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Korea Kolmar Holdings swings to profit in Q4

Korea Kolmar Holdings Co. Ltd. said its normalized net income for the fourth quarter amounted to 467.01 South Korean won per share, compared with a loss of 310.77 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 7.78 billion won, compared with a loss of 4.86 billion won in the prior-year period.

The normalized profit margin climbed to 9.1% from negative 6.8% in the year-earlier period.

Total revenue climbed 20.0% year over year to 85.78 billion won from 71.46 billion won, and total operating expenses increased 16.8% on an annual basis to 73.02 billion won from 62.54 billion won.

Reported net income came to 10.36 billion won, or 622.08 won per share, compared to a loss of 10.10 billion won, or a loss of 645.27 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 1,470.65 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 1,458.00 won.

EPS rose from 283.39 won in the prior year.

Normalized net income was 24.49 billion won, a rise from 4.57 billion won in the prior year.

Full-year total revenue increased 10.3% year over year to 330.44 billion won from 299.57 billion won, and total operating expenses rose 12.1% year over year to 285.60 billion won from 254.78 billion won.

The company said reported net income came to 36.64 billion won, or 2,200.53 won per share, in the full year, compared with a loss of 742.4 million won, or a loss of 46.00 won per share, the prior year.

As of March 16, US$1 was equivalent to 1,126.74 South Korean won.