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Austem Q4 profit climbs YOY

Austem Co. Ltd. said its fourth-quarter normalized net income was 222.90 South Korean won per share, a gain from 43.01 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 5.43 billion won, an increase from 1.04 billion won in the prior-year period.

The normalized profit margin rose to 10.4% from 1.9% in the year-earlier period.

Total revenue fell year over year to 52.43 billion won from 53.80 billion won, and total operating expenses declined 7.7% on an annual basis to 49.67 billion won from 53.84 billion won.

Reported net income increased from the prior-year period to 6.50 billion won, or 266.96 won per share, from 1.25 billion won, or 52.02 won per share.

For the year, the company's normalized net income totaled 388.10 won per share, a gain of 16.8% from 332.33 won per share in the prior year.

Normalized net income was 9.36 billion won, a gain of 16.8% from 8.01 billion won in the prior year.

Full-year total revenue decreased on an annual basis to 209.19 billion won from 218.06 billion won, and total operating expenses decreased 6.9% year over year to 200.11 billion won from 214.84 billion won.

The company said reported net income increased 39.3% year over year to 13.72 billion won, or 569.12 won per share, in the full year, from 9.85 billion won, or 408.61 won per share.

As of March 14, US$1 was equivalent to 1,188.55 South Korean won.