MIRA INFORM REPORT

 

 

Report Date :           

12.11.2011

 

IDENTIFICATION DETAILS

 

Name :

SAMSUNG FINE CHEMICAL CO., LTD.

 

 

Registered Office :

190, Yuhchun-Dong, Nam-Gu, Ulsan-Si, 680-090

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

27.08.1964

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

Provision of chemicals 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 :

Usually Correct

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

South Korea

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Samsung Fine Chemical Co., Ltd.

190, Yuhchun-Dong

Nam-Gu

Ulsan-Si, 680-090

Korea, Republic of

Tel:       82-52-2706114

Fax:      82-2-7721809

Web:    www.sfc.samsung.co.kr

           

 

Synthesis

 

Employees:                  997

Company Type:             Public Independent

Traded:                         Korea Stock Exchange:  004000

Incorporation Date:         27-Aug-1964

Auditor:                        PricewaterhouseCoopers LLP    

Financials in:                 usd (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       South Korean Won

Annual Sales:               977.3  1

Net Income:                  73.7

Total Assets:                 1,120.1  2

Market Value:               1,300.4

(28-Oct-2011)

 

 

Business Description     

 

SAMSUNG FINE CHEMICALS CO., LTD. is a Korean company involved in the provision of chemicals products. The Company's offerings are organized in three product groups: general chemicals, comprised of ammonia, urea, caustic soda and methanol; fine chemicals, including mecellose, dimethylformamide (DMF), propyl trimethylammonium chloride (PTAC), hypromellose, epichlorohydrin (ECH) and others, as well as electronic chemical materials, including barium tianate powder (BTP) used as materials of multi-layer ceramic capacitors (MLCCs) and tetramethylammonium chloride (TMAC) used as raw materials of semiconductor developers. The Company established a new wholly owned subsidiary, mainly engaged in the manufacture and sale of special biodegradable resins, on January 10, 2011. For the six months ended 30 June 2011, Samsung Fine Chemical's revenues increased 17% to W660.61B. The Company's net income decreased 6% to W49.01B. Revenues reflect increased gains from AnyCoat and PTAC finished goods in domestic and foreign market. Net income was offset by increased interest expense and decreased gain on currency forward transaction, as well as decreased gain on disposal of tangible assets.

 

Industry             

Industry            Chemical Manufacturing

ANZSIC 2006:    1812 - Basic Organic Chemical Manufacturing

NACE 2002:      2414 - Manufacture of other organic basic chemicals

NAICS 2002:     325199 - All Other Basic Organic Chemical Manufacturing

UK SIC 2003:    2414 - Manufacture of other organic basic chemicals

US SIC 1987:    2869 - Industrial Organic Chemicals, Not Elsewhere Classified

 

           

Key Executives

 

Name

Title

Yin Hui Sung

President,Chief Executive Officer, Director

Byeong Hun Choi

Internal Auditor

Hung Sik Jun

Co-Executive Director

Jung Kyu Kim

Co-Auditor

Seok Yeol Yoon

Co-Managing Director

 

 

Significant Developments

 

Topic

#*

Most Recent Headline

Date

Litigation

3

Samsung Fine Chemical Co., Ltd. Announces Lawsuit Filed by seoul guarantee insurance company and 14 Other Financial Institutes

3-Mar-2011

Restructuring / Reorganization

1

Samsung Fine Chemical Co., Ltd. Announces Closing of Business Division

18-Mar-2011

Officer Changes

2

Samsung Fine Chemical Co., Ltd. Appoints New CEO

12-Aug-2011

Strategic Combinations

2

Samsung Fine Chemical Co., Ltd. to Jointly Establish New Company

21-Mar-2011

Expansion / New Markets / New Units

1

Samsung Fine Chemical Co., Ltd. to Establish New Subsidiary

7-Jan-2011

 

 

 

* number of significant developments within the last 12 months                                                                                                

 

 

Financial Summary    

 

As of 30-Jun-2011

Key Ratios                               Company         Industry

Current Ratio (MRQ)                   2.91                  2.18

Quick Ratio (MRQ)                     2.06                  1.35

Debt to Equity (MRQ)                 0.02                  0.82

Sales 5 Year Growth                  7.39                  6.26

Net Profit Margin (TTM) %           6.99                  10.56

Return on Assets (TTM) %          7.06                  8.26

Return on Equity (TTM) %           8.66                  22.07

 

 

Stock Snapshot

 

 

 

Traded: Korea Stock Exchange: 004000

 

As of 28-Oct-2011

   Financials in: KRW

Recent Price

55,700.00

 

EPS

3,344.04

52 Week High

89,000.00

 

Price/Sales

1.27

52 Week Low

38,800.00

 

Dividend Rate

650.00

Avg. Volume (mil)

0.21

 

Price/Earnings

20.28

Market Value (mil)

1,437,060.00

 

