MIRA INFORM REPORT

 

 

Report Date :           

08.08.2011

 

 

 

Fax No.:

82 2 307 2389

 

IDENTIFICATION DETAILS

 

Name :

BUKWANG PHARMACEUTICAL CO., LTD.

 

 

Registered Office :

398-1 Dehbahng-Dong, Dongjahk-Gu, Seoul, 156-811

 

 

Country :

South Korea

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

17.10.1960

 

 

Legal Form :

Public Independent

 

 

Line of Business :

Manufacturer of pharmaceutical products

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

South Korea

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

Company name & address  

 

Bukwang Pharmaceutical Co., Ltd.

 

398-1 Dehbahng-Dong

Dongjahk-Gu

Seoul, 156-811

Korea, Republic of

 

Tel:       82-2-8288114

Fax:      82-2-8288129

 

 Web:   www.bukwang.co.kr

 

 

synthesis  

 

Employees:                  569

Company Type:            Public Independent

Traded:

Korea Stock Exchange:  003000

Incorporation Date:         17-Oct-1960

Auditor:                        Deloitte & Touche LLP   

Financials in:                 USD (Millions)

Fiscal Year End:            31-Mar-2010

Reporting Currency:       South Korean Won

Annual Sales:               141.2  1

Net Income:                   23.0

Total Assets:                221.4  2

Market Value:               344.5

(22-Jul-2011)

 

 

Business Description     

 

Bukwang Pharm.Co.,Ltd. is a Korea-based manufacturer of pharmaceutical products. The Company offers a range of products, including antidiabetic agents, liver disorder remedies, gastrointestinal agents, respiratory agents, cardiovascular agents, antihistamines, neuropsychotherapeutic agents, antineoplastic agents, thyroid preparations, obstetric and gynecologic agents, skin mucous membrane agents, urinary tract agent, mouth and throat products, sedative, hypnotics, calcium supplements, antidotes, cold and cough preparations, anemia preparations, analgesics, anti-inflammatory agents, antirheumatic agents, vitamines, blood modifiers, motion sickness products and others. In addition, the Company operates a research and development center. As of December 31, 2010, the Company had one affiliated company. For the fiscal year ended 31 March 2010, Bukwang Pharmaceutical Co., Ltd.'s sales totaled W170.81B. The Company's net income totaled W27.87B. Sales and net income are not comparable due to the reason that the Company disclosed non-consolidated financial in FY'10 while previous period was updated with consolidated financials. Bukwang Pharmaceutical Co., Ltd. is a Korea-based manufacturer and distributor pharmaceutical products.

Industry

Industry            Biotechnology and Drugs

ANZSIC 2006:    1841 - Human Pharmaceutical and Medicinal Product Manufacturing

NACE 2002:      2441 - Manufacture of basic pharmaceutical products

NAICS 2002:     325411 - Medicinal and Botanical Manufacturing

UK SIC 2003:    2441 - Manufacture of basic pharmaceutical products

US SIC 1987:    2833 - Medicinal Chemicals and Botanical Products

 

           

Key Executives   

 

Name

Title

Seong Gu Lee

President, Chief Executive Officer, Director

Sung Koo Lee

President & Chief Executive Officer

Kwang Sup Joo

Director-Accounting

Byeong Yun Hwang

Co-Managing Director

Chang Hwi Koo

Vice President-Research & Development

 

 

Significant Developments  

 

Topic

#*

Most Recent Headline

Date

Share Repurchases

2

Bukwang Pharmaceutical Co., Ltd. Announces Completion of Share Repurchase

8-Dec-2010

Dividends

1

Bukwang Pharmaceutical Co., Ltd. Declares Annual Cash Dividend for FY 2010

11-May-2011

* number of significant developments within the last 12 months

 

 

 

Financial Summary

 

As of 31-Mar-2010

Key Ratios

Company

Industry

Current Ratio (MRQ)

3.60

2.09

Quick Ratio (MRQ)

2.77

1.48

Debt to Equity (MRQ)

0.0000

0.43

Sales 5 Year Growth

8.59

4.13

Net Profit Margin (TTM) %

21.12

17.06

Return on Assets (TTM) %

18.26

9.59

Return on Equity (TTM) %

22.63

18.98

 

 

Stock Snapshot  

 

 

Traded: Korea Stock Exchange: 003000

 

As of 22-Jul-2011

   Financials in: KRW

Recent Price

13,400.00

 

EPS

1,077.30

52 Week High

14,600.00

 

Price/Sales

2.12

52 Week Low

10,650.00

 

Dividend Rate

500.00

Avg. Volume (mil)

0.13

 

Price/Earnings

25.19

Market Value (mil)

362,406.00

 

Price/Book

1.84

 

 

 

Beta

0.90

 

Price % Change

Rel S&P 500%

4 Week

11.67%

7.53%

13 Week

7.20%

8.51%

52 Week

3.08%

-17.60%

Year to Date

0.37%

-5.19%

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1209.856 
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1131.45

 

 

Corporate Overview

 

Location

398-1 Dehbahng-Dong

Dongjahk-Gu

Seoul, 156-811

Korea, Republic of

Tel:       82-2-8288114

Fax:      82-2-8288129

Web:    www.bukwang.co.kr

           

Quote Symbol - Exchange

003000 - Korea Stock Exchange

Sales KRW(mil):            170,810.0

Assets KRW(mil):          250,541.2

Employees:                   569

Fiscal Year End:            31-Mar-2010

Industry:                        Biotechnology and Drugs

Incorporation Date:         17-Oct-1960

Company Type:             Public Independent

Quoted Status:              Quoted

President, Chief

Executive Officer, Director: Seong Gu Lee

 

Company Web Links

·         Corporate History/Profile

·         Executives

·         Financial Information

·         Home Page

·         News Releases

·         Products/Services

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Market Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1841     -          Human Pharmaceutical and Medicinal Product Manufacturing

6910     -          Scientific Research Services

 

NACE 2002 Codes:

2442     -          Manufacture of pharmaceutical preparations

7310     -          Research and experimental development on natural sciences and engineering

2441     -          Manufacture of basic pharmaceutical products

 

NAICS 2002 Codes:

325412  -          Pharmaceutical Preparation Manufacturing

541710  -          Research and Development in the Physical, Engineering, and Life Sciences

325411  -          Medicinal and Botanical Manufacturing

 

US SIC 1987:

2833     -          Medicinal Chemicals and Botanical Products

2834     -          Pharmaceutical Preparations

8731     -          Commercial Physical and Biological Research

 

UK SIC 2003:

2441     -          Manufacture of basic pharmaceutical products

24421   -          Manufacture of medicaments

7310     -          Research and experimental development on natural sciences and engineering

 

Business Description

Bukwang Pharm.Co.,Ltd. is a Korea-based manufacturer of pharmaceutical products. The Company offers a range of products, including antidiabetic agents, liver disorder remedies, gastrointestinal agents, respiratory agents, cardiovascular agents, antihistamines, neuropsychotherapeutic agents, antineoplastic agents, thyroid preparations, obstetric and gynecologic agents, skin mucous membrane agents, urinary tract agent, mouth and throat products, sedative, hypnotics, calcium supplements, antidotes, cold and cough preparations, anemia preparations, analgesics, anti-inflammatory agents, antirheumatic agents, vitamines, blood modifiers, motion sickness products and others. In addition, the Company operates a research and development center. As of December 31, 2010, the Company had one affiliated company. For the fiscal year ended 31 March 2010, Bukwang Pharmaceutical Co., Ltd.'s sales totaled W170.81B. The Company's net income totaled W27.87B. Sales and net income are not comparable due to the reason that the Company disclosed non-consolidated financial in FY'10 while previous period was updated with consolidated financials. Bukwang Pharmaceutical Co., Ltd. is a Korea-based manufacturer and distributor pharmaceutical products.

 

More Business Descriptions

·         Manufacture of pharmaceuticals, remedies and medicines

·         Drugs

·         Pharmaceutical and Medicine Manufacturing

 

 

Financial Data

Financials in:

KRW(mil)

 

Sale:

170,810.0

Net Income:

27,873.1

Assets:

250,541.2

Long Term Debt:

30,000.0

 

Total Liabilities:

58,738.6

 

Working Capital:

136.3

 

 

 

Date of Financial Data:

31-Mar-2010

 

1 Year Growth

5.7%

-9.7%

8.7%

 

 

Market Data

Quote Symbol:

003000

Exchange:

Korea Stock Exchange

Currency:

KRW

Stock Price:

13,400.0

Stock Price Date:

07-22-2011

52 Week Price Change %:

3.1

Market Value (mil):

362,406,016.0

 

SEDOL:

6123268

ISIN:

KR7003000007

 

 

Equity and Dept Distribution:

'97~'07 financials reflect non-consolidated. '08~'09 are consolidated. 09/2004, Scrip Issue, 0.100008 new shares for every 1 share held. 03/2007, 5% stock dividend. 06/07 is reclassified. '03/08, stock dividend(Factor: 1.0499999). FY'10 financial reflect non-consolidated data.

Key Corporate Relationships

·         Auditor:       Deloitte & Touche LLP

·         Auditor:       Deloitte & Touche LLP

 

 

Executives Report

 

 

 

 

Board of Directors

 

Name

Title

Function

 

Dong Yeon Kim

 

Chairman of the Board

Chairman

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Kim Dong Yeon is Chairman of the Board of Bukwang Pharmaceutical Co., Ltd. Kim used to be Director of the Company. Kim holds a Bachelor's degree in Chemical Engineering from Hanyang University, Korea.



B Chemical Engineering, Hanyang University

Chang Su Jung

 

Vice Chairman of the Board

Vice-Chairman

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Jung Chang Su is Vice Chairman of the Board of Bukwang Pharmaceutical Co., Ltd. Jung used to be Director of the Company. Jung received a Bachelor of Law and a Master's degree in Law from Korea University.



M Law, Korea University
LLB , Korea University

Sam Mun Cho

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Cho Sam Mun has been Non-Executive Independent Director of Bukwang Pharmaceutical Co., Ltd. since May 29, 2009. Currently, Cho is a certified public accountant of NEXIA-SAMDUK. Previously, Cho served as Internal Auditor of Hansei University, Korea, and also worked for Korea Foundation. Cho holds a Bachelor's degree in Commerce from Pusan National University, Korea and a Master's degree in Business Administration from Kyung Hee University, Korea.



M Business Administration, Kyung Hee University
B Commerce, Pusan National University

Sang Hun Kim

 

Managing Director

Director/Board Member

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Kim Sang Hun is Managing Director of Bukwang Pharmaceutical Co., Ltd. Kim is also Director of Anterogen co., Ltd. Prior to the current position, Kim was Assistant Managing Director of the Company. Kim received a Bachelor's degree in Economics from Boston University, the United States, and another Bachelor's degree in Chemical Engineering from Sogang University, Korea.



B , Sogang University
B Economics, Boston University

Chung Ho Kim

 

Director

Director/Board Member

 

 

Tae Hyeon Kim

 

Vice President, Director

Director/Board Member

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Kim Tae Hyeon is Vice President and Director of Bukwang Pharmaceutical Co., Ltd. Prior to the current position, Kim served as Managing Director of the Company. Kim received a Bachelor's degree in Pharmaceuticals from Seoul National University, Korea.



B Pharmaceuticals, Seoul National University

Seong Gu Lee

 

President, Chief Executive Officer, Director

Director/Board Member

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Lee Seong Gu is President, Chief Executive Officer and Director of Bukwang Pharmaceutical Co., Ltd. Lee is currently Chief Executive Officer of ANTEROGEN CO., LTD. Previously, Lee was Managing Director of the Company. Lee holds a Bachelor's degree and a Master's degree in Pharmacy from Seoul National University, Korea.



M Pharmacy, Seoul National University
B Pharmacy, Seoul National University

Won Tae Park

 

Assistant Managing Director

Director/Board Member

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Park Won Tae is Assistant Managing Director of Bukwang Pharmaceutical Co., Ltd. Park used to be a team leader of the operation management team and Director of the Company. Park received a Bachelor's degree in Political Science from Konkuk University, Korea



B Political Science, Konkuk University

Chul Ho Rim

 

Director

Director/Board Member

 

 

In Myoung Yeo

 

Director

Director/Board Member

 

 

Chun Taek Yim

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Yim Chun Taek has been serving as Non-Executive Independent Director of Bukwang Pharmaceutical Co., Ltd. since May 28, 2010. Yim currently also serves as a representative lawyer in a Korea-based law firm. Yim holds a Bachelor's degree in Law from Korea University.



LLB , Korea University

 

Executives

 

Name

Title

Function

 

Sung Koo Lee

 

President & Chief Executive Officer

Chief Executive Officer

 

Seong Gu Lee

 

President, Chief Executive Officer, Director

Chief Executive Officer

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Lee Seong Gu is President, Chief Executive Officer and Director of Bukwang Pharmaceutical Co., Ltd. Lee is currently Chief Executive Officer of ANTEROGEN CO., LTD. Previously, Lee was Managing Director of the Company. Lee holds a Bachelor's degree and a Master's degree in Pharmacy from Seoul National University, Korea.



M Pharmacy, Seoul National University
B Pharmacy, Seoul National University

Geum Seo Gu

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Gu Geum Seo is Assistant Managing Director of Bukwang Pharmaceutical Co., Ltd. Gu used to be a team leader of the operation team of the Company. Gu holds a Bachelor's degree in Biology from Inha University, Korea.



B Biology, Inha University

Yin Ha Hwang

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Hwang Yin Ha is Assistant Managing Director of Bukwang Pharmaceutical Co., Ltd. Hwang used to be a team leader of the operation management team of the Company. Hwang received a Bachelor's degree in Chemical Engineering from Sungkyunkwan University, Korea.



B Chemical Engineering, Sungkyunkwan University

Byeong Yun Hwang

 

Co-Managing Director

Managing Director

 

 

Sang Hun Kim

 

Managing Director

Managing Director

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Kim Sang Hun is Managing Director of Bukwang Pharmaceutical Co., Ltd. Kim is also Director of Anterogen co., Ltd. Prior to the current position, Kim was Assistant Managing Director of the Company. Kim received a Bachelor's degree in Economics from Boston University, the United States, and another Bachelor's degree in Chemical Engineering from Sogang University, Korea.



B , Sogang University
B Economics, Boston University

Bi Ryong Kim

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Kim Bi Ryong is Assistant Managing Director of Bukwang Pharmaceutical Co., Ltd. Kim used to be a team leader of the special business team of the Company. Kim received a Bachelor's degree in Business Administration from Soongsil University, Korea.



B Business Administration, Soongsil University

Hui Sang Lee

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Lee Hui Sang is Assistant Managing Director of Bukwang Pharmaceutical Co., Ltd. Lee was Head of the production division of the Company. Lee received a Bachelor's degree in Pharmacy from Chung-Ang University, Korea.



B Pharmacy, Chung-Ang University

Yeong Chun Lee

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Lee Yeong Chun is Assistant Managing Director of Bukwang Pharmaceutical Co., Ltd. Prior to joining of the Company, Lee was a team leader of the research team of KOLON CHEMICAL CO.,LTD. Lee received a Bachelor's along with a Master's degrees in Pharmacy from Seoul National University, Korea.



M Pharmacy, Seoul National University
B Pharmacy, Seoul National University

Seung Gyu Namgoong

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Namgoong Seung Gyu is Assistant Managing Director of Bukwang Pharmaceutical Co., Ltd. Namgoong used to be a team leader of the operation team of the Company. Namgoong holds a Bachelor's degree in Agricultural Science from Kangwon National University, Korea.



B Agricultural Science, Kangwon National University

Won Tae Park

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Park Won Tae is Assistant Managing Director of Bukwang Pharmaceutical Co., Ltd. Park used to be a team leader of the operation management team and Director of the Company. Park received a Bachelor's degree in Political Science from Konkuk University, Korea



B Political Science, Konkuk University

Hui Won Yoo

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Bukwang Pharmaceutical Co., Ltd.)

Yoo Hui Won is Assistant Managing Director of Bukwang Pharmaceutical Co., Ltd. Yoo was a team leader of the cinicial trial team of the Company. Yoon received a Bachelor's and a Master's degrees in Pharmacy from Ewha Womans University, Korea.



M Pharmacy, Ewha Womans University
B Pharmacy, Ewha Womans University

Yong Hi Chung

 

Co-Auditor

Finance Executive

 

 

Kwang Sup Joo

 

Director-Accounting

Finance Executive

 

 

Jong Young Lee

 

Co-Auditor

Finance Executive

 

 

Chang Hwi Koo

 

Vice President-Research & Development

Research & Development Executive

 

 

 

 

Significant Developments

 

Bukwang Pharmaceutical Co., Ltd. Declares Annual Cash Dividend for FY 2010 May 11, 2011

 

Bukwang Pharmaceutical Co., Ltd. announced that it has declared an annual cash dividend of KRW 500 per share of common stock to shareholders of record on March 31, 2011, for the fiscal year 2011. The dividend rate of market price is 3.89% and the total amount of the cash dividend is KRW 12,993,754,000.

