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Il Jeong Industrial Q4 profit falls YOY

Il Jeong Industrial Co. Ltd. said its fourth-quarter normalized net income came to 216.15 South Korean won per share, a decrease of 83.1% from 1,277.23 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 259.4 million won, a decline of 83.1% from 1.53 billion won in the prior-year period.

The normalized profit margin dropped to 1.3% from 7.8% in the year-earlier period.

Total revenue rose year over year to 20.00 billion won from 19.69 billion won, and total operating expenses rose 15.8% on an annual basis to 19.18 billion won from 16.55 billion won.

Reported net income fell 88.7% on an annual basis to 196.2 million won, or 163.51 won per share, from 1.74 billion won, or 1,449.99 won per share.

For the year, the company's normalized net income totaled 1,779.22 won per share, a decrease of 21.8% from 2,275.35 won per share in the prior year.

Normalized net income was 2.14 billion won, a decline of 21.8% from 2.73 billion won in the prior year.

Full-year total revenue decreased 13.4% year over year to 68.10 billion won from 78.64 billion won, and total operating expenses fell 12.3% year over year to 64.49 billion won from 73.50 billion won.

The company said reported net income rose on an annual basis to 7.12 billion won, or 5,929.20 won per share, in the full year, from 3.02 billion won, or 2,516.00 won per share.

As of March 10, US$1 was equivalent to 1,203.54 South Korean won.