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Golfzonyouwonholdings Q4 loss widens YOY

GOLFZON NEWDIN HOLDINGS Co. Ltd. said its normalized net income for the fourth quarter came to a loss of 304.93 South Korean won per share, compared with a loss of 60.98 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 a loss of 13.04 billion won, compared with a loss of 2.61 billion won in the prior-year period.

The normalized profit margin dropped to negative 22.1% from negative 6.0% in the year-earlier period.

Total revenue increased 36.4% year over year to 58.91 billion won from 43.18 billion won, and total operating expenses increased 30.1% year over year to 55.82 billion won from 42.90 billion won.

Reported net income came to a loss of 22.58 billion won, or a loss of 528.12 won per share, compared to a loss of 5.21 billion won, or a loss of 121.65 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 101.05 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1,444.00 won.

EPS was a loss of 286.46 won in the prior year.

Normalized net income was 4.32 billion won, compared with a loss of 10.81 billion won in the prior year.

Full-year total revenue rose 47.9% from the prior-year period to 243.28 billion won from 164.54 billion won, and total operating expenses rose 19.3% year over year to 208.10 billion won from 174.38 billion won.

The company said reported net income came to 4.03 billion won, or 94.14 won per share, in the full year, compared with a loss of 22.98 billion won, or a loss of 608.82 won per share, the prior year.

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