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J.ESTINA Q4 profit climbs 63.8% YOY

J.ESTINA Co. Ltd. said its normalized net income for the fourth quarter was 126.56 South Korean won per share, an increase of 53.3% from 82.57 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.97 billion won, a gain of 63.8% from 1.20 billion won in the prior-year period.

The normalized profit margin increased to 4.8% from 2.8% in the year-earlier period.

Total revenue fell 5.3% year over year to 40.88 billion won from 43.18 billion won, and total operating expenses decreased on an annual basis to 40.65 billion won from 41.22 billion won.

Reported net income came to a loss of 472.3 million won, or a loss of 30.40 won per share, compared to income of 1.67 billion won, or 114.78 won per share, in the prior-year period.

For the year, the company's normalized net income totaled 220.79 won per share, an increase of 25.6% from 175.74 won per share in the prior year.

Normalized net income was 3.40 billion won, a gain of 23.7% from 2.75 billion won in the prior year.

Full-year total revenue grew 9.6% on an annual basis to 170.25 billion won from 155.35 billion won, and total operating expenses increased 8.2% year over year to 163.61 billion won from 151.21 billion won.

The company said reported net income increased 6.3% on an annual basis to 3.42 billion won, or 222.44 won per share, in the full year, from 3.22 billion won, or 206.00 won per share.

As of March 14, US$1 was equivalent to 1,149.76 South Korean won.