 

Bukwang Pharmaceutical Co., Ltd. Announces Completion of Share Repurchase

Dec 08, 2010

 

Bukwang Pharmaceutical Co., Ltd. announced that it has completed the share repurchase, initially announced on November 8, 2010. The company repurchased 400,000 common shares during the period from November 11, 2010 to December 6, 2010. The aggregate value of shares repurchased was KRW 5,034,818,600.

 

Bukwang Pharmaceutical Co., Ltd. Announces Share Repurchase Nov 08, 2010

 

Bukwang Pharmaceutical Co., Ltd. announced that its Board of Directors has authorized the Company to repurchase 400,000 shares of its common stock, worth KRW 5 billion, to stabilize its share price and improve corporation value. The authorization allows the repurchase of shares from November 9, 2010 to February 8, 2011.

 

 

 

Annual Income Statement

 

Financials in: USD (mil)          

Except for share items (millions) and per share items (actual units)   

 

 

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Updated Normal 
31-Mar-2007

Updated Normal 
31-Mar-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1209.855603

1214.015574

933.271038

945.639003

1012.786749

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Sahmduk Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

141.2

133.1

166.8

145.4

124.8

Sale

141.2

133.1

166.8

145.4

124.8

Total Sale

141.2

133.1

166.8

145.4

124.8

 

 

 

 

 

 

    Cost of Sale

60.1

53.8

63.1

63.7

59.4

Cost of Sale, Total

60.1

53.8

63.1

63.7

59.4

Gross Profit

81.1

79.3

103.7

81.7

65.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

15.9

12.8

14.6

12.7

9.2

    Labor & Related Expense

22.8

20.8

26.2

25.7

22.0

    Advertising Expense

5.2

7.9

10.3

10.6

6.8

Total Selling/General/Administrative Expenses

43.9

41.5

51.2

49.0

38.0

Research & Development

3.7

3.9

4.6

3.0

5.8

    Depreciation

0.9

0.9

1.7

1.4

1.1

    Amortization of Intangibles

0.3

0.7

0.8

0.2

0.1

Depreciation/Amortization

1.2

1.6

2.5

1.6

1.1

Total Operating Expense

108.9

100.8

121.3

117.4

104.4

 

 

 

 

 

 

Operating Income

32.3

32.3

45.5

28.0

20.4

 

 

 

 

 

 

        Interest Expense - Non-Operating

-1.9

-1.3

0.0

-

-0.1

    Interest Expense, Net Non-Operating

-1.9

-1.3

0.0

-

-0.1

        Interest Income - Non-Operating

0.8

1.7

3.0

1.3

0.8

        Investment Income - Non-Operating

0.1

0.3

-0.2

-0.2

0.0

    Interest/Investment Income - Non-Operating

0.9

2.0

2.8

1.1

0.8

Interest Income (Expense) - Net Non-Operating Total

-1.0

0.6

2.8

1.1

0.7

Gain (Loss) on Sale of Assets

-0.6

-0.1

0.4

0.4

0.0

    Other Non-Operating Income (Expense)

-0.2

-0.3

0.3

-0.3

0.1

Other, Net

-0.2

-0.3

0.3

-0.3

0.1

Income Before Tax

30.5

32.6

49.0

29.2

21.2

 

 

 

 

 

 

Total Income Tax

7.4

7.4

13.6

8.6

5.1

Income After Tax

23.0

25.2

35.4

20.7

16.1

 

 

 

 

 

 

    Minority Interest

-

0.2

-0.2

-

-

Net Income Before Extraord Items

23.0

25.4

35.2

20.7

16.1

Net Income

23.0

25.4

35.2

20.7

16.1

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

23.0

25.4

35.2

20.7

16.1

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

23.0

25.4

35.2

20.7

16.1

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

26.4

26.3

26.6

24.9

26.2

Basic EPS Excl Extraord Items

0.87

0.97

1.32

0.83

0.61

Basic/Primary EPS Incl Extraord Items

0.87

0.97

1.32

0.83

0.61

Diluted Net Income

23.0

25.4

35.2

20.7

16.1

Diluted Weighted Average Shares

26.4

26.3

26.6

24.9

26.2

Diluted EPS Excl Extraord Items

0.87

0.97

1.32

0.83

0.61

Diluted EPS Incl Extraord Items

0.87

0.97

1.32

0.83

0.61

Dividends per Share - Common Stock Primary Issue

0.41

0.25

0.43

0.30

0.18

Gross Dividends - Common Stock

10.9

6.5

11.0

7.5

4.7

Interest Expense, Supplemental

1.9

1.3

0.0

-

0.1

Depreciation, Supplemental

2.2

3.0

3.9

3.5

3.4

Total Special Items

0.6

0.2

-0.4

-0.4

0.0

Normalized Income Before Tax

31.1

32.8

48.6

28.9

21.2

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.1

0.0

-0.1

-0.1

0.0

Inc Tax Ex Impact of Sp Items

7.6

7.4

13.5

8.4

5.1

Normalized Income After Tax

23.5

25.4

35.1

20.4

16.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

23.5

25.6

34.9

20.4

16.1

 

 

 

 

 

 

Basic Normalized EPS

0.89

0.98

1.31

0.82

0.61

Diluted Normalized EPS

0.89

0.98

1.31

0.82

0.61

Amort of Acquisition Costs, Supplemental

-

0.2

-

-

-

Amort of Intangibles, Supplemental

0.3

0.5

0.8

0.2

0.1

Rental Expenses

0.4

0.3

0.3

0.2

0.2

Advertising Expense, Supplemental

5.2

7.9

10.3

10.6

6.8

Research & Development Exp, Supplemental

6.8

8.9

4.6

3.0

5.8

Normalized EBIT

32.3

32.3

45.5

28.0

20.4

Normalized EBITDA

34.8

36.0

50.2

31.7

23.9

 

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

UpdateType/Date

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Updated Normal 
31-Mar-2007

Restated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1131.45

1383.25

990.35

940.6

971.65

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Sahmduk Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

22.4

14.3

31.4

39.7

25.8

    Short Term Investments

4.7

8.4

28.5

0.3

0.2

Cash and Short Term Investments

27.1

22.7

59.9

39.9

26.0

        Accounts Receivable - Trade, Gross

79.8

51.8

56.4

49.4

43.5

        Provision for Doubtful Accounts

-1.1

-0.5

-0.6

-0.5

-0.4

    Trade Accounts Receivable - Net

78.9

51.6

56.2

49.0

43.1

    Other Receivables

0.6

0.8

0.2

0.3

0.0

Total Receivables, Net

79.5

52.4

56.4

49.3

43.2

    Inventories - Finished Goods

17.1

16.0

11.9

8.0

7.1

    Inventories - Work In Progress

5.5

3.7

6.1

2.9

3.3

    Inventories - Raw Materials

10.3

6.8

15.6

9.4

9.9

    Inventories - Other

1.3

0.5

0.7

0.3

2.6

Total Inventory

34.1

27.0

34.4

20.5

23.0

Prepaid Expenses

0.3

0.3

0.3

0.1

0.1

    Deferred Income Tax - Current Asset

0.1

-

-

0.1

0.1

Other Current Assets, Total

0.1

-

-

0.1

0.1

Total Current Assets

141.1

102.4

151.0

109.9

92.4

 

 

 

 

 

 

        Buildings

18.1

15.4

20.8

20.5

19.7

        Land/Improvements

13.6

11.4

16.0

16.3

15.8

        Machinery/Equipment

17.8

14.9

20.9

21.5

19.5

        Construction in Progress

36.6

28.8

17.1

0.4

0.0

    Property/Plant/Equipment - Gross

86.1

70.5

74.9

58.7

55.0

    Accumulated Depreciation

-20.5

-17.6

-22.3

-22.8

-20.3

Property/Plant/Equipment - Net

65.6

52.9

52.6

35.9

34.7

Goodwill, Net

-

0.6

1.0

-

-

Intangibles, Net

7.5

6.3

6.1

3.6

2.7

    LT Investment - Affiliate Companies

2.6

-

-

3.9

2.4

    LT Investments - Other

2.8

2.3

3.1

3.1

2.5

Long Term Investments

5.4

2.3

3.1

7.1

4.9

Note Receivable - Long Term

-

-

0.1

-

0.0

    Deferred Income Tax - Long Term Asset

-

0.7

0.8

0.8

0.7

    Other Long Term Assets

1.7

1.6

2.4

1.6

1.1

Other Long Term Assets, Total

1.7

2.2

3.2

2.4

1.8

Total Assets

221.4

166.7

217.1

158.9

136.5

 

 

 

 

 

 

Accounts Payable

6.6

3.7

7.3

5.3

8.6

Accrued Expenses

2.4

2.3

1.6

2.7

2.1

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

0.0

    Customer Advances

0.0

0.0

0.0

0.0

0.0

    Security Deposits

1.8

1.4

1.5

1.7

1.4

    Income Taxes Payable

3.2

3.4

13.6

5.9

3.2

    Other Payables

6.2

5.3

16.9

6.8

4.8

    Deferred Income Tax - Current Liability

-

0.0

0.0

-

-

    Other Current Liabilities

0.5

0.4

0.6

0.7

0.5

Other Current liabilities, Total

11.7

10.4

32.7

15.1

9.9

Total Current Liabilities

20.7

16.4

41.6

23.2

20.6

 

 

 

 

 

 

    Long Term Debt

26.5

21.7

-

-

-

Total Long Term Debt

26.5

21.7

0.0

0.0

0.0

Total Debt

26.5

21.7

0.0

0.0

0.0

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

0.4

-

-

-

-

Deferred Income Tax

0.4

-

-

-

-

Minority Interest

-

3.0

4.5

-

-

    Reserves

2.9

1.8

2.3

2.0

1.9

    Pension Benefits - Underfunded

1.4

0.9

0.9

1.7

1.4

    Other Long Term Liabilities

-

0.0

0.0

-

-

Other Liabilities, Total

4.3

2.8

3.3

3.7

3.3

Total Liabilities

51.9

43.9

49.3

26.9

23.9

 

 

 

 

 

 

    Common Stock

12.0

9.8

13.0

13.1

12.6

Common Stock

12.0

9.8

13.0

13.1

12.6

Additional Paid-In Capital

13.1

10.3

14.3

1.9

1.8

Retained Earnings (Accumulated Deficit)

151.3

108.3

131.2

111.4

92.6

Treasury Stock - Common

-17.0

-13.9

-2.3

-6.6

-6.4

Unrealized Gain (Loss)

10.2

8.3

11.6

12.3

11.9

    Other Equity

0.0

0.0

0.0

-

-

Other Equity, Total

0.0

0.0

0.0

-

-

Total Equity

169.5

122.8

167.8

132.0

112.6

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

221.4

166.7

217.1

158.9

136.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

26.4

26.4

26.6

24.9

26.2

Total Common Shares Outstanding

26.4

26.4

26.6

24.9

26.2

Treasury Shares - Common Stock Primary Issue

0.7

0.7

0.4

0.9

0.9

Employees

569

554

543

508

496

Number of Common Shareholders

12,328

9,414

7,090

6,648

5,432

Accumulated Goodwill Amortization Suppl.

-

0.3

-

-

-

Accumulated Intangible Amort, Suppl.

1.4

1.2

-

-

-

Deferred Sale - Current

0.0

0.0

0.0

0.0

0.0

Total Long Term Debt, Supplemental

26.5

21.7

-

-

-

Long Term Debt Maturing within 1 Year

13.3

7.2

-

-

-

Long Term Debt Maturing in Year 2

13.3

7.2

-

-

-

Long Term Debt Maturing in Year 3

-

7.2

-

-

-

Long Term Debt Maturing in 2-3 Years

13.3

14.5

-

-

-

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

-

-

-

Total Operating Leases, Supplemental

-

-

0.0

0.0

0.1

Operating Lease Payments Due in Year 1

-

-

0.0

0.0

0.0

Operating Lease Payments Due in Year 2

-

-

-

0.0

0.0

Operating Lease Payments Due in Year 3

-

-

-

-

0.0

Operating Lease Pymts. Due in 2-3 Years

-

-

-

0.0

0.0

Oper. Lse. Pymts. Due in Year 6 & Beyond

-

-

0.0

0.0

0.0

 

 

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Reclassified Normal 
31-Mar-2009

Updated Normal 
31-Mar-2007

Restated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1209.855603

1214.015574

933.271038

945.639003

1012.786749

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Sahmduk Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

23.0

25.2

35.4

20.7

16.1

    Depreciation

2.2

3.0

3.9

3.5

3.4

Depreciation/Depletion

2.2

3.0

3.9

3.5

3.4

    Amortization of Intangibles

0.3

0.7

0.8

0.2

0.1

Amortization

0.3

0.7

0.8

0.2

0.1

Deferred Taxes

0.6

-0.1

0.1

-0.1

0.2

    Unusual Items

0.7

0.2

0.0

-0.4

0.0

    Equity in Net Earnings (Loss)

0.2

-

-

0.1

0.2

    Other Non-Cash Items

5.1

3.6

2.3

3.3

2.8

Non-Cash Items

6.0

3.8

2.2

3.0

3.0

    Accounts Receivable

-15.0

-13.9

-10.4

-5.0

-5.7

    Inventories

-1.9

-2.9

-15.8

3.1

1.6

    Prepaid Expenses

0.0

0.0

-0.3

0.0

0.0

    Accounts Payable

1.7

-9.5

14.0

-1.6

1.3

    Accrued Expenses

0.0

0.1

-0.1

0.1

0.0

    Taxes Payable

-1.2

-5.9

2.5

3.0

-0.2

    Other Liabilities

-3.0

-2.6

-2.4

-2.3

-1.4

Changes in Working Capital

-19.5

-34.8

-12.5

-2.7

-4.5

Cash from Operating Activities

12.7

-2.3

29.9

24.6

18.3

 

 

 

 

 

 

    Purchase of Fixed Assets

-3.3

-20.4

-22.2

-3.6

-4.5

    Purchase/Acquisition of Intangibles

-2.2

-2.7

-0.6

-0.9

-1.4

Capital Expenditures

-5.5

-23.1

-22.7

-4.6

-6.0

    Sale of Fixed Assets

0.1

0.0

0.5

0.5

0.0

    Sale/Maturity of Investment

8.3

31.4

60.5

95.3

29.6

    Purchase of Investments

-4.2

-17.8

-90.6

-97.4

-29.6

    Sale of Intangible Assets

-

-

0.0

-

0.0

    Other Investing Cash Flow

0.2

0.2

-1.1

-0.4

0.3

Other Investing Cash Flow Items, Total

4.5

13.8

-30.7

-2.1

0.4

Cash from Investing Activities

-1.0

-9.3

-53.4

-6.6

-5.6

 

 

 

 

 

 

    Other Financing Cash Flow

-

0.0

1.9

-

0.0

Financing Cash Flow Items

-

0.0

1.9

-

0.0

Total Cash Dividends Paid

-6.5

-8.5

-7.6

-5.0

-4.7

        Sale/Issuance of Common

-

-

25.1

-

0.0

        Repurchase/Retirement of Common

-

-14.0

-2.5

-

-1.9

    Common Stock, Net

-

-14.0

22.6

-

-1.9

Issuance (Retirement) of Stock, Net

-

-14.0

22.6

-

-1.9

        Short Term Debt Issued

-

4.1

-

-

4.9

        Short Term Debt Reduction

-

-4.1

-

-

-9.9

    Short Term Debt, Net

-

0.0

-

-

-4.9

        Long Term Debt Issued

-

24.7

-

-

-

    Long Term Debt, Net

-

24.7

-

-

-

Issuance (Retirement) of Debt, Net

-

24.7

-

-

-4.9

Cash from Financing Activities

-6.5

2.3

16.8

-5.0

-11.5

 

 

 

 

 

 

Net Change in Cash

5.2

-9.2

-6.7

12.9

1.1

 

 

 

 

 

 

Net Cash - Beginning Balance

15.8

25.6

40.0

26.5

23.7

Net Cash - Ending Balance

21.0

16.3

33.3

39.5

24.8

 

 

Annual Income Statement

 

Financials in: USD (mil)          

Except for share items (millions) and per share items (actual units)   

 

 

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Updated Normal 
31-Mar-2007

Updated Normal 
31-Mar-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1209.855603

1214.015574

933.271038

945.639003

1012.786749

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales Sale-Export

0.1

0.0

0.0

-

-

    Service Sale

-

0.1

0.1

-

-

    Sales Sale of Merchandises

22.5

21.9

23.2

16.9

17.4

    Sales Sale of Finished Goods

117.2

109.7

140.3

123.5

99.1

    Manufactured Sales

1.3

1.4

2.2

2.1

2.2

    Technology Sale

-

-

1.0

3.0

6.1

Total Sale

141.2

133.1

166.8

145.4

124.8

 

 

 

 

 

 

