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Hankook Cosmetics Q4 loss narrows YOY

Hankook Cosmetics Co. Ltd. said its normalized net income for the fourth quarter amounted to a loss of 1.51 South Korean won per share, compared with a loss of 220.59 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 24.2 million won, compared with a loss of 3.54 billion won in the year-earlier period.

The normalized profit margin rose to negative 0.1% from negative 17.3% in the year-earlier period.

Total revenue grew 34.0% year over year to 27.36 billion won from 20.41 billion won, and total operating expenses grew 9.0% year over year to 27.29 billion won from 25.03 billion won.

Reported net income totaled a loss of 46.5 million won, or a loss of 2.90 won per share, compared to a loss of 19.03 billion won, or a loss of 1,185.49 won per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 191.02 won per share, compared with a loss of 537.81 won per share in the prior year.

Normalized net income was a loss of 3.07 billion won, compared with a loss of 8.64 billion won in the prior year.

Full-year total revenue rose 29.0% from the prior-year period to 98.45 billion won from 76.33 billion won, and total operating expenses grew 19.1% on an annual basis to 103.90 billion won from 87.23 billion won.

The company said reported net income came to a loss of 9.06 billion won, or a loss of 563.92 won per share, in the full year, compared with income of 26.33 billion won, or 1,639.00 won per share, the prior year.

As of March 10, US$1 was equivalent to 1,203.54 South Korean won.