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SG Corp. Q4 loss narrows YOY

SG Corp. said its fourth-quarter normalized net income came to a loss of 4.08 South Korean won per share, compared with a loss of 10.71 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 826.3 million won, compared with a loss of 2.39 billion won in the prior-year period.

The normalized profit margin increased to negative 1.1% from negative 2.7% in the year-earlier period.

Total revenue declined 17.5% on an annual basis to 72.86 billion won from 88.32 billion won, and total operating expenses fell 17.9% on an annual basis to 74.40 billion won from 90.63 billion won.

Reported net income came to a loss of 2.06 billion won, or a loss of 10.20 won per share, compared to a loss of 4.76 billion won, or a loss of 21.33 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 9.57 won per share, compared with a loss of 16.97 won per share in the prior year.

Normalized net income was 1.94 billion won, compared with a loss of 3.47 billion won in the prior year.

Full-year total revenue decreased 6.7% on an annual basis to 317.71 billion won from 340.41 billion won, and total operating expenses decreased 8.6% year over year to 314.55 billion won from 344.31 billion won.

The company said reported net income totaled 1.47 billion won, or 7.26 won per share, in the full year, compared with a loss of 6.74 billion won, or a loss of 33.00 won per share, the prior year.

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