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Good People Co. Ltd. swings to loss in Q4

Good People Co. Ltd. said its fourth-quarter normalized net income amounted to a loss of 7.43 South Korean won per share, compared with 10.14 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 188.0 million won, compared with income of 254.3 million won in the prior-year period.

The normalized profit margin fell to negative 0.6% from 0.8% in the year-earlier period.

Total revenue fell 4.9% on an annual basis to 30.83 billion won from 32.42 billion won, and total operating expenses declined from the prior-year period to 31.19 billion won from 32.03 billion won.

Reported net income came to a loss of 379.7 million won, or a loss of 15.00 won per share, compared to a loss of 159.2 million won, or a loss of 6.35 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 34.46 won per share, a decline of 43.4% from 60.90 won per share in the prior year.

Normalized net income was 866.7 million won, a decline of 42.0% from 1.49 billion won in the prior year.

Full-year total revenue fell 8.5% on an annual basis to 123.97 billion won from 135.45 billion won, and total operating expenses fell 7.7% year over year to 122.75 billion won from 132.96 billion won.

The company said reported net income decreased 35.8% on an annual basis to 1.01 billion won, or 40.12 won per share, in the full year, from 1.57 billion won, or 64.00 won per share.

As of March 8, US$1 was equivalent to 1,208.76 South Korean won.