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Kukdong Q4 profit climbs 25.7% YOY

Kukdong Corp. said its fourth-quarter normalized net income was 73.77 South Korean won per share, a decrease of 64.2% from 206.26 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 2.33 billion won, an increase of 25.7% from 1.85 billion won in the prior-year period.

The normalized profit margin increased to 5.0% from 3.5% in the year-earlier period.

Total revenue decreased 11.8% on an annual basis to 46.54 billion won from 52.78 billion won, and total operating expenses declined 10.3% year over year to 43.77 billion won from 48.82 billion won.

Reported net income increased 68.2% from the prior-year period to 3.98 billion won, or 126.03 won per share, from 2.36 billion won, or 263.31 won per share.

For the year, the company's normalized net income totaled 386.38 won per share, an increase of 10.9% from 348.51 won per share in the prior year.

Normalized net income was 6.09 billion won, a gain of 36.5% from 4.46 billion won in the prior year.

Full-year total revenue increased 15.9% on an annual basis to 197.37 billion won from 170.30 billion won, and total operating expenses rose 15.6% year over year to 186.81 billion won from 161.64 billion won.

The company said reported net income increased 40.6% year over year to 7.36 billion won, or 467.00 won per share, in the full year, from 5.24 billion won, or 409.00 won per share.

As of Feb. 22, US$1 was equivalent to 1,143.63 South Korean won.