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Savezone I&C Q4 profit falls YOY

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Savezone I&C Q4 profit falls YOY

Savezone I&C Corp. said its normalized net income for the fourth quarter came to 160.59 South Korean won per share, a decrease from 164.19 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 6.06 billion won, a decrease from 6.19 billion won in the year-earlier period.

The normalized profit margin dropped to 12.6% from 12.9% in the year-earlier period.

Total revenue came to 48.12 billion won, compared with 47.85 billion won in the prior-year period, and total operating expenses increased on an annual basis to 38.03 billion won from 37.44 billion won.

Reported net income totaled 7.42 billion won, or 196.47 won per share, compared to 7.47 billion won, or 198.04 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 559.47 won per share, a gain from 552.21 won per share in the prior year.

Normalized net income was 21.13 billion won, an increase from 20.85 billion won in the prior year.

Full-year total revenue grew on an annual basis to 187.04 billion won from 182.14 billion won, and total operating expenses increased on an annual basis to 151.58 billion won from 146.25 billion won.

The company said reported net income increased on an annual basis to 25.73 billion won, or 681.28 won per share, in the full year, from 25.18 billion won, or 667.00 won per share.

As of March 10, US$1 was equivalent to 1,203.54 South Korean won.