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Samsung SDI swings to loss in Q4

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Samsung SDI swings to loss in Q4

Samsung SDI Co. Ltd. said its normalized net income for the fourth quarter came to a loss of 5,212.96 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 851.76 won per share.

The per-share result swung to a loss from the prior-year profit of 1,368.04 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 358.28 billion won, compared with income of 94.02 billion won in the prior-year period.

Total revenue increased 33.2% year over year to 1.862 trillion won from 1.398 trillion won, and total operating expenses increased 47.7% from the prior-year period to 1.943 trillion won from 1.315 trillion won.

Reported net income totaled a loss of 208.05 billion won, or a loss of 3,027.08 won per share, compared with income of 46.88 billion won, or 682.06 won per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 2,484.33 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 4,394.72 won.

EPS was 3,392.60 won in the prior year.

Normalized net income was a loss of 170.74 billion won, compared with income of 191.06 billion won in the prior year.

Full-year total revenue increased from the prior-year period to 7.569 trillion won from 5.474 trillion won, and total operating expenses rose on an annual basis to 7.629 trillion won from 5.403 trillion won.

The company said reported net income decreased year over year to 52.62 billion won, or 765.55 won per share, in the full year, from 150.31 billion won, or 2,669.14 won per share.

As of March 3, US$1 was equivalent to 1,211.12 South Korean won.