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Modetour Network Q4 profit climbs YOY

Modetour Network Inc. said its fourth-quarter normalized net income came to 254.69 South Korean won per share, a gain from 66.36 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 4.51 billion won, a gain from 1.21 billion won in the year-earlier period.

The normalized profit margin climbed to 7.6% from 2.3% in the year-earlier period.

Total revenue increased 11.6% on an annual basis to 59.06 billion won from 52.91 billion won, and total operating expenses grew 7.4% year over year to 55.60 billion won from 51.79 billion won.

Reported net income rose year over year to 2.85 billion won, or 161.07 won per share, from 286.3 million won, or 15.71 won per share.

For the year, the company's normalized net income totaled 950.63 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 864.77 won.

EPS rose 49.7% from 634.86 won in the prior year.

Normalized net income was 17.05 billion won, a gain of 46.5% from 11.63 billion won in the prior year.

Full-year total revenue grew 16.0% from the prior-year period to 237.08 billion won from 204.32 billion won, and total operating expenses increased 15.3% on an annual basis to 217.25 billion won from 188.46 billion won.

The company said reported net income grew 26.6% on an annual basis to 16.76 billion won, or 934.82 won per share, in the full year, from 13.24 billion won, or 722.46 won per share.

As of March 16, US$1 was equivalent to 1,126.74 South Korean won.