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DTR Automotive Q4 profit climbs 66.9% YOY

DTR Automotive Corp. said its normalized net income for the fourth quarter was 2,044.66 South Korean won per share, an increase of 66.8% from 1,225.59 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 17.80 billion won, a gain of 66.9% from 10.66 billion won in the year-earlier period.

The normalized profit margin increased to 7.3% from 4.9% in the year-earlier period.

Total revenue climbed 13.1% on an annual basis to 243.83 billion won from 215.65 billion won, and total operating expenses increased from the prior-year period to 214.44 billion won from 206.14 billion won.

Reported net income rose on an annual basis to 25.53 billion won, or 2,933.35 won per share, from 11.72 billion won, or 1,347.63 won per share.

For the year, the company's normalized net income totaled 6,495.90 won per share, a gain of 61.4% from 4,023.56 won per share in the prior year.

Normalized net income was 56.54 billion won, a gain of 61.5% from 35.00 billion won in the prior year.

Full-year total revenue grew 26.1% year over year to 910.46 billion won from 721.99 billion won, and total operating expenses increased 22.0% year over year to 825.52 billion won from 676.71 billion won.

The company said reported net income increased 60.1% on an annual basis to 72.74 billion won, or 8,356.99 won per share, in the full year, from 45.45 billion won, or 5,223.81 won per share.

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