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Motonic Q4 profit climbs 33.0% YOY

Motonic Corp. said its fourth-quarter normalized net income came to 46.30 South Korean won per share, a gain of 35.6% from 34.15 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 1.05 billion won, a gain of 33.0% from 786.5 million won in the year-earlier period.

The normalized profit margin rose to 2.1% from 1.7% in the year-earlier period.

Total revenue increased 8.8% on an annual basis to 50.75 billion won from 46.66 billion won, and total operating expenses climbed 10.9% on an annual basis to 51.40 billion won from 46.33 billion won.

Reported net income rose on an annual basis to 6.57 billion won, or 291.06 won per share, from 1.25 billion won, or 54.41 won per share.

For the year, the company's normalized net income totaled 195.71 won per share, a decrease of 40.0% from 326.07 won per share in the prior year.

Normalized net income was 4.45 billion won, a fall of 40.3% from 7.46 billion won in the prior year.

Full-year total revenue declined on an annual basis to 195.30 billion won from 203.25 billion won, and total operating expenses decreased on an annual basis to 193.67 billion won from 197.79 billion won.

The company said reported net income grew on an annual basis to 21.75 billion won, or 955.47 won per share, in the full year, from 9.22 billion won, or 403.00 won per share.

As of March 9, US$1 was equivalent to 1,156.98 South Korean won.