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S&C Engine Group Q4 profit falls YOY

S&C Engine Group Ltd said its fourth-quarter normalized net income amounted to 36.09 South Korean won per share, a decrease of 69.9% from 119.97 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 2.46 billion won, a decrease of 69.5% from 8.04 billion won in the prior-year period.

The normalized profit margin dropped to 5.8% from 17.1% in the year-earlier period.

Total revenue fell 9.2% year over year to 42.71 billion won from 47.04 billion won, and total operating expenses fell from the prior-year period to 35.90 billion won from 37.04 billion won.

Reported net income grew 52.8% year over year to 7.47 billion won, or 109.83 won per share, from 4.89 billion won, or 72.97 won per share.

For the year, the company's normalized net income totaled 184.20 won per share, a decrease of 36.9% from 291.88 won per share in the prior year.

Normalized net income was 17.69 billion won, a fall of 35.7% from 27.49 billion won in the prior year.

Full-year total revenue declined 15.1% on an annual basis to 167.63 billion won from 197.37 billion won, and total operating expenses decreased 12.1% year over year to 135.19 billion won from 153.84 billion won.

The company said reported net income fell 5.2% year over year to 27.94 billion won, or 291.00 won per share, in the full year, from 29.48 billion won, or 313.00 won per share.

As of April 28, US$1 was equivalent to 1,139.32 South Korean won.