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Ewon Comfortech Q4 loss narrows YOY

Ewon Comfortech Co. Ltd. said its fourth-quarter normalized net income came to a loss of 13.91 South Korean won per share, compared with a loss of 19.80 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 174.3 million won, compared with a loss of 254.2 million won in the year-earlier period.

The normalized profit margin climbed to negative 1.4% from negative 2.6% in the year-earlier period.

Total revenue rose 8.2% year over year to 10.62 billion won from 9.81 billion won, and total operating expenses grew on an annual basis to 10.85 billion won from 10.34 billion won.

Reported net income came to a loss of 84.3 million won, or a loss of 6.73 won per share, compared to a loss of 371.5 million won, or a loss of 28.94 won per share, in the prior-year period.

For the year, the company's normalized net income totaled 26.38 won per share, compared with a loss of 71.51 won per share in the prior year.

Normalized net income was 330.5 million won, compared with a loss of 897.8 million won in the prior year.

Full-year total revenue grew 13.0% on an annual basis to 38.92 billion won from 34.45 billion won, and total operating expenses rose 14.2% year over year to 40.13 billion won from 35.13 billion won.

The company said reported net income totaled 726.3 million won, or 57.97 won per share, in the full year, compared with a loss of 1.36 billion won, or a loss of 108.00 won per share, the prior year.

As of March 28, US$1 was equivalent to 1,164.64 South Korean won.