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Haatz Q4 profit climbs YOY

Haatz Inc. said its fourth-quarter normalized net income was 90.35 South Korean won per share, a gain from 43.21 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 1.14 billion won, a gain from 546.4 million won in the year-earlier period.

The normalized profit margin increased to 5.4% from 2.7% in the year-earlier period.

Total revenue climbed 5.3% year over year to 21.22 billion won from 20.15 billion won, and total operating expenses grew year over year to 19.58 billion won from 19.04 billion won.

Reported net income increased year over year to 1.51 billion won, or 120.11 won per share, from 93.5 million won, or 7.39 won per share.

For the year, the company's normalized net income totaled 273.60 won per share, an increase of 37.4% from 199.06 won per share in the prior year.

Normalized net income was 3.45 billion won, a gain of 37.7% from 2.51 billion won in the prior year.

Full-year total revenue increased 7.3% on an annual basis to 81.60 billion won from 76.06 billion won, and total operating expenses rose 6.2% year over year to 76.85 billion won from 72.33 billion won.

The company said reported net income increased 16.2% on an annual basis to 3.96 billion won, or 314.31 won per share, in the full year, from 3.41 billion won, or 271.00 won per share.

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