Hyosung Advanced Materials Q4 net income down 92.6 pct to 5.6 bln won

Hyosung Advanced Materials-Q4 earnings

Hyosung Advanced Materials Q4 net income down 92.6 pct to 5.6 bln won

SEOUL, Feb. 1 (Yonhap) -- Hyosung Advanced Materials Corp. on Wednesday reported its fourth-quarter net income of 5.6 billion won (US$4.5 million), down 92.6 percent from a year earlier.

The company said in a regulatory filing that operating income for the October-December period fell 48.3 percent on-year to 49.8 billion won. Sales decreased 15.3 percent to 837.9 billion won.

The operating profit was 7.4 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

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