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THINKWARE Q4 profit climbs YOY

THINKWARE Corp. said its fourth-quarter normalized net income came to 253.36 South Korean won per share, a gain from 48.89 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 1.87 billion won, an increase from 414.8 million won in the year-earlier period.

The normalized profit margin climbed to 3.8% from 1.0% in the year-earlier period.

Total revenue climbed 23.8% on an annual basis to 49.15 billion won from 39.71 billion won, and total operating expenses increased 21.4% on an annual basis to 46.88 billion won from 38.60 billion won.

Reported net income increased 34.1% year over year to 1.01 billion won, or 137.60 won per share, from 756.2 million won, or 89.15 won per share.

For the year, the company's normalized net income totaled 390.04 won per share, a gain from 132.12 won per share in the prior year.

Normalized net income was 3.33 billion won, an increase from 942.5 million won in the prior year.

Full-year total revenue rose 22.3% year over year to 185.04 billion won from 151.26 billion won, and total operating expenses increased 21.2% on an annual basis to 179.55 billion won from 148.15 billion won.

The company said reported net income rose year over year to 2.21 billion won, or 259.00 won per share, in the full year, from 913.1 million won, or 128.00 won per share.

As of March 16, US$1 was equivalent to 1,126.74 South Korean won.