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Winnova swings to loss in Q4

4815345 said its normalized net income for the fourth quarter came to a loss of 1,760.51 South Korean won per share, compared with 90.71 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 a loss of 11.96 billion won, compared with income of 611.9 million won in the prior-year period.

The normalized profit margin declined to negative 150.8% from 9.9% in the year-earlier period.

Total revenue increased 28.3% on an annual basis to 7.93 billion won from 6.18 billion won, and total operating expenses grew from the prior-year period to 26.75 billion won from 5.20 billion won.

Reported net income came to a loss of 26.21 billion won, or a loss of 3,859.74 won per share, compared to income of 1.83 billion won, or 271.50 won per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 1,739.59 won per share, compared with 44.65 won per share in the prior year.

Normalized net income was a loss of 13.17 billion won, compared with income of 281.5 million won in the prior year.

Full-year total revenue increased 12.8% on an annual basis to 20.36 billion won from 18.05 billion won, and total operating expenses increased 135.3% on an annual basis to 40.94 billion won from 17.40 billion won.

The company said reported net income totaled a loss of 26.56 billion won, or a loss of 3,508.51 won per share, in the full year, compared with income of 1.16 billion won, or 184.70 won per share, the prior year.

s of March 23, US$1 was equivalent to 1,118.96 South Korean won.Winnova Co. Ltd.

4815345 said its normalized net income for the fourth quarter came to a loss of 1,760.51 South Korean won per share, compared with 90.71 won per share in the year-earlier period.