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Daekyo Q4 profit climbs YOY

Daekyo Co. Ltd. said its normalized net income for the fourth quarter amounted to 201.52 South Korean won per share, a gain from 33.16 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 6.22 billion won, an increase from 3.01 billion won in the prior-year period.

The normalized profit margin climbed to 3.1% from 1.5% in the year-earlier period.

Total revenue came to 200.91 billion won, compared with 199.74 billion won in the prior-year period, and total operating expenses declined on an annual basis to 190.11 billion won from 194.88 billion won.

Reported net income totaled 3.90 billion won, or 126.44 won per share, compared to a loss of 7.51 billion won, or a loss of 82.77 won per share, in the prior-year period.

For the year, the company's normalized net income totaled 340.99 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 444.67 won.

EPS rose 43.5% from 237.59 won in the prior year.

Normalized net income was 25.93 billion won, a gain of 19.6% from 21.68 billion won in the prior year.

Full-year total revenue amounted to 813.21 billion won, compared with 810.56 billion won in the prior year, and total operating expenses decreased on an annual basis to 770.16 billion won from 779.87 billion won.

The company said reported net income fell 7.6% on an annual basis to 37.33 billion won, or 491.00 won per share, in the full year, from 40.43 billion won, or 443.00 won per share.

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