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Ottogi Q4 profit falls YOY

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Ottogi Q4 profit falls YOY

Ottogi Corp. said its fourth-quarter normalized net income came to 1,330.75 South Korean won per share, a decrease of 49.0% from 2,608.34 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 4.49 billion won, a decrease of 49.0% from 8.81 billion won in the year-earlier period.

The normalized profit margin declined to 1.0% from 2.0% in the year-earlier period.

Total revenue grew 6.3% year over year to 459.40 billion won from 432.27 billion won, and total operating expenses grew 7.5% on an annual basis to 441.36 billion won from 410.64 billion won.

Reported net income declined 34.9% year over year to 8.78 billion won, or 2,599.01 won per share, from 13.49 billion won, or 3,994.84 won per share.

For the year, the company's normalized net income totaled 24,488.72 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 33,574.40 won.

EPS rose 12.7% from 21,726.96 won in the prior year.

Normalized net income was 82.70 billion won, a rise of 12.7% from 73.37 billion won in the prior year.

Full-year total revenue grew 5.7% on an annual basis to 1.883 trillion won from 1.782 trillion won, and total operating expenses increased 5.0% year over year to 1.750 trillion won from 1.666 trillion won.

The company said reported net income rose 11.4% year over year to 104.46 billion won, or 30,932.03 won per share, in the full year, from 93.77 billion won, or 27,767.01 won per share.

As of March 9, US$1 was equivalent to 1,207.88 South Korean won.