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Kumho profit holds relatively steady YOY in Q4

Kumho HT Inc. said its fourth-quarter normalized net income was 362.24 South Korean won per share, a decrease from 371.63 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 3.54 billion won, compared with 3.53 billion won in the year-earlier period.

The normalized profit margin dropped to 6.2% from 6.4% in the year-earlier period.

Total revenue increased year over year to 57.33 billion won from 55.42 billion won, and total operating expenses rose 9.8% on an annual basis to 53.88 billion won from 49.06 billion won.

Reported net income decreased 20.4% on an annual basis to 3.62 billion won, or 370.57 won per share, from 4.55 billion won, or 478.93 won per share.

For the year, the company's normalized net income totaled 898.81 won per share, a decrease of 32.0% from 1,322.12 won per share in the prior year.

Normalized net income was 8.78 billion won, a fall of 28.4% from 12.26 billion won in the prior year.

Full-year total revenue increased from the prior-year period to 208.57 billion won from 203.07 billion won, and total operating expenses rose 6.3% year over year to 194.32 billion won from 182.73 billion won.

The company said reported net income fell 38.5% on an annual basis to 9.44 billion won, or 966.96 won per share, in the full year, from 15.35 billion won, or 1,655.00 won per share.

As of March 13, US$1 was equivalent to 1,145.44 South Korean won.