It'S Hanbul Co. Ltd. said its normalized net income for the fourth quarter amounted to 624.07 South Korean won per share, a decrease of 53.6% from 1,346.28 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 10.74 billion won, a decline of 49.9% from 21.44 billion won in the prior-year period.

The normalized profit margin dropped to 16.6% from 25.5% in the year-earlier period.

Total revenue fell 23.0% on an annual basis to 64.85 billion won from 84.23 billion won, and total operating expenses declined year over year to 49.25 billion won from 50.62 billion won.

Reported net income fell 42.8% on an annual basis to 12.35 billion won, or 717.81 won per share, from 21.59 billion won, or 1,355.55 won per share.

For the year, the company's normalized net income totaled 2,836.10 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 3,833.67 won.

EPS declined 38.3% from 4,593.77 won in the prior year.

Normalized net income was 49.30 billion won, a decline of 31.4% from 71.86 billion won in the prior year.

Full-year total revenue decreased 13.6% from the prior-year period to 267.34 billion won from 309.56 billion won, and total operating expenses fell on an annual basis to 194.05 billion won from 197.81 billion won.

The company said reported net income declined 30.3% year over year to 58.35 billion won, or 3,356.69 won per share, in the full year, from 83.67 billion won, or 5,349.00 won per share.

As of March 31, US$1 was equivalent to 1,118.06 South Korean won.