    Cost-Services

-

0.0

0.6

-

-

    Cost-Exporting Sales

0.1

0.0

0.0

-

-

    Cost of Merchandises Sold

15.9

15.6

15.4

13.1

12.7

    Cost of Finished Goods Sold

42.9

36.9

45.2

46.4

43.4

    Cost-Manufactured Sales

1.1

1.2

1.7

1.6

1.9

    Cost Technology

-

-

0.2

2.5

1.4

    Salaries and Wages

14.0

13.9

19.9

18.9

16.6

    Retirement and Severance Benefits

3.0

2.3

1.3

2.3

1.3

    Employee Benefits

5.8

3.9

4.4

3.7

3.5

    Travel Expenses

2.2

1.8

2.8

2.4

2.0

    Communication Expenses

0.2

0.2

0.2

0.2

0.2

    Utility Expenses

0.1

0.1

0.1

0.1

0.1

    Taxes and Dues

0.7

0.7

0.9

0.9

0.7

    Rental Expenses

0.4

0.3

0.3

0.2

0.2

    Depreciation

0.9

0.9

1.7

1.4

1.1

    Repair Expenses

0.1

0.1

0.2

0.1

0.1

    Insurance Premiums

0.1

0.1

0.2

0.2

0.1

    Entertainment Expenses

2.5

3.2

3.5

2.6

1.7

    Advertising Expenses

1.6

1.9

4.4

4.4

3.0

    Sample Expenses

0.2

0.1

0.3

0.2

0.2

    Conference Expenses

0.7

0.6

0.6

0.6

0.5

    Research Expenses

2.2

1.2

1.3

1.2

2.0

    Freight Expenses

0.8

0.8

0.6

0.6

0.5

    Development Expenses

1.6

2.6

3.3

1.9

3.8

    Commissions

3.6

2.6

2.0

2.0

1.2

    Sales Incentive Expenses

-

-

-

-

0.0

    Expenses of Allowance for Doubtful Accou

0.6

0.2

0.2

0.2

0.1

    Training Expenses

0.6

0.6

0.8

1.0

0.6

    Vehicle Maintenance Expenses

0.6

0.5

0.7

0.6

0.5

    Consumable Expense

-

0.3

0.5

0.3

0.3

    Publication Expenses

0.7

0.4

0.6

0.4

0.3

    Amortization of Intangible Assets

0.3

0.7

0.8

0.2

0.1

    Labor Services Exp

-

0.7

0.6

0.7

0.7

    Sales Promotional Expenses

3.6

6.0

5.9

6.2

3.8

    Miscellaneous Expenses

0.0

0.0

0.1

0.1

0.1

    Supply Expenses

0.3

-

-

-

-

    Service Expense

1.5

-

-

-

-

Total Operating Expense

108.9

100.8

121.3

117.4

104.4

 

 

 

 

 

 

    Interest Income

0.8

1.7

3.0

1.3

0.8

    Dividend Income

0.0

0.0

0.0

0.0

0.0

    Rental Income

0.0

0.0

0.0

0.0

0.0

    Gains on Foreign Currency Transactions

0.3

0.3

0.1

0.1

0.2

    Gains on Foreign Currency Translation

0.0

0.0

0.0

0.0

0.0

    G-Disp ST Investment Secs

-

-

-

-

0.0

    Gains on Sale of Property, Plant and Equ

0.0

0.0

0.5

0.4

0.0

    Gain-Prior Period Error Correction

-

-

0.0

-

0.4

    Other Non-Operating Sales

0.5

0.8

2.0

0.8

1.6

    Interest Expenses

-1.9

-1.3

0.0

-

-0.1

    Losses on Foreign Currency Transactions

0.0

0.0

-0.2

-0.1

0.0

    Losses on Foreign Currency Translation

0.0

0.0

-

-

0.0

    Loss-Reduction of Intangible Assets

-

-

-0.2

-

-

    Loss-Disposal of ST Marketable Sec.

-

-

0.0

-

-

    Losses on Inventory Obsolescence

-0.5

-0.1

0.0

0.0

0.0

    L-Disp LT Invest Secs

-

-

-

-

0.0

    Losses on Sale of Property, Plant and Eq

-0.1

0.0

-0.1

-

0.0

    Donations

-0.5

-0.6

-0.9

-1.1

-1.7

    Addl Income Tax Paid

-

-

-

-

0.0

    Loss-Prior Period Error Correction

-

-

0.0

-

0.0

    Other Non-Operating Expenses

-0.3

-0.6

-0.8

0.0

-0.1

    Losses on Valuation of Equity Method Sec

-0.2

-

-

-0.1

-0.2

Net Income Before Taxes

30.5

32.6

49.0

29.2

21.2

 

 

 

 

 

 

Provision for Income Taxes

7.4

7.4

13.6

8.6

5.1

Net Income After Taxes

23.0

25.2

35.4

20.7

16.1

 

 

 

 

 

 

    Minority Interest Gain

-

0.2

-0.2

-

-

Net Income Before Extra. Items

23.0

25.4

35.2

20.7

16.1

Net Income

23.0

25.4

35.2

20.7

16.1

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

23.0

25.4

35.2

20.7

16.1

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

23.0

25.4

35.2

20.7

16.1

 

 

 

 

 

 

Basic Weighted Average Shares

26.4

26.3

26.6

24.9

26.2

Basic EPS Excluding ExtraOrdinary Items

0.87

0.97

1.32

0.83

0.61

Basic EPS Including ExtraOrdinary Item

0.87

0.97

1.32

0.83

0.61

Diluted Net Income

23.0

25.4

35.2

20.7

16.1

Diluted Weighted Average Shares

26.4

26.3

26.6

24.9

26.2

Diluted EPS Excluding ExtraOrd Items

0.87

0.97

1.32

0.83

0.61

Diluted EPS Including ExtraOrd Items

0.87

0.97

1.32

0.83

0.61

DPS-Ordinary Shares

0.41

0.25

0.43

0.30

0.18

Gross Dividends - Common Stock

10.9

6.5

11.0

7.5

4.7

Normalized Income Before Taxes

31.1

32.8

48.6

28.9

21.2

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

7.6

7.4

13.5

8.4

5.1

Normalized Income After Taxes

23.5

25.4

35.1

20.4

16.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

23.5

25.6

34.9

20.4

16.1

 

 

 

 

 

 

Basic Normalized EPS

0.89

0.98

1.31

0.82

0.61

Diluted Normalized EPS

0.89

0.98

1.31

0.82

0.61

R&D Expense, Supplemental

6.8

8.9

4.6

3.0

5.8

Advertising Expense

5.2

7.9

10.3

10.6

6.8

Interest Expense, Supplemental

1.9

1.3

0.0

-

0.1

Amort of Intangibles, Supplemental

0.3

0.5

0.8

0.2

0.1

Amort of Acquisition Cost

-

0.2

-

-

-

Rental Expense, Supplemental

0.4

0.3

0.3

0.2

0.2

Depreciation, Supplemental

2.2

3.0

3.9

3.5

3.4

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

UpdateType/Date

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Updated Normal 
31-Mar-2007

Restated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1131.45

1383.25

990.35

940.6

971.65

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and CashEquivalents

22.4

14.3

31.4

39.7

25.8

    Short-term Financial Instruments

4.4

8.2

28.3

0.1

0.1

    Short-term Investment Assets

0.3

0.2

0.2

0.2

0.2

    Trade Rcvb Gross

79.8

51.8

56.4

49.4

43.5

    Allowance for Doubtful Accounts for Trad

-1.1

-0.5

-0.6

-0.5

-0.4

    Other Receivables

0.6

0.8

0.2

0.3

0.0

    Accrued Income

0.2

0.3

0.4

0.1

0.1

    Advance Payments

1.1

0.4

0.6

0.2

2.6

    Prepaid Expenses Total

0.3

0.3

0.3

0.1

0.1

    Short-term Loans

0.0

0.1

-

-

0.0

    Deferred Income Taxes Assets Current

0.1

-

-

0.1

0.1

    Merchandise

6.2

3.5

4.4

2.7

3.5

    Finished Goods

10.3

12.2

7.4

5.1

3.5

    Semifinished Goods

1.7

1.1

1.5

0.4

0.6

    Works in Process

3.8

2.7

4.6

2.5

2.7

    Raw Materials

10.3

6.8

15.6

9.4

9.9

    Supplies

0.2

0.1

0.1

0.0

0.0

    Goods in Transit

0.6

0.3

0.1

0.2

0.1

Total Current Assets

141.1

102.4

151.0

109.9

92.4

 

 

 

 

 

 

    LT Loan

-

-

0.1

-

-

    Long-term Financial Instruments

0.0

0.0

0.0

0.0

0.0

    Long-term Investment in Securities

0.1

0.1

0.0

0.0

0.0

    Equity Method Securities

2.6

-

-

3.9

2.4

    LT Trade Rcvbls.

-

-

-

-

0.0

    Deposits Provided

1.7

1.6

2.4

1.6

1.1

    LA Defer Tax Dbt

-

0.7

0.8

0.8

0.7

    Other Investments

2.6

2.2

3.1

3.1

2.5

    Land

13.6

11.4

16.0

16.3

15.8

    Buildings

16.9

14.7

19.9

19.6

18.8

    Accumulated Depreciation for Buildings

-5.5

-4.2

-5.2

-4.8

-4.0

    Structures

1.2

0.7

1.0

0.9

0.9

    Accumulated Depreciation for Structures

-0.6

-0.5

-0.6

-0.6

-0.5

    Machinery

10.9

9.5

13.2

11.3

11.6

    Machinery & Equipment-Government Subsidy

-

-0.1

-0.1

-

-

    Accumulated Depreciation for Machinery

-9.8

-8.4

-10.6

-9.8

-9.8

    Transport Equip.

1.1

0.8

1.1

0.9

1.0

    Accumulated Depreciation for Vehicles

-0.6

-0.7

-0.7

-0.8

-0.7

    Tools

3.3

2.6

3.7

3.2

2.5

    Tools & Equipments-Government Subsidy

-

0.0

0.0

-

-

    Accumulated Depreciation for Tools

-2.7

-2.3

-3.0

-2.5

-1.9

    Office Equipment

2.6

2.1

3.2

6.0

4.4

    Fixtures-Government Subsidy

-

0.0

0.0

-

-

    Accumulated Depreciation for Office Equi

-1.3

-1.6

-2.1

-4.4

-3.5

    Construction

36.6

28.8

17.1

0.4

0.0

    Industrial Property Rights

0.1

0.1

0.2

0.3

0.2

    Development Costs

7.4

6.1

5.9

3.2

2.5

    Goodwill

-

0.6

1.0

-

-

    Other Intangibles

-

0.0

0.0

0.0

0.1

Total Assets

221.4

166.7

217.1

158.9

136.5

 

 

 

 

 

 

    Trade Acct. Pay.

6.6

3.7

7.3

5.3

8.6

    ST Borrowings

-

-

-

-

0.0

    Withholdings

0.5

0.4

0.6

0.7

0.5

    Other Payables

6.2

5.3

16.9

6.8

4.8

    Accrued Expenses

0.2

0.2

0.2

0.3

0.1

    Inc. Taxes Pay.

3.2

3.4

13.6

5.9

3.2

    Unearned Income

0.0

0.0

0.0

0.0

0.0

    Tax Dep Withheld

2.2

2.1

1.4

2.4

1.9

    Sec Dep Withheld

1.8

1.4

1.5

1.7

1.4

    Deferred Income Tax Credits

-

0.0

0.0

-

-

Total Current Liabilities

20.7

16.4

41.6

23.2

20.6

 

 

 

 

 

 

    Long-term Borrowings

26.5

21.7

-

-

-

Total Long Term Debt

26.5

21.7

-

-

-

 

 

 

 

 

 

    Rent Deposit

-

0.0

0.0

-

-

    Provisions for Estimated Return of Goods

2.9

1.8

2.3

2.0

1.9

    Minority Interest

-

3.0

4.5

-

-

    Provisions for Retirement and Severance

9.8

5.6

0.9

1.7

1.4

    Deposits for Retirement and Severance Be

-8.5

-4.6

-

-

-

    Transfer to National Pension Fund

0.0

0.0

-

-

-

    Deferred Income Taxes Liabilities Non-cu

0.4

-

-

-

-

Total Liabilities

51.9

43.9

49.3

26.9

23.9

 

 

 

 

 

 

    Common Stock

12.0

9.8

13.0

13.1

12.6

    Additional Paid-in Capital

0.8

0.7

0.9

1.0

0.9

    Other Capital

11.7

9.6

13.4

0.9

0.9

    Revaluation Reserve

10.2

8.3

11.6

12.3

11.9

    Stock Options in Other Capital Adjustmen

0.6

-

-

-

-

    Appropriated Retained Earnings for Volun

117.5

80.2

90.8

-

-

    Appropriated Retained Earnings for Statu

7.7

5.7

6.9

6.5

5.8

    Retained Earnings Before Appropriations

26.1

-

-

8.1

7.8

    Unapprop Earning

-

-

-

75.7

62.0

    Other Capital Adjustments in Capital Adj

0.0

0.0

0.0

-

-

    Retained Carried

-

22.4

33.4

21.1

17.0

    Treasury Stock in Capital Adjustments

-17.0

-13.9

-2.3

-6.6

-6.4

Total Equity

169.5

122.8

167.8

132.0

112.6

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

221.4

166.7

217.1

158.9

136.5

 

 

 

 

 

 

    S/O-Ordinary Shares

26.4

26.4

26.6

24.9

26.2

Total Common Shares Outstanding

26.4

26.4

26.6

24.9

26.2

T/S-Ordinary Shares

0.7

0.7

0.4

0.9

0.9

Deferred Sale, Current

0.0

0.0

0.0

0.0

0.0

Accumulated Intangible Amort.

1.4

1.2

-

-

-

Accumulated Goodwill Amort.

-

0.3

-

-

-

Employees

569

554

543

508

496

Number of Common Shareholders

12,328

9,414

7,090

6,648

5,432

Long Term Debt Maturing in Year 2

26.5

-

-

-

-

Long Term Debt Maturing in Year 3

-

21.7

-

-

-

Total Long Term Debt, Supplemental

26.5

21.7

-

-

-

Operating Lse 1 yr

-

-

0.0

0.0

0.0

Operating Lse 2 yrs

-

-

-

0.0

0.0

Operating Lse 3 yrs

-

-

-

-

0.0

Total Operating Leases

-

-

0.0

0.0

0.1

 

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Reclassified Normal 
31-Mar-2009

Updated Normal 
31-Mar-2007

Restated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1209.855603

1214.015574

933.271038

945.639003

1012.786749

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

23.0

25.2

35.4

20.7

16.1

    Depreciation

2.2

3.0

3.9

3.5

3.4

    Expenses of Allowance for Doubtful Accou

0.6

3.3

1.9

3.0

1.8

    Amortization of Intangible Assets

0.3

0.7

0.8

0.2

0.1

    Prov. Doubtful Act

-

0.2

0.2

0.2

0.1

    Compensation Expenses Associated with St

0.5

-

-

-

-

    Retirement and Severance Benefits

4.1

-

-

-

-

    L-For Exch Translatn

-

-

-

-

0.0

    Loss Decr. Inventory

-

-

-

-

0.0

    Loss-ST Marketable Securities Disposal

-

-

0.0

-

-

    L-Inventory Scrapping

0.6

0.2

0.1

0.0

0.0

    Development Cost

-

0.0

0.0

0.0

1.2

    L-Disp LT Invest Secs

-

-

-

-

0.0

    Loss-Reduction of Intangible Assets

-

-

0.2

-

-

    Losses on Sale of Property, Plant and Eq

0.1

0.0

0.1

-

0.0

    Other Non-Op Exp

-

0.0

0.1

0.0

0.1

    Cost of Goods

-

-

-

-

0.0

    Losses on Valuation of Equity Method Sec

0.2

-

-

0.1

0.2

    Loss-Prior Period Error Correction

-

-

0.0

-

0.0

    Gains on Foreign Currency Translation

0.0

-

0.0

0.0

0.0

    G-Disp ST Investment Secs

-

-

-

-

0.0

    Gains on Sale of Property, Plant and Equ

0.0

0.0

-0.5

-0.4

0.0

    Other Non-Operating Income

-

0.0

0.0

-

0.0

    Gain-Prior Period Error Correction

-

-

0.0

-

-0.4

    Decrease or Increase in Trade Receivable

-15.5

-13.2

-10.1

-4.6

-5.8

    Decrease or Increase in Other Receivable

0.3

-0.7

0.1

-0.3

0.0

    Decrease or Increase in Accrued Sales

0.1

0.0

-0.3

0.0

0.1

    Dec Advanced Payment

-0.8

0.0

-0.2

2.4

-2.1

    Decrease or Increase in Prepaid Expenses

0.0

0.0

-0.3

0.0

0.0

    Decrease or Increase in Inventories

-1.2

-2.9

-15.5

0.7

3.7

    Deferred Income Tax Debit, Current

-0.1

-

0.1

0.1

-0.1

    Decrease or Increase in Deferred Income

0.3

-0.1

0.0

-0.2

0.3

    Increase or Decrease in Trade Payables

2.0

-1.8

2.4

-3.5

2.2

    Increase or Decrease in Withholdings

0.1

-0.1

-0.1

0.2

0.1

    Increase or Decrease in Other Payables

-0.2

-7.8

11.6

1.9

-0.9

    Increase or Decrease in Accrued Expenses

0.0

0.1

-0.1

0.1

0.0

    Increase or Decrease in Income Taxes Pay

-0.9

-7.2

3.4

2.5

-0.5

    Increase or Decrease in Deferred Income

0.4

0.0

0.0

-

0.0

    Valu Add Tax Withhld

-0.4

1.3

-1.0

0.4

0.3

    Security Deposits

0.1

0.3

0.0

0.3

-0.1

    Reserve-Sales Return

0.6

0.2

0.4

0.0

0.1

    Payment for Retirement and Severance Ben

-1.2

-0.9

-1.7

-2.3

-1.1

    Decrease Increase Deposits for Retiremen

-2.6

-2.2

-1.0

-0.5

-0.5

    Increase or Decrease in National Pension

0.0

0.0

0.0

0.0

0.0

    Unearned Income

-

0.0

0.0

0.0

-

Cash from Operating Activities

12.7

-2.3

29.9

24.6

18.3

 

