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LF Corp. Q4 profit falls YOY

LF Corp. said its fourth-quarter normalized net income came to 617.14 South Korean won per share, a decline of 46.2% from 1,146.53 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 18.05 billion won, a decline of 46.2% from 33.54 billion won in the prior-year period.

The normalized profit margin fell to 3.9% from 7.7% in the year-earlier period.

Total revenue climbed 5.5% year over year to 458.09 billion won from 434.18 billion won, and total operating expenses climbed 9.9% from the prior-year period to 427.05 billion won from 388.42 billion won.

Reported net income declined 51.9% from the prior-year period to 19.15 billion won, or 654.76 won per share, from 39.80 billion won, or 1,360.48 won per share.

For the year, the company's normalized net income totaled 1,693.54 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 2,356.00 won.

EPS declined 26.9% from 2,317.14 won in the prior year.

Normalized net income was 49.52 billion won, a decrease of 26.9% from 67.75 billion won in the prior year.

Full-year total revenue increased 7.6% year over year to 1.571 trillion won from 1.460 trillion won, and total operating expenses increased 9.7% on an annual basis to 1.497 trillion won from 1.364 trillion won.

The company said reported net income declined 37.4% year over year to 50.93 billion won, or 1,741.63 won per share, in the full year, from 81.35 billion won, or 2,782.00 won per share.

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