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Hands Corp. swings to profit in full year

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Hands Corp. swings to profit in full year

Hands Corp. Ltd. said its normalized net income for the full year amounted to 117,797.42 South Korean won per share, compared with a loss of 18,526.02 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 13.39 billion won, compared with a loss of 1.75 billion won in the year-earlier period.

The normalized profit margin climbed to 2.0% from negative 0.3% in the year-earlier period.

Total revenue grew 17.7% year over year to 676.24 billion won from 574.64 billion won, and total operating expenses grew 9.3% year over year to 630.71 billion won from 577.25 billion won.

Reported net income came to 18.32 billion won, or 161,114.27 won per share, compared to a loss of 2.41 billion won, or a loss of 25,495.02 won per share, in the prior-year period.

As of April 7, US$1 was equivalent to 1,159.64 South Korean won.