 

 

 

 

 

    Proceeds from Sale of Short-term Financi

8.3

31.4

60.4

95.3

29.5

    Disposal-Investment Assets

0.1

-

-

-

0.0

    Decrease-LT Loans

-

-

0.0

-

-

    Decrease in Short-term Loans

0.0

0.1

-

9.0

0.9

    Disp-LT Invest Secs

-

-

-

-

0.0

    Decrease in Deposits Provided

0.2

0.4

0.0

0.0

0.2

    Disp-Structures

-

-

-

-

0.0

    Proceeds from Sale of Machinery

0.0

0.0

0.4

0.4

0.0

    Proceeds from Sale of Vehicles

0.1

0.0

0.1

0.0

0.0

    Decrease-Industrial Property Right

-

-

0.0

-

0.0

    Disp-Land

-

-

-

0.0

-

    Disp-Building

-

-

-

0.0

-

    Proceeds from Sale of Tools

0.0

0.0

-

0.0

-

    Proceeds from Sale of Office Equipment

0.0

-

-

-

-

    Disposal-ST Investment Assets

-

-

0.0

-

-

    Dec-LT Finl Asset

-

-

-

0.0

-

    Decrease-Investment Securities

-

-

0.0

-

-

    Purchase of Short-term Financial Instrum

-4.1

-17.6

-90.4

-95.3

-27.7

    Purchase of Short-term Investment Assets

0.0

0.0

-0.1

0.0

0.0

    Purchase of Long-term Investment Securit

0.0

-

-

-

-

    Increase-LT Loans

-

-

-0.2

-

-

    Increase in ST Loans

-

-0.1

-

-9.0

-0.4

    Acq-LT Invest Secs

-

-0.1

-

0.0

0.0

    Acq-Securities under Equity Method

-

-

-

-1.6

-0.5

    Increase-Other Investment Assets

-

-

-0.1

-0.6

-1.4

    Increase in Deposits Provided

0.0

-0.2

-0.9

-0.5

-0.4

    Acquisition of Land

-

-

-0.2

0.0

-0.3

    Purchase of Structures

-0.4

0.0

-0.1

-

-

    Purchase of Buildings

0.0

-

-0.6

-0.2

-1.4

    Purch. of Structure

-

-

-

-

0.0

    Purchase of Machinery

-0.1

-0.4

-1.9

-0.9

-1.1

    Purchase of Vehicles

-0.4

-0.1

-0.5

0.0

-0.1

    Purchase of Tools

-0.3

-0.1

-0.5

-0.7

-0.6

    Purchase of Office Equipment

-0.8

-0.3

-0.6

-1.4

-1.0

    Purchase of Construction in Progress

-1.4

-19.5

-17.8

-0.3

0.0

    Purchase of Industrial Property Rights

0.0

0.0

0.0

-0.1

-0.1

    Purchase of Development Costs

-2.2

-2.7

-0.5

-0.9

-1.3

    Incr-Other Intangibles

-

-

-

-

0.0

Cash from Investing Activities

-1.0

-9.3

-53.4

-6.6

-5.6

 

 

 

 

 

 

    Increase-Common Stock

-

-

0.0

-

-

    Increase-ST Borrowings

-

4.1

-

-

4.9

    Increase-LT Borrowings

-

24.7

-

-

-

    Disposal-Treasury Stock

-

-

25.0

-

0.0

    Increase-Rent Guarantee Deposit

-

0.0

-

-

-

    Cash Outflow-Consolidation Scope Change

-

-

1.9

-

-

    Payments in Dividends

-6.5

-8.5

-7.6

-5.0

-4.7

    Dec-Curr LT Liabs

-

-

-

-

0.0

    Decrease-ST Borrowings

-

-4.1

-

-

-9.9

    Acquisition-Treasury Stock

-

-14.0

-2.5

-

-1.9

    Decrease-Lease Guarantee Deposit

-

0.0

-

-

-

Cash from Financing Activities

-6.5

2.3

16.8

-5.0

-11.5

 

 

 

 

 

 

Net Change in Cash

5.2

-9.2

-6.7

12.9

1.1

 

 

 

 

 

 

Cash and Cash Equivalent at Beginning

15.8

25.6

40.0

26.5

23.7

Cash and Cash Equivalent at End

21.0

16.3

33.3

39.5

24.8

 

 

Financial Health

 

Financials in: USD (mil)          

Except for share items (millions) and per share items (actual units)   

Key Indicators USD (mil)

 

Quarter
Ending
31-Mar-2008

Quarter
Ending
Yr Ago

Annual
Year End
31-Mar-2010

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Sale1

41.0

12.20%

141.2

5.71%

7.49%

8.59%

Research & Development1

1.9

94.64%

3.7

-3.91%

16.26%

1.48%

Operating Income1

8.4

23.92%

32.3

-0.45%

13.82%

13.09%

Income Available to Common Excl Extraord Items1

7.1

38.33%

23.0

-9.74%

12.56%

14.85%

Basic EPS Excl Extraord Items1

0.32

56.54%

0.87

-10.11%

10.42%

14.71%

Capital Expenditures2

21.3

360.33%

5.5

-76.25%

15.48%

-4.98%

Cash from Operating Activities2

28.3

13.64%

12.7

-

-12.82%

-3.88%

Free Cash Flow

6.6

-65.45%

7.7

-

-22.66%

-2.99%

Total Assets3

212.4

40.73%

221.4

8.67%

18.79%

14.58%

Total Liabilities3

44.5

74.40%

51.9

-3.23%

32.42%

17.02%

Total Long Term Debt3

0.0

-

26.5

0.00%

-

-

Employees3

-

-

569

2.71%

3.85%

1.86%

Total Common Shares Outstanding3

26.6

6.85%

26.4

0.00%

1.94%

0.05%

1-ExchangeRate: KRW to USD Average for Period

955.269780

 

1209.855603

 

 

 

2-ExchangeRate: KRW to USD Average for Period

933.271038

 

1209.855603

 

 

 

3-ExchangeRate: KRW to USD Period End Date

990.350000

 

1131.450000

 

 

 

Key Ratios

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

Profitability

Gross Margin

57.46%

59.61%

62.20%

56.21%

52.42%

Operating Margin

22.88%

24.29%

27.28%

19.27%

16.34%

Pretax Margin

21.58%

24.49%

29.35%

20.10%

17.02%

Net Profit Margin

16.32%

19.11%

21.08%

14.21%

12.90%

Financial Strength

Current Ratio

6.82

6.24

3.63

4.75

4.49

Long Term Debt/Equity

0.16

0.18

0.00

0.00

0.00

Total Debt/Equity

0.16

0.18

0.00

0.00

0.00

Management Effectiveness

Return on Assets

11.59%

13.74%

18.12%

13.86%

12.56%

Return on Equity

15.41%

18.38%

22.60%

16.74%

15.56%

Efficiency

Receivables Turnover

2.10

2.52

3.04

3.11

3.21

Inventory Turnover

1.91

1.83

2.21

2.90

2.53

Asset Turnover

0.71

0.73

0.85

0.98

0.97

Market Valuation USD (mil)

P/E (TTM)

10.39

.

Enterprise Value2

365.3

Price/Sales (TTM)

2.33

.

Enterprise Value/Sale (TTM)

2.12

Price/Book (MRQ)

2.15

.

Enterprise Value/EBITDA (TTM)

8.59

Market Cap as of 22-Jul-20111

344.5

.

 

 

1-ExchangeRate: KRW to USD on 22-Jul-2011

1051.900000

 

 

 

2-ExchangeRate: KRW to USD on 31-Mar-2008

990.350000

 

 

 

 

 

Annual Ratios

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)   

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

Financial Strength

Current Ratio

6.82

6.24

3.63

4.75

4.49

Quick/Acid Test Ratio

5.15

4.58

2.80

3.85

3.36

Working Capital1

120.4

86.0

109.5

86.8

71.8

Long Term Debt/Equity

0.16

0.18

0.00

0.00

0.00

Total Debt/Equity

0.16

0.18

0.00

0.00

0.00

Long Term Debt/Total Capital

0.14

0.15

0.00

0.00

0.00

Total Debt/Total Capital

0.14

0.15

0.00

0.00

0.00

Payout Ratio

47.34%

25.53%

32.43%

36.41%

29.20%

Effective Tax Rate

24.38%

22.63%

27.72%

29.27%

24.21%

Total Capital1

196.0

144.5

167.8

132.0

112.6

 

 

 

 

 

 

Efficiency

Asset Turnover

0.71

0.73

0.85

0.98

0.97

Inventory Turnover

1.91

1.83

2.21

2.90

2.53

Days In Inventory

190.62

199.54

165.44

126.07

144.14

Receivables Turnover

2.10

2.52

3.04

3.11

3.21

Days Receivables Outstanding

173.63

145.06

119.90

117.23

113.87

Sale/Employee2

265,317

210,850

289,480

287,812

262,192

Operating Income/Employee2

60,696

51,223

78,957

55,455

42,844

EBITDA/Employee2

65,435

56,797

87,071

62,752

50,126

 

 

 

 

 

 

Profitability

Gross Margin

57.46%

59.61%

62.20%

56.21%

52.42%

Operating Margin

22.88%

24.29%

27.28%

19.27%

16.34%

EBITDA Margin

24.66%

26.94%

30.08%

21.80%

19.12%

EBIT Margin

22.88%

24.29%

27.28%

19.27%

16.34%

Pretax Margin

21.58%

24.49%

29.35%

20.10%

17.02%

Net Profit Margin

16.32%

19.11%

21.08%

14.21%

12.90%

R&D Expense/Sale

2.65%

2.91%

2.74%

2.09%

4.68%

COGS/Sale

42.54%

40.39%

37.80%

43.79%

47.58%

SG&A Expense/Sale

31.08%

31.18%

30.69%

33.73%

30.49%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

11.59%

13.74%

18.12%

13.86%

12.56%

Return on Equity

15.41%

18.38%

22.60%

16.74%

15.56%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

0.29

-0.84

0.25

0.81

0.49

Operating Cash Flow/Share 2

0.52

-0.08

1.06

0.99

0.73

1-ExchangeRate: KRW to USD Period End Date

1131.45

1383.25

990.35

940.6

971.65

2-ExchangeRate: KRW to USD Average for Period

1131.45

1383.25

990.35

940.6

971.65

 

Current Market Multiples

Market Cap/Earnings (TTM)

10.55

Market Cap/Equity (MRQ)

2.18

Market Cap/Sale (TTM)

2.33

Market Cap/EBIT (TTM)

8.60

Market Cap/EBITDA (TTM)

7.87

Enterprise Value/Earnings (TTM)

10.53

Enterprise Value/Equity (MRQ)

2.18

Enterprise Value/Sale (TTM)

2.32

Enterprise Value/EBIT (TTM)

8.58

Enterprise Value/EBITDA (TTM)

7.85

 

 

 

 Annual Income Statement

Standardized

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)   

 

 

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Updated Normal 
31-Mar-2007

Updated Normal 
31-Mar-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1209.855603

1214.015574

933.271038

945.639003

1012.786749

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Sahmduk Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

141.2

133.1

166.8

145.4

124.8

Sale

141.2

133.1

166.8

145.4

124.8

Total Sale

141.2

133.1

166.8

145.4

124.8

 

 

 

 

 

 

    Cost of Sale

60.1

53.8

63.1

63.7

59.4

Cost of Sale, Total

60.1

53.8

63.1

63.7

59.4

Gross Profit

81.1

79.3

103.7

81.7

65.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

15.9

12.8

14.6

12.7

9.2

    Labor & Related Expense

22.8

20.8

26.2

25.7

22.0

    Advertising Expense

5.2

7.9

10.3

10.6

6.8

Total Selling/General/Administrative Expenses

43.9

41.5

51.2

49.0

38.0

Research & Development

3.7

3.9

4.6

3.0

5.8

    Depreciation

0.9

0.9

1.7

1.4

1.1

    Amortization of Intangibles

0.3

0.7

0.8

0.2

0.1

Depreciation/Amortization

1.2

1.6

2.5

1.6

1.1

Total Operating Expense

108.9

100.8

121.3

117.4

104.4

 

 

 

 

 

 

Operating Income

32.3

32.3

45.5

28.0

20.4

 

 

 

 

 

 

        Interest Expense - Non-Operating

-1.9

-1.3

0.0

-

-0.1

    Interest Expense, Net Non-Operating

-1.9

-1.3

0.0

-

-0.1

        Interest Income - Non-Operating

0.8

1.7

3.0

1.3

0.8

        Investment Income - Non-Operating

0.1

0.3

-0.2

-0.2

0.0

    Interest/Investment Income - Non-Operating

0.9

2.0

2.8

1.1

0.8

Interest Income (Expense) - Net Non-Operating Total

-1.0

0.6

2.8

1.1

0.7

Gain (Loss) on Sale of Assets

-0.6

-0.1

0.4

0.4

0.0

    Other Non-Operating Income (Expense)

-0.2

-0.3

0.3

-0.3

0.1

Other, Net

-0.2

-0.3

0.3

-0.3

0.1

Income Before Tax

30.5

32.6

49.0

29.2

21.2

 

 

 

 

 

 

Total Income Tax

7.4

7.4

13.6

8.6

5.1

Income After Tax

23.0

25.2

35.4

20.7

16.1

 

 

 

 

 

 

    Minority Interest

-

0.2

-0.2

-

-

Net Income Before Extraord Items

23.0

25.4

35.2

20.7

16.1

Net Income

23.0

25.4

35.2

20.7

16.1

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

23.0

25.4

35.2

20.7

16.1

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

23.0

25.4

35.2

20.7

16.1

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

26.4

26.3

26.6

24.9

26.2

Basic EPS Excl Extraord Items

0.87

0.97

1.32

0.83

0.61

Basic/Primary EPS Incl Extraord Items

0.87

0.97

1.32

0.83

0.61

Diluted Net Income

23.0

25.4

35.2

20.7

16.1

Diluted Weighted Average Shares

26.4

26.3

26.6

24.9

26.2

Diluted EPS Excl Extraord Items

0.87

0.97

1.32

0.83

0.61

Diluted EPS Incl Extraord Items

0.87

0.97

1.32

0.83

0.61

Dividends per Share - Common Stock Primary Issue

0.41

0.25

0.43

0.30

0.18

Gross Dividends - Common Stock

10.9

6.5

11.0

7.5

4.7

Interest Expense, Supplemental

1.9

1.3

0.0

-

0.1

Depreciation, Supplemental

2.2

3.0

3.9

3.5

3.4

Total Special Items

0.6

0.2

-0.4

-0.4

0.0

Normalized Income Before Tax

31.1

32.8

48.6

28.9

21.2

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.1

0.0

-0.1

-0.1

0.0

Inc Tax Ex Impact of Sp Items

7.6

7.4

13.5

8.4

5.1

Normalized Income After Tax

23.5

25.4

35.1

20.4

16.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

23.5

25.6

34.9

20.4

16.1

 

 

 

 

 

 

Basic Normalized EPS

0.89

0.98

1.31

0.82

0.61

Diluted Normalized EPS

0.89

0.98

1.31

0.82

0.61

Amort of Acquisition Costs, Supplemental

-

0.2

-

-

-

Amort of Intangibles, Supplemental

0.3

0.5

0.8

0.2

0.1

Rental Expenses

0.4

0.3

0.3

0.2

0.2

Advertising Expense, Supplemental

5.2

7.9

10.3

10.6

6.8

Research & Development Exp, Supplemental

6.8

8.9

4.6

3.0

5.8

Normalized EBIT

32.3

32.3

45.5

28.0

20.4

Normalized EBITDA

34.8

36.0

50.2

31.7

23.9

 

 

Interim Income Statement

 

Standardized

 

Financials in: USD (mil) 

Except for share items (millions) and per share items (actual units)           

 

 

 

31-Mar-2008

31-Dec-2007

30-Sep-2007

30-Jun-2007

31-Mar-2007

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal
31-Mar-2008

Updated Normal
31-Dec-2007

Updated Normal
30-Sep-2007

Reclassified Calculated
30-Sep-2007

Updated Normal
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

955.26978

921.11129

927.638172

929.351075

938.879121

 

 

 

 

 

 

    Net Sales

41.0

44.4

42.7

38.6

37.2

Sale

41.0

44.4

42.7

38.6

37.2

Total Sale

41.0

44.4

42.7

38.6

37.2

 

 

 

 

 

 

