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Kukdong Q4 profit climbs YOY

Kukdong Corp. said its normalized net income for the fourth quarter was 137.26 South Korean won per share, a gain from 62.45 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 1.85 billion won, a gain from 698.6 million won in the year-earlier period.

The normalized profit margin increased to 3.5% from 1.7% in the year-earlier period.

Total revenue climbed 25.1% year over year to 52.78 billion won from 42.20 billion won, and total operating expenses increased 21.7% year over year to 48.82 billion won from 40.13 billion won.

Reported net income increased 64.5% on an annual basis to 2.95 billion won, or 218.41 won per share, from 1.79 billion won, or 160.13 won per share.

For the year, the company's normalized net income totaled 362.95 won per share, a decrease of 38.6% from 590.75 won per share in the prior year.

Normalized net income was 4.46 billion won, a decrease of 19.9% from 5.57 billion won in the prior year.

Full-year total revenue declined 8.5% on an annual basis to 170.30 billion won from 186.09 billion won, and total operating expenses declined 8.2% year over year to 161.64 billion won from 176.07 billion won.

The company said reported net income declined 43.5% on an annual basis to 5.03 billion won, or 409.00 won per share, in the full year, from 8.90 billion won, or 944.00 won per share.

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