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Leaders Cosmetics swings to loss in Q4

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Leaders Cosmetics swings to loss in Q4

Leaders Cosmetics Co. Ltd. said its normalized net income for the fourth quarter came to a loss of 40.86 South Korean won per share, compared with 226.41 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 676.7 million won, compared with income of 3.75 billion won in the year-earlier period.

The normalized profit margin fell to negative 1.6% from 10.1% in the year-earlier period.

Total revenue rose 15.0% year over year to 42.75 billion won from 37.19 billion won, and total operating expenses climbed 34.7% year over year to 40.94 billion won from 30.40 billion won.

Reported net income came to a loss of 2.44 billion won, or a loss of 147.47 won per share, compared to income of 4.84 billion won, or 292.37 won per share, in the prior-year period.

For the year, the company's normalized net income totaled 1,073.58 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1,971.00 won.

EPS rose 50.3% from 714.36 won in the prior year.

Normalized net income was 18.27 billion won, an increase of 50.3% from 12.16 billion won in the prior year.

Full-year total revenue grew 43.9% year over year to 172.78 billion won from 120.04 billion won, and total operating expenses increased 41.3% year over year to 138.57 billion won from 98.08 billion won.

The company said reported net income decreased year over year to 15.07 billion won, or 885.60 won per share, in the full year, from 15.54 billion won, or 913.00 won per share.

As of March 9, US$1 was equivalent to 1,207.88 South Korean won.