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AztechWB swings to profit in Q4

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AztechWB swings to profit in Q4

AztechWB Co. Ltd. said its fourth-quarter normalized net income was 67.73 South Korean won per share, compared with a loss of 52.63 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 1.46 billion won, compared with a loss of 825.1 million won in the year-earlier period.

The normalized profit margin rose to 8.4% from negative 8.2% in the year-earlier period.

Total revenue increased 72.7% year over year to 17.34 billion won from 10.04 billion won, and total operating expenses climbed 39.8% from the prior-year period to 15.74 billion won from 11.26 billion won.

Reported net income totaled 2.19 billion won, or 101.99 won per share, compared to a loss of 1.75 billion won, or a loss of 111.30 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 130.38 won per share, an increase from 50.38 won per share in the prior year.

Normalized net income was 2.80 billion won, a gain from 1.08 billion won in the prior year.

Full-year total revenue grew 9.7% on an annual basis to 52.18 billion won from 47.57 billion won, and total operating expenses grew 5.2% on an annual basis to 48.57 billion won from 46.16 billion won.

The company said reported net income rose 94.8% year over year to 3.80 billion won, or 177.00 won per share, in the full year, from 1.95 billion won, or 91.00 won per share.

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