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Hwashin Precision Engineering Q4 profit falls YOY

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Hwashin Precision Engineering Q4 profit falls YOY

4911276 said its normalized net income for the fourth quarter amounted to 35 South Korean chon per share, a decrease of 96.5% from 10.09 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 12.3 million won, a decline of 96.5% from 353.7 million won in the year-earlier period.

The normalized profit margin declined to 0.0% from 0.6% in the year-earlier period.

Total revenue fell 17.5% year over year to 52.82 billion won from 64.03 billion won, and total operating expenses fell 17.8% year over year to 52.39 billion won from 63.71 billion won.

Reported net income fell 11.1% from the prior-year period to 280.7 million won, or 8.01 won per share, from 315.8 million won, or 7.94 won per share.

For the year, the company's normalized net income totaled 95.31 won per share, a fall of 19.4% from 118.31 won per share in the prior year.

Normalized net income was 3.34 billion won, a fall of 19.4% from 4.15 billion won in the prior year.

Full-year total revenue declined 6.7% from the prior-year period to 232.35 billion won from 248.95 billion won, and total operating expenses declined 6.4% year over year to 227.19 billion won from 242.64 billion won.

The company said reported net income decreased 13.3% on an annual basis to 4.35 billion won, or 123.95 won per share, in the full year, from 5.01 billion won, or 143.00 won per share.

s of Feb. 29, US$1 was equivalent to 1,241.88 South Korean won.Hwashin Precision Engineering Co. Ltd.

4911276 said its normalized net income for the fourth quarter amounted to 35 South Korean chon per share, a decrease of 96.5% from 10.09 won per share in the year-earlier period.