Very Good Tour Co. Ltd. said its fourth-quarter normalized net income amounted to a loss of 18.81 South Korean won per share, compared with a loss of 64.80 won per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 261.4 million won, compared with a loss of 903.2 million won in the year-earlier period.
The normalized profit margin increased to negative 1.9% from negative 7.6% in the year-earlier period.
Total revenue rose 16.6% on an annual basis to 13.84 billion won from 11.87 billion won, and total operating expenses climbed 9.3% from the prior-year period to 14.68 billion won from 13.44 billion won.
Reported net income came to a loss of 173.0 million won, or a loss of 12.45 won per share, compared to a loss of 1.92 billion won, or a loss of 137.81 won per share, in the year-earlier period.
For the year, the company's normalized net income totaled 327.46 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 439.00 won.
EPS rose 16.3% from 281.60 won in the prior year.
Normalized net income was 4.56 billion won, a rise of 16.3% from 3.92 billion won in the prior year.
Full-year total revenue grew from the prior-year period to 79.16 billion won from 75.53 billion won, and total operating expenses rose year over year to 72.72 billion won from 69.94 billion won.
The company said reported net income rose 71.1% on an annual basis to 5.77 billion won, or 414.12 won per share, in the full year, from 3.37 billion won, or 242.00 won per share.
As of Feb. 29, US$1 was equivalent to 1,241.88 South Korean won.