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Duckyang Industry Q4 profit climbs 96.9% YOY

Duckyang Industry Co. Ltd. said its fourth-quarter normalized net income came to 88.78 South Korean won per share, a gain of 91.0% from 46.47 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 2.87 billion won, a gain of 96.9% from 1.46 billion won in the year-earlier period.

The normalized profit margin rose to 0.9% from 0.7% in the year-earlier period.

Total revenue grew 45.7% year over year to 307.51 billion won from 211.07 billion won, and total operating expenses grew 43.7% on an annual basis to 301.28 billion won from 209.72 billion won.

Reported net income grew 51.9% on an annual basis to 3.12 billion won, or 96.28 won per share, from 2.05 billion won, or 65.31 won per share.

For the year, the company's normalized net income totaled 22.69 won per share, a fall of 75.0% from 90.66 won per share in the prior year.

Normalized net income was 734.1 million won, a decline of 74.9% from 2.92 billion won in the prior year.

Full-year total revenue grew 17.8% on an annual basis to 956.71 billion won from 811.90 billion won, and total operating expenses grew 17.5% year over year to 952.40 billion won from 810.41 billion won.

The company said reported net income declined 77.1% on an annual basis to 760.3 million won, or 23.50 won per share, in the full year, from 3.32 billion won, or 103.00 won per share.

As of March 11, US$1 was equivalent to 1,186.10 South Korean won.