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Savezone I&C Q4 profit climbs YOY

Savezone I&C Corp. said its fourth-quarter normalized net income was 163.57 South Korean won per share, an increase from 160.15 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 6.18 billion won, an increase from 6.06 billion won in the prior-year period.

The normalized profit margin increased to 13.1% from 12.6% in the year-earlier period.

Total revenue decreased on an annual basis to 47.17 billion won from 48.12 billion won, and total operating expenses fell on an annual basis to 37.38 billion won from 38.03 billion won.

Reported net income fell 8.8% year over year to 6.76 billion won, or 179.08 won per share, from 7.42 billion won, or 195.92 won per share.

For the year, the company's normalized net income totaled 600.96 won per share, an increase of 7.5% from 559.24 won per share in the prior year.

Normalized net income was 22.70 billion won, a rise of 7.4% from 21.13 billion won in the prior year.

Full-year total revenue declined from the prior-year period to 182.95 billion won from 187.04 billion won, and total operating expenses declined year over year to 146.07 billion won from 151.58 billion won.

The company said reported net income grew 5.3% year over year to 27.08 billion won, or 717.19 won per share, in the full year, from 25.73 billion won, or 681.00 won per share.

As of March 13, US$1 was equivalent to 1,145.44 South Korean won.