    Cost of Sale

15.6

16.2

15.4

15.2

14.8

Cost of Sale, Total

15.6

16.2

15.4

15.2

14.8

Gross Profit

25.4

28.2

27.2

23.4

22.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

4.1

3.5

3.4

3.6

3.7

    Labor & Related Expense

6.2

6.6

6.5

6.9

7.3

    Advertising Expense

4.3

1.6

2.3

2.1

2.9

Total Selling/General/Administrative Expenses

14.6

11.8

12.1

12.5

13.9

Research & Development

1.9

1.6

1.3

1.1

1.0

    Depreciation

0.5

0.4

0.4

0.4

0.5

    Amortization of Intangibles

0.1

0.1

0.1

0.1

0.1

Depreciation/Amortization

0.6

0.5

0.5

0.5

0.6

Total Operating Expense

32.6

30.1

29.3

29.3

30.3

 

 

 

 

 

 

Operating Income

8.4

14.3

13.3

9.3

6.9

 

 

 

 

 

 

        Interest Expense - Non-Operating

0.0

0.0

0.0

0.0

-

    Interest Expense, Net Non-Operating

0.0

0.0

0.0

0.0

-

        Interest Income - Non-Operating

0.9

0.9

0.7

0.5

0.4

        Investment Income - Non-Operating

0.1

-0.1

-0.1

0.1

-0.1

    Interest/Investment Income - Non-Operating

1.0

0.8

0.6

0.6

0.3

Interest Income (Expense) - Net Non-Operating Total

1.0

0.8

0.6

0.6

0.3

Gain (Loss) on Sale of Assets

-0.1

0.0

0.1

0.4

0.4

    Other Non-Operating Income (Expense)

0.2

0.3

-0.1

-0.1

-0.1

Other, Net

0.2

0.3

-0.1

-0.1

-0.1

Income Before Tax

9.5

15.3

13.9

10.2

7.4

 

 

 

 

 

 

Total Income Tax

2.4

4.3

4.0

3.0

2.2

Income After Tax

7.1

11.0

9.9

7.2

5.2

 

 

 

 

 

 

Net Income Before Extraord Items

7.1

11.0

9.9

7.2

5.2

Net Income

7.1

11.0

9.9

7.2

5.2

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

7.1

11.0

9.9

7.2

5.2

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

7.1

11.0

9.9

7.2

5.2

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

22.0

27.0

26.9

25.4

24.9

Basic EPS Excl Extraord Items

0.32

0.41

0.37

0.28

0.21

Basic/Primary EPS Incl Extraord Items

0.32

0.41

0.37

0.28

0.21

Diluted Net Income

7.1

11.0

9.9

7.2

5.2

Diluted Weighted Average Shares

22.0

27.0

26.9

25.4

24.9

Diluted EPS Excl Extraord Items

0.32

0.41

0.37

0.28

0.21

Diluted EPS Incl Extraord Items

0.32

0.41

0.37

0.28

0.21

Dividends per Share - Common Stock Primary Issue

0.44

-

-

-

0.30

Gross Dividends - Common Stock

11.4

-

-

-

7.6

Interest Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

Depreciation, Supplemental

0.9

1.2

0.9

0.8

1.1

Total Special Items

0.1

0.0

-0.1

-0.4

-0.4

Normalized Income Before Tax

9.6

15.3

13.8

9.8

7.1

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

0.0

0.0

-0.1

-0.1

Inc Tax Ex Impact of Sp Items

2.4

4.3

4.0

2.9

2.1

Normalized Income After Tax

7.2

11.0

9.9

6.9

5.0

 

 

 

 

 

 

Normalized Inc. Avail to Com.

7.2

11.0

9.9

6.9

5.0

 

 

 

 

 

 

Basic Normalized EPS

0.33

0.41

0.37

0.27

0.20

Diluted Normalized EPS

0.33

0.41

0.37

0.27

0.20

Amort of Intangibles, Supplemental

0.1

0.1

0.1

0.1

0.1

Rental Expenses

0.1

0.1

0.1

0.1

0.1

Advertising Expense, Supplemental

4.3

1.6

2.3

2.1

2.9

Research & Development Exp, Supplemental

2.1

1.8

1.4

1.2

1.0

Normalized EBIT

8.4

14.3

13.3

9.3

6.9

Normalized EBITDA

9.4

15.6

14.3

10.2

8.1

 

 

Annual Balance Sheet

 

Standardized

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)   

 

 

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

UpdateType/Date

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Updated Normal 
31-Mar-2007

Restated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1131.45

1383.25

990.35

940.6

971.65

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Sahmduk Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

22.4

14.3

31.4

39.7

25.8

    Short Term Investments

4.7

8.4

28.5

0.3

0.2

Cash and Short Term Investments

27.1

22.7

59.9

39.9

26.0

        Accounts Receivable - Trade, Gross

79.8

51.8

56.4

49.4

43.5

        Provision for Doubtful Accounts

-1.1

-0.5

-0.6

-0.5

-0.4

    Trade Accounts Receivable - Net

78.9

51.6

56.2

49.0

43.1

    Other Receivables

0.6

0.8

0.2

0.3

0.0

Total Receivables, Net

79.5

52.4

56.4

49.3

43.2

    Inventories - Finished Goods

17.1

16.0

11.9

8.0

7.1

    Inventories - Work In Progress

5.5

3.7

6.1

2.9

3.3

    Inventories - Raw Materials

10.3

6.8

15.6

9.4

9.9

    Inventories - Other

1.3

0.5

0.7

0.3

2.6

Total Inventory

34.1

27.0

34.4

20.5

23.0

Prepaid Expenses

0.3

0.3

0.3

0.1

0.1

    Deferred Income Tax - Current Asset

0.1

-

-

0.1

0.1

Other Current Assets, Total

0.1

-

-

0.1

0.1

Total Current Assets

141.1

102.4

151.0

109.9

92.4

 

 

 

 

 

 

        Buildings

18.1

15.4

20.8

20.5

19.7

        Land/Improvements

13.6

11.4

16.0

16.3

15.8

        Machinery/Equipment

17.8

14.9

20.9

21.5

19.5

        Construction in Progress

36.6

28.8

17.1

0.4

0.0

    Property/Plant/Equipment - Gross

86.1

70.5

74.9

58.7

55.0

    Accumulated Depreciation

-20.5

-17.6

-22.3

-22.8

-20.3

Property/Plant/Equipment - Net

65.6

52.9

52.6

35.9

34.7

Goodwill, Net

-

0.6

1.0

-

-

Intangibles, Net

7.5

6.3

6.1

3.6

2.7

    LT Investment - Affiliate Companies

2.6

-

-

3.9

2.4

    LT Investments - Other

2.8

2.3

3.1

3.1

2.5

Long Term Investments

5.4

2.3

3.1

7.1

4.9

Note Receivable - Long Term

-

-

0.1

-

0.0

    Deferred Income Tax - Long Term Asset

-

0.7

0.8

0.8

0.7

    Other Long Term Assets

1.7

1.6

2.4

1.6

1.1

Other Long Term Assets, Total

1.7

2.2

3.2

2.4

1.8

Total Assets

221.4

166.7

217.1

158.9

136.5

 

 

 

 

 

 

Accounts Payable

6.6

3.7

7.3

5.3

8.6

Accrued Expenses

2.4

2.3

1.6

2.7

2.1

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

0.0

    Customer Advances

0.0

0.0

0.0

0.0

0.0

    Security Deposits

1.8

1.4

1.5

1.7

1.4

    Income Taxes Payable

3.2

3.4

13.6

5.9

3.2

    Other Payables

6.2

5.3

16.9

6.8

4.8

    Deferred Income Tax - Current Liability

-

0.0

0.0

-

-

    Other Current Liabilities

0.5

0.4

0.6

0.7

0.5

Other Current liabilities, Total

11.7

10.4

32.7

15.1

9.9

Total Current Liabilities

20.7

16.4

41.6

23.2

20.6

 

 

 

 

 

 

    Long Term Debt

26.5

21.7

-

-

-

Total Long Term Debt

26.5

21.7

0.0

0.0

0.0

Total Debt

26.5

21.7

0.0

0.0

0.0

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

0.4

-

-

-

-

Deferred Income Tax

0.4

-

-

-

-

Minority Interest

-

3.0

4.5

-

-

    Reserves

2.9

1.8

2.3

2.0

1.9

    Pension Benefits - Underfunded

1.4

0.9

0.9

1.7

1.4

    Other Long Term Liabilities

-

0.0

0.0

-

-

Other Liabilities, Total

4.3

2.8

3.3

3.7

3.3

Total Liabilities

51.9

43.9

49.3

26.9

23.9

 

 

 

 

 

 

    Common Stock

12.0

9.8

13.0

13.1

12.6

Common Stock

12.0

9.8

13.0

13.1

12.6

Additional Paid-In Capital

13.1

10.3

14.3

1.9

1.8

Retained Earnings (Accumulated Deficit)

151.3

108.3

131.2

111.4

92.6

Treasury Stock - Common

-17.0

-13.9

-2.3

-6.6

-6.4

Unrealized Gain (Loss)

10.2

8.3

11.6

12.3

11.9

    Other Equity

0.0

0.0

0.0

-

-

Other Equity, Total

0.0

0.0

0.0

-

-

Total Equity

169.5

122.8

167.8

132.0

112.6

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

221.4

166.7

217.1

158.9

136.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

26.4

26.4

26.6

24.9

26.2

Total Common Shares Outstanding

26.4

26.4

26.6

24.9

26.2

Treasury Shares - Common Stock Primary Issue

0.7

0.7

0.4

0.9

0.9

Employees

569

554

543

508

496

Number of Common Shareholders

12,328

9,414

7,090

6,648

5,432

Accumulated Goodwill Amortization Suppl.

-

0.3

-

-

-

Accumulated Intangible Amort, Suppl.

1.4

1.2

-

-

-

Deferred Sale - Current

0.0

0.0

0.0

0.0

0.0

Total Long Term Debt, Supplemental

26.5

21.7

-

-

-

Long Term Debt Maturing within 1 Year

13.3

7.2

-

-

-

Long Term Debt Maturing in Year 2

13.3

7.2

-

-

-

Long Term Debt Maturing in Year 3

-

7.2

-

-

-

Long Term Debt Maturing in 2-3 Years

13.3

14.5

-

-

-

Long Term Debt Matur. in Year 6 & Beyond

0.0

0.0

-

-

-

Total Operating Leases, Supplemental

-

-

0.0

0.0

0.1

Operating Lease Payments Due in Year 1

-

-

0.0

0.0

0.0

Operating Lease Payments Due in Year 2

-

-

-

0.0

0.0

Operating Lease Payments Due in Year 3

-

-

-

-

0.0

Operating Lease Pymts. Due in 2-3 Years

-

-

-

0.0

0.0

Oper. Lse. Pymts. Due in Year 6 & Beyond

-

-

0.0

0.0

0.0

 

 

 

Interim Balance Sheet

 

Standardized

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)   

 

 

 

31-Mar-2008

31-Dec-2007

30-Sep-2007

30-Jun-2007

31-Mar-2007

UpdateType/Date

Updated Normal 
31-Mar-2008

Updated Normal 
31-Dec-2007

Updated Normal 
30-Sep-2007

Updated Normal 
30-Jun-2007

Updated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

990.35

936.05

915.15

923.9

940.6

 

 

 

 

 

 

    Cash & Equivalents

29.4

59.5

34.6

39.6

39.7

    Short Term Investments

28.5

3.8

30.9

0.4

0.3

Cash and Short Term Investments

58.0

63.3

65.5

40.0

39.9

        Accounts Receivable - Trade, Gross

56.4

56.5

56.4

51.9

49.4

        Provision for Doubtful Accounts

-0.6

-0.6

-0.5

-0.6

-0.5

    Trade Accounts Receivable - Net

56.2

56.4

56.3

51.3

49.0

    Other Receivables

0.2

1.2

0.5

0.6

0.3

Total Receivables, Net

56.4

57.6

56.8

51.9

49.3

    Inventories - Finished Goods

12.0

10.9

10.7

9.2

8.1

    Inventories - Work In Progress

6.1

5.5

3.9

4.0

2.9

    Inventories - Raw Materials

15.6

18.9

12.0

10.5

9.4

    Inventories - Other

0.4

0.7

0.3

0.2

0.2

Total Inventory

34.1

36.0

26.9

23.9

20.5

Prepaid Expenses

0.3

0.1

0.1

0.0

0.1

    Deferred Income Tax - Current Asset

-

0.0

0.0

0.1

0.1

Other Current Assets, Total

-

0.0

0.0

0.1

0.1

Total Current Assets

148.8

157.1

149.3

115.9

109.9

 

 

 

 

 

 

        Buildings

19.6

20.7

21.1

20.9

20.5

        Land/Improvements

15.5

16.4

16.8

16.6

16.3

        Machinery/Equipment

19.8

24.9

22.5

22.5

21.5

        Construction in Progress

17.1

8.7

5.8

0.5

0.4

    Property/Plant/Equipment - Gross

72.1

70.7

66.2

60.6

58.7

    Accumulated Depreciation

-21.5

-25.1

-24.5

-23.8

-22.8

Property/Plant/Equipment - Net

50.6

45.5

41.7

36.8

35.9

Intangibles, Net

2.9

3.2

3.4

3.5

3.6

    LT Investment - Affiliate Companies

3.7

3.9

4.0

4.0

3.9

    LT Investments - Other

3.1

3.3

3.3

3.2

3.1

Long Term Investments

6.8

7.1

7.3

7.2

7.1

Note Receivable - Long Term

0.1

-

-

-

-

    Deferred Income Tax - Long Term Asset

0.8

0.9

1.2

0.9

0.8

    Other Long Term Assets

2.4

1.6

1.6

1.6

1.6

Other Long Term Assets, Total

3.2

2.5

2.8

2.5

2.4

Total Assets

212.4

215.5

204.6

165.9

158.9

 

 

 

 

 

 

Accounts Payable

7.2

11.0

8.1

8.0

5.3

Accrued Expenses

1.5

1.2

2.4

2.3

2.7

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

0.0

    Customer Advances

0.0

0.0

0.0

0.0

0.0

    Security Deposits

1.5

1.7

1.7

1.7

1.7

    Income Taxes Payable

13.6

12.2

12.4

8.9

5.9

    Other Payables

16.9

10.5

8.5

6.2

6.8

    Deferred Income Tax - Current Liability

0.0

0.0

0.0

-

-

    Other Current Liabilities

0.6

0.7

0.5

0.5

0.7

Other Current liabilities, Total

32.6

25.1

23.1

17.5

15.1

Total Current Liabilities

41.4

37.4

33.5

27.8

23.2

 

 

 

 

 

 

Total Long Term Debt

0.0

0.0

0.0

0.0

0.0

Total Debt

0.0

0.0

0.0

0.0

0.0

 

 

 

 

 

 

    Pension Benefits - Underfunded

0.9

3.1

3.2

2.1

1.7

    Other Long Term Liabilities

2.3

2.3

2.2

2.1

2.0

Other Liabilities, Total

3.2

5.4

5.4

4.2

3.7

Total Liabilities

44.5

42.8

38.9

32.0

26.9

 

 

 

 

 

 

    Common Stock

13.0

13.8

14.1

13.9

13.1

Common Stock

13.0

13.8

14.1

13.9

13.1

Additional Paid-In Capital

26.0

27.5

28.1

14.4

14.2

Retained Earnings (Accumulated Deficit)

131.2

131.5

123.4

112.3

111.4

Treasury Stock - Common

-2.3

0.0

0.0

-6.8

-6.6

Unrealized Gain (Loss)

-

0.0

-

-

-

    Other Equity

0.0

-

-

-

-

Other Equity, Total

0.0

-

-

-

-

Total Equity

167.9

172.8

165.6

133.9

132.0

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

212.4

215.5

204.6

165.9

158.9

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

26.6

27.0

27.0

26.2

24.9

Total Common Shares Outstanding

26.6

27.0

27.0

26.2

24.9

Treasury Shares - Common Stock Primary Issue

0.4

-

-

0.9

0.9

Employees

543

543

538

513

508

Number of Common Shareholders

7,090

-

-

-

6,648

Deferred Sale - Current

0.0

0.0

0.0

0.0

0.0

Total Operating Leases, Supplemental

0.0

0.0

0.0

0.0

0.0

Operating Lease Payments Due in Year 1

0.0

0.0

0.0

0.0

0.0

Operating Lease Payments Due in Year 2

-

-

-

-

0.0

Operating Lease Pymts. Due in 2-3 Years

-

-

-

-

0.0

Oper. Lse. Pymts. Due in Year 6 & Beyond

0.0

0.0

0.0

0.0

0.0

 

 

Annual Cash Flows

 

Standardized

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)   

 

 

 

31-Mar-2010

31-Mar-2009

3-Mar-2008

31-Mar-2007

31-Mar-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Reclassified Normal 
31-Mar-2009

Updated Normal 
31-Mar-2007

Restated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1209.855603

1214.015574

933.271038

945.639003

1012.786749

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Sahmduk Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

