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Dongwon Metal fiscal Q4 loss widens YOY

Dongwon Metal Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 95.86 South Korean won per share, compared with a loss of 30.61 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 2.80 billion won, compared with a loss of 816.9 million won in the year-earlier period.

The normalized profit margin dropped to negative 2.8% from negative 0.8% in the year-earlier period.

Total revenue rose year over year to 101.73 billion won from 98.21 billion won, and total operating expenses increased from the prior-year period to 101.61 billion won from 98.29 billion won.

Reported net income totaled a loss of 4.23 billion won, or a loss of 144.55 won per share, compared to a loss of 1.89 billion won, or a loss of 70.72 won per share, in the prior-year period.

For the year, the company's normalized net income totaled 20.56 won per share, a decline of 90.2% from 210.00 won per share in the prior year.

Normalized net income was 585.7 million won, a decrease of 89.7% from 5.66 billion won in the prior year.

Full-year total revenue declined on an annual basis to 408.72 billion won from 419.66 billion won, and total operating expenses declined on an annual basis to 396.55 billion won from 402.71 billion won.

The company said reported net income fell 79.7% year over year to 1.60 billion won, or 56.00 won per share, in the full year, from 7.88 billion won, or 292.00 won per share.

As of June 29, US$1 was equivalent to 1,120.24 South Korean won.