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Dong-A Hwasung swings to profit in Q4

4914999 said its fourth-quarter normalized net income amounted to 463.80 South Korean won per share, compared with a loss of 43.16 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 7.20 billion won, compared with a loss of 670.7 million won in the prior-year period.

The normalized profit margin climbed to 10.0% from negative 1.2% in the year-earlier period.

Total revenue increased 23.1% year over year to 71.77 billion won from 58.29 billion won, and total operating expenses rose 17.6% from the prior-year period to 66.14 billion won from 56.24 billion won.

Reported net income came to 8.16 billion won, or 526.10 won per share, compared to a loss of 1.45 billion won, or a loss of 93.55 won per share, in the prior-year period.

For the year, the company's normalized net income totaled 795.89 won per share, a gain from 327.51 won per share in the prior year.

Normalized net income was 12.52 billion won, a gain from 5.10 billion won in the prior year.

Full-year total revenue grew 13.6% year over year to 240.11 billion won from 211.43 billion won, and total operating expenses increased 14.7% on an annual basis to 225.40 billion won from 196.59 billion won.

he company said reported net income increased year over year to Dong-A Hwasung Co. Ltd.