Kukbo Design Co. Ltd. said its fourth-quarter normalized net income amounted to 316.75 South Korean won per share, a decline of 41.7% from 543.39 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 2.31 billion won, a decrease of 43.2% from 4.07 billion won in the prior-year period.

The normalized profit margin fell to 3.3% from 7.7% in the year-earlier period.

Total revenue increased 31.7% year over year to 69.41 billion won from 52.73 billion won, and total operating expenses grew 46.6% year over year to 68.01 billion won from 46.38 billion won.

Reported net income declined 20.3% from the prior-year period to 3.63 billion won, or 496.67 won per share, from 4.55 billion won, or 607.36 won per share.

For the year, the company's normalized net income totaled 1,134.78 won per share, a fall of 5.1% from 1,195.88 won per share in the prior year.

Normalized net income was 8.33 billion won, a decline of 7.1% from 8.97 billion won in the prior year.

Full-year total revenue grew year over year to 201.41 billion won from 192.61 billion won, and total operating expenses grew 5.9% on an annual basis to 190.74 billion won from 180.08 billion won.

The company said reported net income totaled 10.74 billion won, or 1,463.23 won per share, in the full year, compared with 10.77 billion won, or 1,436.00 won per share, the prior year.

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