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Huvis swings to profit in Q4

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Huvis swings to profit in Q4

4916181 said its normalized net income for the fourth quarter came to 95.90 South Korean won per share, compared with a loss of 39.80 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 3.16 billion won, compared with a loss of 1.31 billion won in the prior-year period.

The normalized profit margin increased to 0.8% from negative 0.4% in the year-earlier period.

Total revenue decreased 7.0% on an annual basis to 301.91 billion won from 324.66 billion won, and total operating expenses fell 8.7% year over year to 295.33 billion won from 323.36 billion won.

Reported net income totaled 6.21 billion won, or 188.55 won per share, compared to a loss of 3.17 billion won, or a loss of 96.49 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 536.15 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 685.00 won.

EPS declined 22.9% from 695.37 won in the prior year.

Normalized net income was 17.64 billion won, a decrease of 22.9% from 22.88 billion won in the prior year.

Full-year total revenue fell 12.1% on an annual basis to 1.205 trillion won from 1.372 trillion won, and total operating expenses fell 11.9% on an annual basis to 1.170 trillion won from 1.328 trillion won.

The company said reported net income declined 25.3% year over year to 20.95 billion won, or 636.46 won per share, in the full year, from 28.03 billion won, or 852.00 won per share.

s of Feb. 26, US$1 was equivalent to 1,240.23 South Korean won.Huvis Corp.

4916181 said its normalized net income for the fourth quarter came to 95.90 South Korean won per share, compared with a loss of 39.80 won per share in the year-earlier period.