23.0

25.2

35.4

20.7

16.1

    Depreciation

2.2

3.0

3.9

3.5

3.4

Depreciation/Depletion

2.2

3.0

3.9

3.5

3.4

    Amortization of Intangibles

0.3

0.7

0.8

0.2

0.1

Amortization

0.3

0.7

0.8

0.2

0.1

Deferred Taxes

0.6

-0.1

0.1

-0.1

0.2

    Unusual Items

0.7

0.2

0.0

-0.4

0.0

    Equity in Net Earnings (Loss)

0.2

-

-

0.1

0.2

    Other Non-Cash Items

5.1

3.6

2.3

3.3

2.8

Non-Cash Items

6.0

3.8

2.2

3.0

3.0

    Accounts Receivable

-15.0

-13.9

-10.4

-5.0

-5.7

    Inventories

-1.9

-2.9

-15.8

3.1

1.6

    Prepaid Expenses

0.0

0.0

-0.3

0.0

0.0

    Accounts Payable

1.7

-9.5

14.0

-1.6

1.3

    Accrued Expenses

0.0

0.1

-0.1

0.1

0.0

    Taxes Payable

-1.2

-5.9

2.5

3.0

-0.2

    Other Liabilities

-3.0

-2.6

-2.4

-2.3

-1.4

Changes in Working Capital

-19.5

-34.8

-12.5

-2.7

-4.5

Cash from Operating Activities

12.7

-2.3

29.9

24.6

18.3

 

 

 

 

 

 

    Purchase of Fixed Assets

-3.3

-20.4

-22.2

-3.6

-4.5

    Purchase/Acquisition of Intangibles

-2.2

-2.7

-0.6

-0.9

-1.4

Capital Expenditures

-5.5

-23.1

-22.7

-4.6

-6.0

    Sale of Fixed Assets

0.1

0.0

0.5

0.5

0.0

    Sale/Maturity of Investment

8.3

31.4

60.5

95.3

29.6

    Purchase of Investments

-4.2

-17.8

-90.6

-97.4

-29.6

    Sale of Intangible Assets

-

-

0.0

-

0.0

    Other Investing Cash Flow

0.2

0.2

-1.1

-0.4

0.3

Other Investing Cash Flow Items, Total

4.5

13.8

-30.7

-2.1

0.4

Cash from Investing Activities

-1.0

-9.3

-53.4

-6.6

-5.6

 

 

 

 

 

 

    Other Financing Cash Flow

-

0.0

1.9

-

0.0

Financing Cash Flow Items

-

0.0

1.9

-

0.0

Total Cash Dividends Paid

-6.5

-8.5

-7.6

-5.0

-4.7

        Sale/Issuance of Common

-

-

25.1

-

0.0

        Repurchase/Retirement of Common

-

-14.0

-2.5

-

-1.9

    Common Stock, Net

-

-14.0

22.6

-

-1.9

Issuance (Retirement) of Stock, Net

-

-14.0

22.6

-

-1.9

        Short Term Debt Issued

-

4.1

-

-

4.9

        Short Term Debt Reduction

-

-4.1

-

-

-9.9

    Short Term Debt, Net

-

0.0

-

-

-4.9

        Long Term Debt Issued

-

24.7

-

-

-

    Long Term Debt, Net

-

24.7

-

-

-

Issuance (Retirement) of Debt, Net

-

24.7

-

-

-4.9

Cash from Financing Activities

-6.5

2.3

16.8

-5.0

-11.5

 

 

 

 

 

 

Net Change in Cash

5.2

-9.2

-6.7

12.9

1.1

 

 

 

 

 

 

Net Cash - Beginning Balance

15.8

25.6

40.0

26.5

23.7

Net Cash - Ending Balance

21.0

16.3

33.3

39.5

24.8

 

Interim Cash Flows

 

Standardized

 

Financials in: USD (mil)          

Except for share items (millions) and per share items (actual units)   

 

 

 

31-Mar-2008

31-Dec-2007

30-Sep-2007

30-Jun-2007

31-Mar-2007

Period Length

12 Months

9 Months

6 Months

3 Months

12 Months

UpdateType/Date

Updated Normal 
31-Mar-2008

Updated Normal 
31-Dec-2007

Updated Normal 
30-Sep-2007

Updated Normal 
30-Jun-2007

Updated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

933.271038

926.027899

928.519459

929.351075

945.639003

 

 

 

 

 

 

Net Income/Starting Line

35.2

28.1

17.1

7.2

20.7

    Depreciation

3.8

2.8

1.6

0.8

3.5

Depreciation/Depletion

3.8

2.8

1.6

0.8

3.5

    Amortization of Intangibles

0.4

0.3

0.2

0.1

0.2

Amortization

0.4

0.3

0.2

0.1

0.2

Deferred Taxes

0.1

0.0

-0.3

0.0

-0.1

    Unusual Items

-0.3

-0.4

-0.5

-0.4

-0.4

    Equity in Net Earnings (Loss)

0.0

0.1

0.1

-

0.1

    Other Non-Cash Items

2.2

2.6

1.8

1.0

3.3

Non-Cash Items

2.0

2.2

1.4

0.6

3.0

    Accounts Receivable

-10.4

-8.3

-6.0

-1.8

-5.0

    Inventories

-15.7

-16.1

-5.7

-3.4

3.1

    Prepaid Expenses

-0.3

-0.1

-0.1

0.0

0.0

    Accounts Payable

13.3

9.4

4.0

1.8

-1.6

    Accrued Expenses

-0.1

-0.1

-0.1

-0.1

0.1

    Taxes Payable

2.4

4.9

0.9

2.6

3.0

    Other Liabilities

-2.4

-0.2

-0.4

-0.4

-2.3

Changes in Working Capital

-13.1

-10.5

-7.5

-1.2

-2.7

Cash from Operating Activities

28.3

23.1

12.7

7.5

24.6

 

 

 

 

 

 

    Purchase of Fixed Assets

-21.3

-12.4

-6.4

-1.0

-3.6

    Purchase/Acquisition of Intangibles

0.0

0.0

0.0

0.0

-0.9

Capital Expenditures

-21.3

-12.4

-6.4

-1.0

-4.6

    Sale of Fixed Assets

0.5

0.5

0.5

0.4

0.5

    Sale/Maturity of Investment

60.5

11.8

25.2

0.1

95.3

    Purchase of Investments

-90.6

-15.4

-55.5

-0.1

-97.4

    Sale of Intangible Assets

0.0

0.0

-

-

-

    Other Investing Cash Flow

-1.1

0.0

0.0

0.0

-0.4

Other Investing Cash Flow Items, Total

-30.7

-3.2

-29.8

0.4

-2.1

Cash from Investing Activities

-52.0

-15.6

-36.1

-0.6

-6.6

 

 

 

 

 

 

Total Cash Dividends Paid

-7.6

-7.7

-7.7

-7.7

-5.0

        Sale/Issuance of Common

25.0

20.1

25.2

-

-

        Repurchase/Retirement of Common

-2.5

0.0

0.0

0.0

-

    Common Stock, Net

22.5

20.1

25.1

0.0

-

Issuance (Retirement) of Stock, Net

22.5

20.1

25.1

0.0

-

Cash from Financing Activities

14.9

12.4

17.4

-7.7

-5.0

 

 

 

 

 

 

Net Change in Cash

-8.7

19.9

-6.0

-0.8

12.9

 

 

 

 

 

 

Net Cash - Beginning Balance

40.0

40.3

40.2

40.1

26.5

Net Cash - Ending Balance

31.2

60.2

34.1

39.4

39.5

 

 

Annual Income Statement

As Reported

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)   

 

 

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Updated Normal 
31-Mar-2007

Updated Normal 
31-Mar-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1209.855603

1214.015574

933.271038

945.639003

1012.786749

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Sales Sale-Export

0.1

0.0

0.0

-

-

    Service Sale

-

0.1

0.1

-

-

    Sales Sale of Merchandises

22.5

21.9

23.2

16.9

17.4

    Sales Sale of Finished Goods

117.2

109.7

140.3

123.5

99.1

    Manufactured Sales

1.3

1.4

2.2

2.1

2.2

    Technology Sale

-

-

1.0

3.0

6.1

Total Sale

141.2

133.1

166.8

145.4

124.8

 

 

 

 

 

 

    Cost-Services

-

0.0

0.6

-

-

    Cost-Exporting Sales

0.1

0.0

0.0

-

-

    Cost of Merchandises Sold

15.9

15.6

15.4

13.1

12.7

    Cost of Finished Goods Sold

42.9

36.9

45.2

46.4

43.4

    Cost-Manufactured Sales

1.1

1.2

1.7

1.6

1.9

    Cost Technology

-

-

0.2

2.5

1.4

    Salaries and Wages

14.0

13.9

19.9

18.9

16.6

    Retirement and Severance Benefits

3.0

2.3

1.3

2.3

1.3

    Employee Benefits

5.8

3.9

4.4

3.7

3.5

    Travel Expenses

2.2

1.8

2.8

2.4

2.0

    Communication Expenses

0.2

0.2

0.2

0.2

0.2

    Utility Expenses

0.1

0.1

0.1

0.1

0.1

    Taxes and Dues

0.7

0.7

0.9

0.9

0.7

    Rental Expenses

0.4

0.3

0.3

0.2

0.2

    Depreciation

0.9

0.9

1.7

1.4

1.1

    Repair Expenses

0.1

0.1

0.2

0.1

0.1

    Insurance Premiums

0.1

0.1

0.2

0.2

0.1

    Entertainment Expenses

2.5

3.2

3.5

2.6

1.7

    Advertising Expenses

1.6

1.9

4.4

4.4

3.0

    Sample Expenses

0.2

0.1

0.3

0.2

0.2

    Conference Expenses

0.7

0.6

0.6

0.6

0.5

    Research Expenses

2.2

1.2

1.3

1.2

2.0

    Freight Expenses

0.8

0.8

0.6

0.6

0.5

    Development Expenses

1.6

2.6

3.3

1.9

3.8

    Commissions

3.6

2.6

2.0

2.0

1.2

    Sales Incentive Expenses

-

-

-

-

0.0

    Expenses of Allowance for Doubtful Accou

0.6

0.2

0.2

0.2

0.1

    Training Expenses

0.6

0.6

0.8

1.0

0.6

    Vehicle Maintenance Expenses

0.6

0.5

0.7

0.6

0.5

    Consumable Expense

-

0.3

0.5

0.3

0.3

    Publication Expenses

0.7

0.4

0.6

0.4

0.3

    Amortization of Intangible Assets

0.3

0.7

0.8

0.2

0.1

    Labor Services Exp

-

0.7

0.6

0.7

0.7

    Sales Promotional Expenses

3.6

6.0

5.9

6.2

3.8

    Miscellaneous Expenses

0.0

0.0

0.1

0.1

0.1

    Supply Expenses

0.3

-

-

-

-

    Service Expense

1.5

-

-

-

-

Total Operating Expense

108.9

100.8

121.3

117.4

104.4

 

 

 

 

 

 

    Interest Income

0.8

1.7

3.0

1.3

0.8

    Dividend Income

0.0

0.0

0.0

0.0

0.0

    Rental Income

0.0

0.0

0.0

0.0

0.0

    Gains on Foreign Currency Transactions

0.3

0.3

0.1

0.1

0.2

    Gains on Foreign Currency Translation

0.0

0.0

0.0

0.0

0.0

    G-Disp ST Investment Secs

-

-

-

-

0.0

    Gains on Sale of Property, Plant and Equ

0.0

0.0

0.5

0.4

0.0

    Gain-Prior Period Error Correction

-

-

0.0

-

0.4

    Other Non-Operating Sales

0.5

0.8

2.0

0.8

1.6

    Interest Expenses

-1.9

-1.3

0.0

-

-0.1

    Losses on Foreign Currency Transactions

0.0

0.0

-0.2

-0.1

0.0

    Losses on Foreign Currency Translation

0.0

0.0

-

-

0.0

    Loss-Reduction of Intangible Assets

-

-

-0.2

-

-

    Loss-Disposal of ST Marketable Sec.

-

-

0.0

-

-

    Losses on Inventory Obsolescence

-0.5

-0.1

0.0

0.0

0.0

    L-Disp LT Invest Secs

-

-

-

-

0.0

    Losses on Sale of Property, Plant and Eq

-0.1

0.0

-0.1

-

0.0

    Donations

-0.5

-0.6

-0.9

-1.1

-1.7

    Addl Income Tax Paid

-

-

-

-

0.0

    Loss-Prior Period Error Correction

-

-

0.0

-

0.0

    Other Non-Operating Expenses

-0.3

-0.6

-0.8

0.0

-0.1

    Losses on Valuation of Equity Method Sec

-0.2

-

-

-0.1

-0.2

Net Income Before Taxes

30.5

32.6

49.0

29.2

21.2

 

 

 

 

 

 

Provision for Income Taxes

7.4

7.4

13.6

8.6

5.1

Net Income After Taxes

23.0

25.2

35.4

20.7

16.1

 

 

 

 

 

 

    Minority Interest Gain

-

0.2

-0.2

-

-

Net Income Before Extra. Items

23.0

25.4

35.2

20.7

16.1

Net Income

23.0

25.4

35.2

20.7

16.1

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

23.0

25.4

35.2

20.7

16.1

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

23.0

25.4

35.2

20.7

16.1

 

 

 

 

 

 

Basic Weighted Average Shares

26.4

26.3

26.6

24.9

26.2

Basic EPS Excluding ExtraOrdinary Items

0.87

0.97

1.32

0.83

0.61

Basic EPS Including ExtraOrdinary Item

0.87

0.97

1.32

0.83

0.61

Diluted Net Income

23.0

25.4

35.2

20.7

16.1

Diluted Weighted Average Shares

26.4

26.3

26.6

24.9

26.2

Diluted EPS Excluding ExtraOrd Items

0.87

0.97

1.32

0.83

0.61

Diluted EPS Including ExtraOrd Items

0.87

0.97

1.32

0.83

0.61

DPS-Ordinary Shares

0.41

0.25

0.43

0.30

0.18

Gross Dividends - Common Stock

10.9

6.5

11.0

7.5

4.7

Normalized Income Before Taxes

31.1

32.8

48.6

28.9

21.2

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

7.6

7.4

13.5

8.4

5.1

Normalized Income After Taxes

23.5

25.4

35.1

20.4

16.1

 

 

 

 

 

 

Normalized Inc. Avail to Com.

23.5

25.6

34.9

20.4

16.1

 

 

 

 

 

 

Basic Normalized EPS

0.89

0.98

1.31

0.82

0.61

Diluted Normalized EPS

0.89

0.98

1.31

0.82

0.61

R&D Expense, Supplemental

6.8

8.9

4.6

3.0

5.8

Advertising Expense

5.2

7.9

10.3

10.6

6.8

Interest Expense, Supplemental

1.9

1.3

0.0

-

0.1

Amort of Intangibles, Supplemental

0.3

0.5

0.8

0.2

0.1

Amort of Acquisition Cost

-

0.2

-

-

-

Rental Expense, Supplemental

0.4

0.3

0.3

0.2

0.2

Depreciation, Supplemental

2.2

3.0

3.9

3.5

3.4

 

 

Interim Income Statement

As Reported

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)   

 

 

 

31-Mar-2008

31-Dec-2007

30-Sep-2007

30-Jun-2007

31-Mar-2007

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
31-Mar-2008

Updated Normal 
31-Dec-2007

Updated Normal 
30-Sep-2007

Reclassified Calculated 
30-Sep-2007

Updated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

955.26978

921.11129

927.638172

929.351075

938.879121

 

 

 

 

 

 

    Export Sales

0.0

0.0

0.0

0.0

-

    Finished Product Sales

35.1

36.2

35.2

33.7

32.5

    Merchandise Sales

5.6

6.5

6.9

4.1

4.3

    Sales from Manufacturing

0.3

0.7

0.5

0.8

0.4

    Technology Sales

0.0

1.0

-

-

0.0

Total Sale

41.0

44.4

42.7

38.6

37.2

 

 

 

 

 

 

    Cost of Finished Goods Sold

11.4

11.1

10.8

11.9

12.0

    Cost of Merchandise Sold

4.1

4.3

4.2

2.8

2.5

    Cost of Exporting Sales

0.0

0.0

0.0

0.0

-

    Cost of Manufacturing

0.1

0.6

0.4

0.6

0.3

    Cost of Technology

0.0

0.2

-

-

0.0

    Salaries and Wages

4.9

5.3

4.5

5.2

5.2

    Retirement Allowance

0.0

0.0

0.9

0.4

0.7

    Employee Benefits

1.2

1.2

0.9

1.1

1.3

    Travel Expenses

0.6

0.7

0.8

0.8

0.7

    Communication Expenses

0.1

0.0

0.0

0.1

0.1

    Utility Expenses

0.0

0.0

0.0

0.0

0.0

    Taxes and Dues

0.2

0.2

0.3

0.2

0.3

    Expenses for Consumable Goods

0.2

0.1

0.1

0.1

0.1

    Publishing/Printing Expenses

0.3

0.0

0.2

0.1

0.1

    Rent

0.1

0.1

0.1

0.1

0.1

    Vehicles Maintenance Expenses

0.2

0.2

0.2

0.2

0.1

    Repair Expenses

0.0

0.1

0.0

0.0

0.0

    Insurance Expenses

0.0

0.0

0.0

0.1

0.0

    Commissions Paid

0.6

0.4

0.5

0.4

0.7

    Shipping and Handling Expenses

0.2

0.2

0.1

0.1

0.2

    Entertainment Expenses

1.1

0.9

0.7

0.8

0.8

    Marketing Expenses

1.3

1.1

1.8

1.7

1.9

    Advertising Expenses

3.0

0.5

0.4

0.3

0.9

    Education & Training Expenses

0.2

0.2

0.1

0.4

0.3

    Labor Service Expenses

0.1

0.1

0.2

0.2

0.2

    Expenses for Samples

0.1

0.1

0.0

0.1

0.0

    Conference Expenses

0.2

0.2

0.1

0.1

0.1

    Provision for Bad Debt

0.0

0.1

0.0

0.0

0.1

    Research Expenses

0.2

0.4

0.4

0.3

0.3

    Research and Development

1.7

1.3

0.9

0.8

0.7

    Depreciation Expense

0.5

0.4

0.4

0.4

0.5

    Amortization of Intangibles

0.1

0.1

0.1

0.1

0.1

    Miscellaneous Operating Expenses

0.0

0.0

0.0

0.0

0.0

Total Operating Expense

32.6

30.1

29.3

29.3

30.3

 

