Daegu Department Store Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 13.35 South Korean won per share, a decline of 91.0% from 147.66 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 106.9 million won, a decrease of 92.0% from 1.33 billion won in the year-earlier period.
The normalized profit margin dropped to 0.3% from 3.0% in the year-earlier period.
Total revenue decreased 10.2% year over year to 39.69 billion won from 44.22 billion won, and total operating expenses declined 6.7% from the prior-year period to 38.82 billion won from 41.62 billion won.
Reported net income decreased 84.3% on an annual basis to 255.6 million won, or 31.93 won per share, from 1.63 billion won, or 181.00 won per share.
For the year, the company's normalized net income totaled 165.02 won per share, a decline of 61.8% from 431.91 won per share in the prior year.
Normalized net income was 1.34 billion won, a decline of 65.4% from 3.89 billion won in the prior year.
Full-year total revenue declined 7.6% on an annual basis to 158.15 billion won from 171.07 billion won, and total operating expenses fell 5.4% year over year to 152.88 billion won from 161.57 billion won.
The company said reported net income fell 52.4% on an annual basis to 2.78 billion won, or 340.83 won per share, in the full year, from 5.83 billion won, or 648.00 won per share.
As of June 18, US$1 was equivalent to 1,107.15 South Korean won.
