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Unidus swings to profit in Q4

Unidus Corp. said its fourth-quarter normalized net income amounted to 34.31 South Korean won per share, compared with a loss of 94.23 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 295.1 million won, compared with a loss of 842.4 million won in the year-earlier period.

The normalized profit margin increased to 8.5% from negative 24.1% in the year-earlier period.

Total revenue came to 3.49 billion won, compared with 3.49 billion won in the year-earlier period, and total operating expenses declined 26.5% on an annual basis to 3.15 billion won from 4.29 billion won.

Reported net income came to 383.7 million won, or 44.62 won per share, compared to a loss of 1.29 billion won, or a loss of 144.74 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 69.74 won per share, compared with a loss of 121.89 won per share in the prior year.

Normalized net income was a loss of 599.7 million won, compared with a loss of 1.05 billion won in the prior year.

Full-year total revenue decreased 12.1% on an annual basis to 15.33 billion won from 17.44 billion won, and total operating expenses fell 13.6% year over year to 16.39 billion won from 18.98 billion won.

The company said reported net income totaled a loss of 1.06 billion won, or a loss of 123.58 won per share, in the full year, compared with a loss of 1.57 billion won, or a loss of 183.00 won per share, the prior year.

As of March 22, US$1 was equivalent to 1,118.99 South Korean won.