 

 

 

 

 

    Interest Income

0.9

0.9

0.7

0.5

0.4

    Dividend Income

0.0

0.0

0.0

0.0

0.0

    Gain-Foreign Exchange Transaction

0.1

0.0

0.0

0.0

0.0

    Gain-Foreign Currency Translation

0.0

0.0

0.0

0.0

-0.1

    Gain-Disposal of Tangible Assets

0.0

0.0

0.1

0.4

0.4

    Rental Income

0.0

0.0

0.0

0.0

0.0

    Other Non-Operating Income

0.5

0.5

0.5

0.5

0.2

    Interest Expenses, Non-Operating

0.0

0.0

0.0

0.0

-

    Loss under Equity Method

0.1

-

-0.1

0.0

0.0

    Loss-Foreign Exchange Transaction

0.0

-0.1

0.0

0.0

0.0

    Loss-Foreign Currency Translation

0.0

0.0

0.0

0.0

0.0

    Loss-Depletion of Inventories

0.0

-

0.0

0.0

0.0

    Loss-Disposal of Tangible Assets

-0.1

-

-

-

-

    Donations Paid, Non-Operating

-0.2

-0.2

-0.3

-0.2

-0.3

    Other Non-Operating Expense

-0.2

-0.1

-0.2

-0.4

0.0

Net Income Before Taxes

9.5

15.3

13.9

10.2

7.4

 

 

 

 

 

 

Provision for Income Taxes

2.4

4.3

4.0

3.0

2.2

Net Income After Taxes

7.1

11.0

9.9

7.2

5.2

 

 

 

 

 

 

Net Income Before Extra. Items

7.1

11.0

9.9

7.2

5.2

Net Income

7.1

11.0

9.9

7.2

5.2

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

7.1

11.0

9.9

7.2

5.2

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

7.1

11.0

9.9

7.2

5.2

 

 

 

 

 

 

Basic Weighted Average Shares

22.0

27.0

26.9

25.4

24.9

Basic EPS Excluding ExtraOrdinary Items

0.32

0.41

0.37

0.28

0.21

Basic EPS Including ExtraOrdinary Item

0.32

0.41

0.37

0.28

0.21

Diluted Net Income

7.1

11.0

9.9

7.2

5.2

Diluted Weighted Average Shares

22.0

27.0

26.9

25.4

24.9

Diluted EPS Excluding ExtraOrd Items

0.32

0.41

0.37

0.28

0.21

Diluted EPS Including ExtraOrd Items

0.32

0.41

0.37

0.28

0.21

DPS-Ordinary Shares

0.44

-

-

-

0.30

Gross Dividends - Common Stock

11.4

-

-

-

7.6

Normalized Income Before Taxes

9.6

15.3

13.8

9.8

7.1

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

2.4

4.3

4.0

2.9

2.1

Normalized Income After Taxes

7.2

11.0

9.9

6.9

5.0

 

 

 

 

 

 

Normalized Inc. Avail to Com.

7.2

11.0

9.9

6.9

5.0

 

 

 

 

 

 

Basic Normalized EPS

0.33

0.41

0.37

0.27

0.20

Diluted Normalized EPS

0.33

0.41

0.37

0.27

0.20

Interest Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

Rental Expense, Supplemental

0.1

0.1

0.1

0.1

0.1

Advertising Expense, Supplemental

4.3

1.6

2.3

2.1

2.9

R&D Expense, Supplemental

2.1

1.8

1.4

1.2

1.0

Depreciation, Supplemental

0.9

1.2

0.9

0.8

1.1

Amort of Intangibles, Supplemental

0.1

0.1

0.1

0.1

0.1

 

 

 

Annual Balance Sheet

 

As Reported

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)   

 

 

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

UpdateType/Date

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Updated Normal 
31-Mar-2008

Updated Normal 
31-Mar-2007

Restated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1131.45

1383.25

990.35

940.6

971.65

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and CashEquivalents

22.4

14.3

31.4

39.7

25.8

    Short-term Financial Instruments

4.4

8.2

28.3

0.1

0.1

    Short-term Investment Assets

0.3

0.2

0.2

0.2

0.2

    Trade Rcvb Gross

79.8

51.8

56.4

49.4

43.5

    Allowance for Doubtful Accounts for Trad

-1.1

-0.5

-0.6

-0.5

-0.4

    Other Receivables

0.6

0.8

0.2

0.3

0.0

    Accrued Income

0.2

0.3

0.4

0.1

0.1

    Advance Payments

1.1

0.4

0.6

0.2

2.6

    Prepaid Expenses Total

0.3

0.3

0.3

0.1

0.1

    Short-term Loans

0.0

0.1

-

-

0.0

    Deferred Income Taxes Assets Current

0.1

-

-

0.1

0.1

    Merchandise

6.2

3.5

4.4

2.7

3.5

    Finished Goods

10.3

12.2

7.4

5.1

3.5

    Semifinished Goods

1.7

1.1

1.5

0.4

0.6

    Works in Process

3.8

2.7

4.6

2.5

2.7

    Raw Materials

10.3

6.8

15.6

9.4

9.9

    Supplies

0.2

0.1

0.1

0.0

0.0

    Goods in Transit

0.6

0.3

0.1

0.2

0.1

Total Current Assets

141.1

102.4

151.0

109.9

92.4

 

 

 

 

 

 

    LT Loan

-

-

0.1

-

-

    Long-term Financial Instruments

0.0

0.0

0.0

0.0

0.0

    Long-term Investment in Securities

0.1

0.1

0.0

0.0

0.0

    Equity Method Securities

2.6

-

-

3.9

2.4

    LT Trade Rcvbls.

-

-

-

-

0.0

    Deposits Provided

1.7

1.6

2.4

1.6

1.1

    LA Defer Tax Dbt

-

0.7

0.8

0.8

0.7

    Other Investments

2.6

2.2

3.1

3.1

2.5

    Land

13.6

11.4

16.0

16.3

15.8

    Buildings

16.9

14.7

19.9

19.6

18.8

    Accumulated Depreciation for Buildings

-5.5

-4.2

-5.2

-4.8

-4.0

    Structures

1.2

0.7

1.0

0.9

0.9

    Accumulated Depreciation for Structures

-0.6

-0.5

-0.6

-0.6

-0.5

    Machinery

10.9

9.5

13.2

11.3

11.6

    Machinery & Equipment-Government Subsidy

-

-0.1

-0.1

-

-

    Accumulated Depreciation for Machinery

-9.8

-8.4

-10.6

-9.8

-9.8

    Transport Equip.

1.1

0.8

1.1

0.9

1.0

    Accumulated Depreciation for Vehicles

-0.6

-0.7

-0.7

-0.8

-0.7

    Tools

3.3

2.6

3.7

3.2

2.5

    Tools & Equipments-Government Subsidy

-

0.0

0.0

-

-

    Accumulated Depreciation for Tools

-2.7

-2.3

-3.0

-2.5

-1.9

    Office Equipment

2.6

2.1

3.2

6.0

4.4

    Fixtures-Government Subsidy

-

0.0

0.0

-

-

    Accumulated Depreciation for Office Equi

-1.3

-1.6

-2.1

-4.4

-3.5

    Construction

36.6

28.8

17.1

0.4

0.0

    Industrial Property Rights

0.1

0.1

0.2

0.3

0.2

    Development Costs

7.4

6.1

5.9

3.2

2.5

    Goodwill

-

0.6

1.0

-

-

    Other Intangibles

-

0.0

0.0

0.0

0.1

Total Assets

221.4

166.7

217.1

158.9

136.5

 

 

 

 

 

 

    Trade Acct. Pay.

6.6

3.7

7.3

5.3

8.6

    ST Borrowings

-

-

-

-

0.0

    Withholdings

0.5

0.4

0.6

0.7

0.5

    Other Payables

6.2

5.3

16.9

6.8

4.8

    Accrued Expenses

0.2

0.2

0.2

0.3

0.1

    Inc. Taxes Pay.

3.2

3.4

13.6

5.9

3.2

    Unearned Income

0.0

0.0

0.0

0.0

0.0

    Tax Dep Withheld

2.2

2.1

1.4

2.4

1.9

    Sec Dep Withheld

1.8

1.4

1.5

1.7

1.4

    Deferred Income Tax Credits

-

0.0

0.0

-

-

Total Current Liabilities

20.7

16.4

41.6

23.2

20.6

 

 

 

 

 

 

    Long-term Borrowings

26.5

21.7

-

-

-

Total Long Term Debt

26.5

21.7

-

-

-

 

 

 

 

 

 

    Rent Deposit

-

0.0

0.0

-

-

    Provisions for Estimated Return of Goods

2.9

1.8

2.3

2.0

1.9

    Minority Interest

-

3.0

4.5

-

-

    Provisions for Retirement and Severance

9.8

5.6

0.9

1.7

1.4

    Deposits for Retirement and Severance Be

-8.5

-4.6

-

-

-

    Transfer to National Pension Fund

0.0

0.0

-

-

-

    Deferred Income Taxes Liabilities Non-cu

0.4

-

-

-

-

Total Liabilities

51.9

43.9

49.3

26.9

23.9

 

 

 

 

 

 

    Common Stock

12.0

9.8

13.0

13.1

12.6

    Additional Paid-in Capital

0.8

0.7

0.9

1.0

0.9

    Other Capital

11.7

9.6

13.4

0.9

0.9

    Revaluation Reserve

10.2

8.3

11.6

12.3

11.9

    Stock Options in Other Capital Adjustmen

0.6

-

-

-

-

    Appropriated Retained Earnings for Volun

117.5

80.2

90.8

-

-

    Appropriated Retained Earnings for Statu

7.7

5.7

6.9

6.5

5.8

    Retained Earnings Before Appropriations

26.1

-

-

8.1

7.8

    Unapprop Earning

-

-

-

75.7

62.0

    Other Capital Adjustments in Capital Adj

0.0

0.0

0.0

-

-

    Retained Carried

-

22.4

33.4

21.1

17.0

    Treasury Stock in Capital Adjustments

-17.0

-13.9

-2.3

-6.6

-6.4

Total Equity

169.5

122.8

167.8

132.0

112.6

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

221.4

166.7

217.1

158.9

136.5

 

 

 

 

 

 

    S/O-Ordinary Shares

26.4

26.4

26.6

24.9

26.2

Total Common Shares Outstanding

26.4

26.4

26.6

24.9

26.2

T/S-Ordinary Shares

0.7

0.7

0.4

0.9

0.9

Deferred Sale, Current

0.0

0.0

0.0

0.0

0.0

Accumulated Intangible Amort.

1.4

1.2

-

-

-

Accumulated Goodwill Amort.

-

0.3

-

-

-

Employees

569

554

543

508

496

Number of Common Shareholders

12,328

9,414

7,090

6,648

5,432

Long Term Debt Maturing in Year 2

26.5

-

-

-

-

Long Term Debt Maturing in Year 3

-

21.7

-

-

-

Total Long Term Debt, Supplemental

26.5

21.7

-

-

-

Operating Lse 1 yr

-

-

0.0

0.0

0.0

Operating Lse 2 yrs

-

-

-

0.0

0.0

Operating Lse 3 yrs

-

-

-

-

0.0

Total Operating Leases

-

-

0.0

0.0

0.1

 

 

 

Interim Balance Sheet

 

As Reported

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)

 

 

 

31-Mar-2008

31-Dec-2007

30-Sep-2007

30-Jun-2007

31-Mar-2007

UpdateType/Date

Updated Normal 
31-Mar-2008

Updated Normal 
31-Dec-2007

Updated Normal 
30-Sep-2007

Updated Normal 
30-Jun-2007

Updated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

990.35

936.05

915.15

923.9

940.6

 

 

 

 

 

 

    Cash/Equivalents

29.4

59.5

34.6

39.6

39.7

    ST Financial Assets

28.3

3.5

30.6

0.1

0.1

    ST Investment Assets

0.2

0.3

0.3

0.3

0.2

    Trade Receivables

56.4

56.5

56.4

51.9

49.4

    Reserve-Doubtful Accounts

-0.6

-0.6

-0.5

-0.6

-0.5

    Other Receivable, Net

0.2

1.2

0.5

0.6

0.3

    Prepaid Expense

0.3

0.1

0.1

0.0

0.1

    Advanced Payment

0.4

0.7

0.3

0.2

0.2

    Deferred Income Taxes-Debit, Current

-

0.0

0.0

0.1

0.1

    Accrued Income

0.4

0.4

0.4

0.1

0.1

    Merchandises

4.4

4.6

4.5

4.1

2.7

    Finished Goods

7.4

5.7

5.8

4.6

5.1

    Goods in Transit

0.1

0.5

0.4

0.5

0.2

    Raw Materials

15.6

18.9

12.0

10.5

9.4

    Semi-finished Goods

1.5

1.7

1.1

1.0

0.4

    Work in Progress

4.6

3.7

2.8

3.1

2.5

    Stored Goods

0.0

0.0

0.0

0.0

0.0

Total Current Assets

148.8

157.1

149.3

115.9

109.9

 

 

 

 

 

 

    LT Loan

0.1

-

-

-

-

    LT Financial Assets

0.0

0.0

0.0

0.0

0.0

    Investment Securities

0.0

0.0

0.0

0.0

0.0

    Other Investment Assets

3.1

3.3

3.3

3.2

3.1

    Equity Method Investment Securities

3.7

3.9

4.0

4.0

3.9

    Long-Term Security Deposits

2.4

1.6

1.6

1.6

1.6

    Deferred Income Tax-Debit

0.8

0.9

1.2

0.9

0.8

    Land

15.5

16.4

16.8

16.6

16.3

    Buildings

18.7

19.7

20.1

19.9

19.6

    Buildings-Depreciation

-5.2

-5.3

-5.2

-5.0

-4.8

    Structures

1.0

1.0

1.0

0.9

0.9

    Structures-Depreciation

-0.6

-0.6

-0.6

-0.6

-0.6

    Tools/Equipments

3.5

3.7

3.6

3.5

3.2

    Tools/Equipments-Depreciation

-2.9

-2.9

-2.8

-2.6

-2.5

    Machinery/Equipment

12.2

13.9

11.4

11.4

11.3

    Machinery/Equipment-Depreciation

-10.1

-10.5

-10.2

-10.0

-9.8

    Vehicles/Transportation Equipment

1.1

1.1

1.1

1.3

0.9

    Vehicles/Transportation-Depreciation

-0.7

-0.7

-0.7

-0.8

-0.8

    Fixtures

3.1

6.3

6.3

6.3

6.0

    Fixtures-Depreciation

-2.0

-5.1

-5.0

-4.7

-4.4

    Construction in Progress

17.1

8.7

5.8

0.5

0.4

    Industrial Property Rights

0.1

0.2

0.2

0.3

0.3

    Development Costs

2.8

3.0

3.2

3.2

3.2

    Other Intangible

0.0

0.0

0.0

0.0

0.0

Total Assets

212.4

215.5

204.6

165.9

158.9

 

 

 

 

 

 

    Trade Payable

7.2

11.0

8.1

8.0

5.3

    Accounts Payable

16.9

10.5

8.5

6.2

6.8

    Income Taxes Payable

13.6

12.2

12.4

8.9

5.9

    VAT Withheld

1.4

1.1

2.2

2.2

2.4

    Accrued Expenses

0.2

0.2

0.2

0.2

0.3

    Unearned Income

0.0

0.0

0.0

0.0

0.0

    Security Deposits Withheld

1.5

1.7

1.7

1.7

1.7

    Deposit Withheld

0.6

0.7

0.5

0.5

0.7

    Deferred Income Tax Credits

0.0

0.0

0.0

-

-

Total Current Liabilities

41.4

37.4

33.5

27.8

23.2

 

 

 

 

 

 

    Provision for Returned Goods

2.3

2.3

2.2

2.1

2.0

    Reserve-Severance and Retirement Benefit

0.9

3.1

3.2

2.1

1.7

Total Liabilities

44.5

42.8

38.9

32.0

26.9

 

