenses came to 53.48 billion won, compared with 53.02 billion won in the prior-year period.

Reported net income came to a loss of 2.30 billion won, or a loss of 45.64 won per share, compared to a loss of 2.32 billion won, or a loss of 43.15 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 81.08 won per share, compared with a loss of 27.54 won per share in the prior year.

Normalized net income was a loss of 4.36 billion won, compared with a loss of 1.49 billion won in the prior year.

Full-year total revenue totaled 195.72 billion won, compared with 196.91 billion won in the prior year, and total operating expenses grew on an annual basis to 202.43 billion won from 197.16 billion won.

The company said reported net income totaled a loss of 616.3 million won, or a loss of 11.46 won per share, in the full year, compared with a loss of 3.84 billion won, or a loss of 71.00 won per share, the prior year.

As of March 22, US$1 was equivalent to 1,118.99 South Korean won.