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Namyeung Vivien Q4 loss narrows YOY

Namyeung Vivien Corp. said its normalized net income for the fourth quarter amounted to a loss of 21.76 South Korean won per share, compared with a loss of 553.59 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 a loss of 140.9 million won, compared with a loss of 3.59 billion won in the prior-year period.

The normalized profit margin climbed to negative 0.3% from negative 8.2% in the year-earlier period.

Total revenue increased 12.6% year over year to 49.53 billion won from 43.99 billion won, and total operating expenses rose 6.7% from the prior-year period to 49.89 billion won from 46.77 billion won.

Reported net income came to 73.7 million won, or 11.38 won per share, compared to a loss of 5.94 billion won, or a loss of 916.20 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 251.95 won per share, compared with a loss of 1,014.81 won per share in the prior year.

Normalized net income was a loss of 1.63 billion won, compared with a loss of 6.58 billion won in the prior year.

Full-year total revenue fell year over year to 198.08 billion won from 200.32 billion won, and total operating expenses decreased on an annual basis to 200.21 billion won from 207.91 billion won.

The company said reported net income totaled a loss of 2.35 billion won, or a loss of 362.28 won per share, in the full year, compared with income of 6.95 billion won, or 1,073.00 won per share, the prior year.

As of March 16, US$1 was equivalent to 1,126.74 South Korean won.