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Cuchen posts Q4 profit

Cuchen Co. Ltd. said its fourth-quarter normalized net income came to 2.37 billion won.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 3.4%.

Total revenue came to 70.43 billion won, and total operating expenses came to 65.93 billion won.

Reported net income totaled 3.18 billion won, or 297.94 won per share.

For the year, the company's normalized net income totaled 539.16 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 660.00 won.

EPS rose 83.8% from 293.37 won in the prior year.

Normalized net income was 5.76 billion won, an increase of 83.8% from 3.13 billion won in the prior year.

Full-year total revenue rose 7.4% on an annual basis to 272.62 billion won from 253.86 billion won, and total operating expenses grew 5.7% year over year to 262.83 billion won from 248.68 billion won.

The company said reported net income rose 65.5% on an annual basis to 6.49 billion won, or 607.24 won per share, in the full year, from 3.92 billion won, or 366.97 won per share.

As of March 1, US$1 was equivalent to 1,144.79 South Korean won.