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Topfield Co Q4 loss narrows YOY

Topfield Co Ltd. said its normalized net income for the fourth quarter was a loss of 379.10 South Korean won per share, compared with a loss of 1,030.20 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 a loss of 4.82 billion won, compared with a loss of 13.10 billion won in the year-earlier period.

The normalized profit margin was 78.2%.

Total revenue increased 92.3% on an annual basis to 6.16 billion won from 3.20 billion won, and total operating expenses decreased 36.7% year over year to 15.56 billion won from 24.57 billion won.

Reported net income came to a loss of 9.62 billion won, or a loss of 756.45 won per share, compared to a loss of 22.11 billion won, or a loss of 1,738.67 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 375.96 won per share, compared with a loss of 1,907.77 won per share in the prior year.

Normalized net income was a loss of 4.78 billion won, compared with a loss of 24.26 billion won in the prior year.

Full-year total revenue increased 39.6% on an annual basis to 21.69 billion won from 15.54 billion won, and total operating expenses declined 31.1% year over year to 29.58 billion won from 42.96 billion won.

The company said reported net income came to a loss of 9.65 billion won, or a loss of 759.05 won per share, in the full year, compared with a loss of 38.49 billion won, or a loss of 3,026.75 won per share, the prior year.

As of March 14, US$1 was equivalent to 1,188.55 South Korean won.