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Hankook Cosmetics Manufacturing swings to profit in Q4

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Hankook Cosmetics Manufacturing swings to profit in Q4

Hankook Cosmetics Manufacturing Co. Ltd. said its normalized net income for the fourth quarter came to 238.28 South Korean won per share, compared with a loss of 647.35 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 863.8 million won, compared with a loss of 2.35 billion won in the year-earlier period.

The normalized profit margin climbed to 6.8% from negative 26.5% in the year-earlier period.

Total revenue climbed 42.9% on an annual basis to 12.63 billion won from 8.84 billion won, and total operating expenses rose 26.7% year over year to 11.19 billion won from 8.83 billion won.

Reported net income came to 1.25 billion won, or 344.14 won per share, compared to a loss of 3.18 billion won, or a loss of 876.58 won per share, in the prior-year period.

For the year, the company's normalized net income totaled 503.03 won per share, a fall of 59.6% from 1,245.95 won per share in the prior year.

Normalized net income was 1.82 billion won, a decrease of 59.6% from 4.52 billion won in the prior year.

Full-year total revenue grew 28.3% year over year to 45.48 billion won from 35.46 billion won, and total operating expenses rose 21.5% on an annual basis to 40.63 billion won from 33.46 billion won.

The company said reported net income decreased 74.6% on an annual basis to 1.99 billion won, or 547.62 won per share, in the full year, from 7.81 billion won, or 2,154.00 won per share.

As of Feb. 29, US$1 was equivalent to 1,241.88 South Korean won.