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Austem Q4 profit falls YOY

Austem Co. Ltd. said its fourth-quarter normalized net income amounted to 101.54 South Korean won per share, a decline of 54.4% from 222.71 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 2.26 billion won, a decline of 58.4% from 5.43 billion won in the prior-year period.

The normalized profit margin fell to 4.1% from 10.4% in the year-earlier period.

Total revenue climbed on an annual basis to 54.81 billion won from 52.43 billion won, and total operating expenses grew on an annual basis to 51.96 billion won from 49.67 billion won.

Reported net income decreased 43.2% year over year to 3.70 billion won, or 165.88 won per share, from 6.50 billion won, or 266.74 won per share.

For the year, the company's normalized net income totaled 301.85 won per share, a decrease of 22.2% from 388.02 won per share in the prior year.

Normalized net income was 7.37 billion won, a decrease of 21.3% from 9.36 billion won in the prior year.

Full-year total revenue decreased year over year to 199.28 billion won from 209.19 billion won, and total operating expenses fell year over year to 190.77 billion won from 200.11 billion won.

The company said reported net income fell 24.1% on an annual basis to 10.42 billion won, or 427.00 won per share, in the full year, from 13.72 billion won, or 569.00 won per share.

As of March 7, US$1 was equivalent to 1,151.60 South Korean won.