 

 

 

 

 

    Common Stock

13.0

13.8

14.1

13.9

13.1

    Paid-in Capital in Excess of Par

0.9

1.0

1.0

1.0

1.0

    Other Capital Surplus

13.4

14.2

14.5

1.0

0.9

    Reserve for Assets Revaluation

11.6

12.3

12.6

12.5

12.3

    Voluntary Reserve

90.8

-

-

-

-

    Legal Reserve

6.9

7.3

7.5

7.4

6.5

    Reserve for Business Rationalization

-

-

-

-

8.1

    Voluntary Reserves

-

96.1

98.3

97.4

75.7

    Other Capital Adjustment

0.0

-

-

-

-

    Retained Earning Carried Forward

33.5

28.1

17.7

7.5

21.1

    Capital Changes under Equity Method (

-

0.0

-

-

-

    Treasury Stock

-2.3

0.0

0.0

-6.8

-6.6

Total Equity

167.9

172.8

165.6

133.9

132.0

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

212.4

215.5

204.6

165.9

158.9

 

 

 

 

 

 

    S/O-Ordinary Shares

26.6

27.0

27.0

26.2

24.9

Total Common Shares Outstanding

26.6

27.0

27.0

26.2

24.9

T/S-Ordinary Shares

0.4

-

-

0.9

0.9

Deferred Sale, Current

0.0

0.0

0.0

0.0

0.0

Employees

543

543

538

513

508

Number of Common Shareholders

7,090

-

-

-

6,648

Operating Lease Pymt. Due within 1 Year

0.0

0.0

0.0

0.0

0.0

Operating Lease Payments Due in Year 2

-

-

-

-

0.0

Total Operating Leases

0.0

0.0

0.0

0.0

0.0

 

Annual Cash Flows

As Reported

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)   

 

 

 

31-Mar-2010

31-Mar-2009

31-Mar-2008

31-Mar-2007

31-Mar-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Mar-2010

Updated Normal 
31-Mar-2009

Reclassified Normal 
31-Mar-2009

Updated Normal 
31-Mar-2007

Restated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1209.855603

1214.015574

933.271038

945.639003

1012.786749

Auditor

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Deloitte & Touche LLP

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

23.0

25.2

35.4

20.7

16.1

    Depreciation

2.2

3.0

3.9

3.5

3.4

    Expenses of Allowance for Doubtful Accou

0.6

3.3

1.9

3.0

1.8

    Amortization of Intangible Assets

0.3

0.7

0.8

0.2

0.1

    Prov. Doubtful Act

-

0.2

0.2

0.2

0.1

    Compensation Expenses Associated with St

0.5

-

-

-

-

    Retirement and Severance Benefits

4.1

-

-

-

-

    L-For Exch Translatn

-

-

-

-

0.0

    Loss Decr. Inventory

-

-

-

-

0.0

    Loss-ST Marketable Securities Disposal

-

-

0.0

-

-

    L-Inventory Scrapping

0.6

0.2

0.1

0.0

0.0

    Development Cost

-

0.0

0.0

0.0

1.2

    L-Disp LT Invest Secs

-

-

-

-

0.0

    Loss-Reduction of Intangible Assets

-

-

0.2

-

-

    Losses on Sale of Property, Plant and Eq

0.1

0.0

0.1

-

0.0

    Other Non-Op Exp

-

0.0

0.1

0.0

0.1

    Cost of Goods

-

-

-

-

0.0

    Losses on Valuation of Equity Method Sec

0.2

-

-

0.1

0.2

    Loss-Prior Period Error Correction

-

-

0.0

-

0.0

    Gains on Foreign Currency Translation

0.0

-

0.0

0.0

0.0

    G-Disp ST Investment Secs

-

-

-

-

0.0

    Gains on Sale of Property, Plant and Equ

0.0

0.0

-0.5

-0.4

0.0

    Other Non-Operating Income

-

0.0

0.0

-

0.0

    Gain-Prior Period Error Correction

-

-

0.0

-

-0.4

    Decrease or Increase in Trade Receivable

-15.5

-13.2

-10.1

-4.6

-5.8

    Decrease or Increase in Other Receivable

0.3

-0.7

0.1

-0.3

0.0

    Decrease or Increase in Accrued Sales

0.1

0.0

-0.3

0.0

0.1

    Dec Advanced Payment

-0.8

0.0

-0.2

2.4

-2.1

    Decrease or Increase in Prepaid Expenses

0.0

0.0

-0.3

0.0

0.0

    Decrease or Increase in Inventories

-1.2

-2.9

-15.5

0.7

3.7

    Deferred Income Tax Debit, Current

-0.1

-

0.1

0.1

-0.1

    Decrease or Increase in Deferred Income

0.3

-0.1

0.0

-0.2

0.3

    Increase or Decrease in Trade Payables

2.0

-1.8

2.4

-3.5

2.2

    Increase or Decrease in Withholdings

0.1

-0.1

-0.1

0.2

0.1

    Increase or Decrease in Other Payables

-0.2

-7.8

11.6

1.9

-0.9

    Increase or Decrease in Accrued Expenses

0.0

0.1

-0.1

0.1

0.0

    Increase or Decrease in Income Taxes Pay

-0.9

-7.2

3.4

2.5

-0.5

    Increase or Decrease in Deferred Income

0.4

0.0

0.0

-

0.0

    Valu Add Tax Withhld

-0.4

1.3

-1.0

0.4

0.3

    Security Deposits

0.1

0.3

0.0

0.3

-0.1

    Reserve-Sales Return

0.6

0.2

0.4

0.0

0.1

    Payment for Retirement and Severance Ben

-1.2

-0.9

-1.7

-2.3

-1.1

    Decrease Increase Deposits for Retiremen

-2.6

-2.2

-1.0

-0.5

-0.5

    Increase or Decrease in National Pension

0.0

0.0

0.0

0.0

0.0

    Unearned Income

-

0.0

0.0

0.0

-

Cash from Operating Activities

12.7

-2.3

29.9

24.6

18.3

 

 

 

 

 

 

    Proceeds from Sale of Short-term Financi

8.3

31.4

60.4

95.3

29.5

    Disposal-Investment Assets

0.1

-

-

-

0.0

    Decrease-LT Loans

-

-

0.0

-

-

    Decrease in Short-term Loans

0.0

0.1

-

9.0

0.9

    Disp-LT Invest Secs

-

-

-

-

0.0

    Decrease in Deposits Provided

0.2

0.4

0.0

0.0

0.2

    Disp-Structures

-

-

-

-

0.0

    Proceeds from Sale of Machinery

0.0

0.0

0.4

0.4

0.0

    Proceeds from Sale of Vehicles

0.1

0.0

0.1

0.0

0.0

    Decrease-Industrial Property Right

-

-

0.0

-

0.0

    Disp-Land

-

-

-

0.0

-

    Disp-Building

-

-

-

0.0

-

    Proceeds from Sale of Tools

0.0

0.0

-

0.0

-

    Proceeds from Sale of Office Equipment

0.0

-

-

-

-

    Disposal-ST Investment Assets

-

-

0.0

-

-

    Dec-LT Finl Asset

-

-

-

0.0

-

    Decrease-Investment Securities

-

-

0.0

-

-

    Purchase of Short-term Financial Instrum

-4.1

-17.6

-90.4

-95.3

-27.7

    Purchase of Short-term Investment Assets

0.0

0.0

-0.1

0.0

0.0

    Purchase of Long-term Investment Securit

0.0

-

-

-

-

    Increase-LT Loans

-

-

-0.2

-

-

    Increase in ST Loans

-

-0.1

-

-9.0

-0.4

    Acq-LT Invest Secs

-

-0.1

-

0.0

0.0

    Acq-Securities under Equity Method

-

-

-

-1.6

-0.5

    Increase-Other Investment Assets

-

-

-0.1

-0.6

-1.4

    Increase in Deposits Provided

0.0

-0.2

-0.9

-0.5

-0.4

    Acquisition of Land

-

-

-0.2

0.0

-0.3

    Purchase of Structures

-0.4

0.0

-0.1

-

-

    Purchase of Buildings

0.0

-

-0.6

-0.2

-1.4

    Purch. of Structure

-

-

-

-

0.0

    Purchase of Machinery

-0.1

-0.4

-1.9

-0.9

-1.1

    Purchase of Vehicles

-0.4

-0.1

-0.5

0.0

-0.1

    Purchase of Tools

-0.3

-0.1

-0.5

-0.7

-0.6

    Purchase of Office Equipment

-0.8

-0.3

-0.6

-1.4

-1.0

    Purchase of Construction in Progress

-1.4

-19.5

-17.8

-0.3

0.0

    Purchase of Industrial Property Rights

0.0

0.0

0.0

-0.1

-0.1

    Purchase of Development Costs

-2.2

-2.7

-0.5

-0.9

-1.3

    Incr-Other Intangibles

-

-

-

-

0.0

Cash from Investing Activities

-1.0

-9.3

-53.4

-6.6

-5.6

 

 

 

 

 

 

    Increase-Common Stock

-

-

0.0

-

-

    Increase-ST Borrowings

-

4.1

-

-

4.9

    Increase-LT Borrowings

-

24.7

-

-

-

    Disposal-Treasury Stock

-

-

25.0

-

0.0

    Increase-Rent Guarantee Deposit

-

0.0

-

-

-

    Cash Outflow-Consolidation Scope Change

-

-

1.9

-

-

    Payments in Dividends

-6.5

-8.5

-7.6

-5.0

-4.7

    Dec-Curr LT Liabs

-

-

-

-

0.0

    Decrease-ST Borrowings

-

-4.1

-

-

-9.9

    Acquisition-Treasury Stock

-

-14.0

-2.5

-

-1.9

    Decrease-Lease Guarantee Deposit

-

0.0

-

-

-

Cash from Financing Activities

-6.5

2.3

16.8

-5.0

-11.5

 

 

 

 

 

 

Net Change in Cash

5.2

-9.2

-6.7

12.9

1.1

 

 

 

 

 

 

Cash and Cash Equivalent at Beginning

15.8

25.6

40.0

26.5

23.7

Cash and Cash Equivalent at End

21.0

16.3

33.3

39.5

24.8

 

Interim Cash Flows

As Reported

 

 

Financials in: USD (mil)

Except for share items (millions) and per share items (actual units)   

 

 

 

31-Mar-2008

31-Dec-2007

30-Sep-2007

30-Jun-2007

31-Mar-2007

Period Length

12 Months

9 Months

6 Months

3 Months

12 Months

UpdateType/Date

Updated Normal 
31-Mar-2008

Updated Normal 
31-Dec-2007

Updated Normal 
30-Sep-2007

Updated Normal 
30-Jun-2007

Updated Normal 
31-Mar-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

933.271038

926.027899

928.519459

929.351075

945.639003

 

 

 

 

 

 

Net Income

35.2

28.1

17.1

7.2

20.7

    Depreciation

3.8

2.8

1.6

0.8

3.5

    Amortization of Intangible Assets

0.4

0.3

0.2

0.1

0.2

    Provision for Doubtful Accounts

0.2

0.2

0.0

0.1

0.2

    Provision for Retirement Allowances

1.9

1.9

1.7

0.6

3.0

    Commissions Accrued

-

-

-

0.0

-

    Development Cost

0.0

0.0

-

-

0.0

    Other Non-Operating Expenses

0.1

0.6

0.1

0.4

0.0

    Loss on Foreign Currency Translation

-

0.0

-

-

-

    Loss-Depletion of Inventories

-

0.0

0.0

0.0

-

    Loss-Scraping of Inventories

0.1

-

-

-

0.0

    Loss-Disposal of Tangible Assets

0.1

-

-

-

-

    Loss under Equity Method

0.0

0.1

0.1

-

0.1

    Gain-Disposal of Tangible Assets

-0.5

-0.5

-0.5

-0.4

-0.4

    Other Non-Operating Income

0.0

0.0

0.0

-

-

    Gain-Foreign Currency Translation

0.0

0.0

0.0

0.0

0.0

    Increase in Trade Receivables

-10.1

-7.1

-5.6

-1.5

-4.6

    Decrease in Account Receivable

0.1

-0.9

-0.2

-0.2

-0.3

    Increase in Prepaid Expense

-0.3

-0.1

-0.1

0.0

0.0

    Increase in Advanced Payments

-0.2

-0.5

0.0

0.0

2.4

    Increase in Accrued Income

-0.3

-0.4

-0.3

0.0

0.0

    Increase in Inventories

-15.4

-15.6

-5.7

-3.4

0.7

    Deferred Income Tax Debits, Current

0.1

0.1

0.1

0.0

0.1

    Deferred Income Tax Debits

0.0

-0.1

-0.4

0.0

-0.2

    Trade Payables

2.3

5.7

2.6

2.6

-3.5

    Accounts Payable

11.0

3.7

1.4

-0.8

1.9

    Unearned Income

0.0

0.0

0.0

0.0

0.0

    Deposits Withheld

-0.1

0.0

-0.2

-0.2

0.2

    Security Deposits Withheld

0.0

0.0

0.0

0.0

0.3

    Increase in Advances Received

-

0.0

-

-

-

    Accrued Expenses

-0.1

-0.1

-0.1

-0.1

0.1

    Accrued Income Taxes

3.4

6.3

1.1

2.9

2.5

    VAT Withheld

-1.0

-1.4

-0.3

-0.3

0.4

    Deferred Income Tax Credit, Current, A/L

0.0

0.0

0.0

-

-

    Inc-Provision for Returned Goods

0.4

0.3

0.1

0.0

0.0

    Payment of Retirement Bonus

-1.7

-0.7

-0.4

-0.3

-2.3

    Increase in Deposits for Retirement

-1.0

0.2

0.1

0.0

-0.5

    Increase in Reserve for National Pen

0.0

0.0

0.0

0.0

0.0

Cash from Operating Activities

28.3

23.1

12.7

7.5

24.6

 

 

 

 

 

 

    Decrease-LT Loans

0.0

-

-

-

-

    Decrease-Short Term Loans

-

0.0

0.0

0.0

9.0

    Decrease-Guarantee Deposit

0.0

0.0

0.0

0.0

0.0

    Decrease-ST Financial Assets

60.4

11.8

25.2

0.1

95.3

    Decrease-Investment Securities

0.0

-

-

-

-

    Disposal-ST Investment Assets

0.0

-

-

-

-

    Decrease-LT Financial Assets

-

0.0

0.0

-

0.0

    Decrease in Investment Securities

-

0.0

0.0

0.0

-

    Disposal of Land

-

0.0

-

-

0.0

    Disposal of Buildings

-

0.0

-

-

0.0

    Disposal-Machinery and Equipments

0.4

0.4

0.4

0.4

0.4

    Disposal-Transportation

0.1

0.1

0.1

-

0.0

    Disposal of Tools and Supplies

-

-

-

-

0.0

    Decrease-Industrial Property Right

0.0

0.0

-

-

-

    Increase-LT Loans

-0.2

-

-

-

-

    Increase-ST Loans

-

0.0

0.0

0.0

-9.0

    Increase-Guarantee Deposits

-0.9

0.0

0.0

-

-0.5

    Increase-ST Financial Assets

-90.4

-15.2

-55.3

0.0

-95.3

    Increase-ST Investment Assets

-0.1

-0.1

-0.1

-0.1

0.0

    Increase-Securities under Equity Method

-

0.0

0.0

-

-1.6

    Increase in Investment Securities

-

0.0

0.0

-

0.0

    Increase-Other Investment Assets

-0.1

-0.1

-0.1

-

-0.6

    Increase in Structure

-

-0.1

-0.1

-

-

    Increase-Land

-

-

-

-

0.0

    Increase-Structure

-0.1

-

-

-

-

    Increase in Buildings

-0.1

0.0

0.0

-

-0.2

    Acquisition of Tools

-0.5

-0.4

-0.2

-0.2

-0.7

    Acquisition-Machinery and Equipment

-1.8

-2.8

-0.1

0.0

-0.9

    Increase in Fixtures

-0.6

-0.2

-0.2

-0.1

-1.4

    Increase in Transportation

-0.5

-0.4

-0.4

-0.4

0.0

    Increase in Construction in Progress

-17.8

-8.4

-5.4

-0.2

-0.3

    Increase-Industrial Property Right

0.0

0.0

0.0

0.0

-0.1

    Increase-Development Cost

-

0.0

0.0

-

-0.9

Cash from Investing Activities

-52.0

-15.6

-36.1

-0.6

-6.6

 

 

 

 

 

 

    Disposal-Treasury Stock

25.0

20.1

25.2

-

-

    Acquisition-Treasury Stock

-2.5

0.0

0.0

0.0

-

    Dividends Paid

-7.6

-7.7

-7.7

-7.7

-5.0

Cash from Financing Activities

14.9

12.4

17.4

-7.7

-5.0

 

 

 

 

 

 

Net Change in Cash

-8.7

19.9

-6.0

-0.8

12.9

 

 

 

 

 

 

Net Cash Beginning Balance

40.0

40.3

40.2

40.1

26.5

Net Cash Ending Balance

31.2

60.2

34.1

39.4

39.5

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.80

UK Pound

1

Rs.72.86

Euro

1

Rs.63.11

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.