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Daehyun Q4 profit climbs 87.1% YOY

Daehyun Co. Ltd. said its normalized net income for the fourth quarter was 112.58 South Korean won per share, an increase of 73.1% from 65.05 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.99 billion won, a gain of 87.1% from 2.66 billion won in the year-earlier period.

The normalized profit margin climbed to 5.8% from 3.5% in the year-earlier period.

Total revenue climbed 11.7% on an annual basis to 86.02 billion won from 77.03 billion won, and total operating expenses grew 7.3% on an annual basis to 77.93 billion won from 72.64 billion won.

Reported net income grew 89.0% from the prior-year period to 6.88 billion won, or 155.41 won per share, from 3.64 billion won, or 88.88 won per share.

For the year, the company's normalized net income totaled 121.40 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 158.00 won.

EPS rose 43.8% from 84.44 won in the prior year.

Normalized net income was 5.38 billion won, a gain of 44.2% from 3.73 billion won in the prior year.

Full-year total revenue increased 5.8% from the prior-year period to 259.57 billion won from 245.40 billion won, and total operating expenses rose on an annual basis to 249.47 billion won from 237.99 billion won.

The company said reported net income rose 77.0% year over year to 8.29 billion won, or 187.10 won per share, in the full year, from 4.68 billion won, or 106.00 won per share.

As of Feb. 29, US$1 was equivalent to 1,241.88 South Korean won.