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DAE-IL Corp. Q4 loss narrows YOY

DAE-IL Corp. said its normalized net income for the fourth quarter amounted to a loss of 43.00 South Korean won per share, compared with a loss of 163.60 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 919.6 million won, compared with a loss of 2.76 billion won in the year-earlier period.

The normalized profit margin rose to negative 0.6% from negative 2.2% in the year-earlier period.

Total revenue rose 10.3% on an annual basis to 137.35 billion won from 124.48 billion won, and total operating expenses grew from the prior-year period to 128.46 billion won from 126.82 billion won.

Reported net income totaled a loss of 1.03 billion won, or a loss of 48.32 won per share, compared to a loss of 2.92 billion won, or a loss of 173.38 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 405.85 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 739.00 won.

EPS was a loss of 29.35 won in the prior year.

Normalized net income was 8.71 billion won, compared with a loss of 599.3 million won in the prior year.

Full-year total revenue grew on an annual basis to 519.41 billion won from 502.04 billion won, and total operating expenses came to 488.31 billion won, compared with 487.94 billion won in the prior-year period.

The company said reported net income rose year over year to 10.37 billion won, or 483.55 won per share, in the full year, from 122.5 million won, or 6.00 won per share.

As of March 7, US$1 was equivalent to 1,201.58 South Korean won.