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J.ESTINA Q4 profit falls YOY

J.ESTINA Co. Ltd. said its normalized net income for the fourth quarter came to 90.90 South Korean won per share, a decline of 24.3% from 120.10 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 1.20 billion won, a decline of 35.1% from 1.85 billion won in the year-earlier period.

The normalized profit margin fell to 2.8% from 4.3% in the year-earlier period.

Total revenue totaled 43.18 billion won, compared with 43.15 billion won in the year-earlier period, and total operating expenses climbed on an annual basis to 41.22 billion won from 40.33 billion won.

Reported net income decreased 29.1% year over year to 1.67 billion won, or 126.37 won per share, from 2.35 billion won, or 152.89 won per share.

For the year, the company's normalized net income totaled 175.26 won per share, a decline of 61.5% from 455.75 won per share in the prior year.

Normalized net income was 2.75 billion won, a decline of 60.2% from 6.91 billion won in the prior year.

Full-year total revenue decreased on an annual basis to 155.35 billion won from 158.61 billion won, and total operating expenses grew on an annual basis to 151.21 billion won from 148.63 billion won.

The company said reported net income decreased 64.0% on an annual basis to 3.22 billion won, or 205.44 won per share, in the full year, from 8.96 billion won, or 591.00 won per share.

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