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INZI Controls Q4 profit climbs YOY

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INZI Controls Q4 profit climbs YOY

INZI Controls Co. Ltd. said its fourth-quarter normalized net income came to 150.93 South Korean won per share, an increase from 23.17 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 2.19 billion won, an increase from 335.5 million won in the year-earlier period.

The normalized profit margin increased to 1.3% from 0.2% in the year-earlier period.

Total revenue climbed 7.0% year over year to 172.62 billion won from 161.39 billion won, and total operating expenses rose 5.0% year over year to 167.47 billion won from 159.43 billion won.

Reported net income totaled 4.97 billion won, or 341.99 won per share, compared to a loss of 47.8 million won, or a loss of 3.30 won per share, in the prior-year period.

For the year, the company's normalized net income totaled 668.68 won per share, an increase of 58.1% from 422.83 won per share in the prior year.

Normalized net income was 9.71 billion won, an increase of 58.2% from 6.14 billion won in the prior year.

Full-year total revenue grew 11.1% from the prior-year period to 659.50 billion won from 593.35 billion won, and total operating expenses increased 10.0% year over year to 642.03 billion won from 583.44 billion won.

The company said reported net income rose on an annual basis to 11.84 billion won, or 815.33 won per share, in the full year, from 4.85 billion won, or 334.00 won per share.

As of March 10, US$1 was equivalent to 1,203.54 South Korean won.