Price/Book

1.35

 

 

 

Beta

1.11

 

Price % Change

Rel S&P 500%

4 Week

34.06%

22.96%

13 Week

-20.88%

-12.53%

52 Week

-16.99%

-17.92%

Year to Date

-32.81%

-28.58%

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1156.282

2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1134.9

 

Corporate Overview

 

Location

190, Yuhchun-Dong

Nam-Gu

Ulsan-Si, 680-090

Korea, Republic of

Tel:       82-52-2706114

Fax:      82-2-7721809

Web     www.sfc.samsung.co.kr

           

Quote Symbol - Exchange

004000 - Korea Stock Exchange

Sales KRW(mil):            1,130,032.3

Assets KRW(mil):          1,271,208.5

Employees:                   997

Fiscal Year End:            31-Dec-2010

Industry:                        Chemical Manufacturing

Incorporation Date:         27-Aug-1964

Company Type:             Public Independent

Quoted Status:              Quoted

President,

Chief Executive Officer,

Director:            Yin Hui Sung

 

Company Web Links

·         Corporate History/Profile

·         Financial Information

·         Home Page

·         Investor Relations

·         Products/Services

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Market Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

1831     -          Fertiliser Manufacturing

1811     -          Industrial Gas Manufacturing

1899     -          Other Basic Chemical Product Manufacturing Not Elsewhere Classified

1813     -          Basic Inorganic Chemical Manufacturing

1812     -          Basic Organic Chemical Manufacturing

 

NACE 2002 Codes:

2413     -          Manufacture of other inorganic basic chemicals

2414     -          Manufacture of other organic basic chemicals

2415     -          Manufacture of fertilisers and nitrogen compounds

2466     -          Manufacture of other chemical products not elsewhere classified

 

NAICS 2002 Codes:

325311  -          Nitrogenous Fertilizer Manufacturing

325188  -          All Other Basic Inorganic Chemical Manufacturing

325998  -          All Other Miscellaneous Chemical Product and Preparation Manufacturing

325199  -          All Other Basic Organic Chemical Manufacturing

325181  -          Alkalies and Chlorine Manufacturing

 

US SIC 1987:

2819     -          Industrial Inorganic Chemicals, Not Elsewhere Classified

2873     -          Nitrogenous Fertilizers

2899     -          Chemicals and Chemical Preparations, Not Elsewhere Classified

2869     -          Industrial Organic Chemicals, Not Elsewhere Classified

2812     -          Alkalies and Chlorine

 

UK SIC 2003:

2413     -          Manufacture of other inorganic basic chemicals

2466     -          Manufacture of other chemical products not elsewhere classified

2415     -          Manufacture of fertilisers and nitrogen compounds

2414     -          Manufacture of other organic basic chemicals

 

Business Description

SAMSUNG FINE CHEMICALS CO., LTD. is a Korean company involved in the provision of chemicals products. The Company's offerings are organized in three product groups: general chemicals, comprised of ammonia, urea, caustic soda and methanol; fine chemicals, including mecellose, dimethylformamide (DMF), propyl trimethylammonium chloride (PTAC), hypromellose, epichlorohydrin (ECH) and others, as well as electronic chemical materials, including barium tianate powder (BTP) used as materials of multi-layer ceramic capacitors (MLCCs) and tetramethylammonium chloride (TMAC) used as raw materials of semiconductor developers. The Company established a new wholly owned subsidiary, mainly engaged in the manufacture and sale of special biodegradable resins, on January 10, 2011. For the six months ended 30 June 2011, Samsung Fine Chemical's revenues increased 17% to W660.61B. The Company's net income decreased 6% to W49.01B. Revenues reflect increased gains from AnyCoat and PTAC finished goods in domestic and foreign market. Net income was offset by increased interest expense and decreased gain on currency forward transaction, as well as decreased gain on disposal of tangible assets.

 

More Business Descriptions

Production of urea, ammonia and other chemicals and fertilisers

All Other Chemical Product and Preparation Manufacturing

 

Financial Data

Financials in:

KRW(mil)

 

Revenue:

1,130,032.3

Net Income:

85,173.8

Assets:

1,271,208.5

Long Term Debt:

0.0

 

Total Liabilities:

223,127.9

 

Working Capital:

28.4

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

8.8%

-1.7%

24.0%

 Top

Market Data

Quote Symbol:

004000

Exchange:

Korea Stock Exchange

Currency:

KRW

Stock Price:

55,700.0

Stock Price Date:

10-28-2011

52 Week Price Change %:

-17.0

Market Value (mil):

1,437,059,968.0

 

SEDOL:

6496432

ISIN:

KR7004000006

 

Equity and Dept Distribution:

All financials reflect non-consolidated numbers. FY'09 Q2 has CLA at C/F.

 Top

 

Key Corporate Relationships

Auditor:

PricewaterhouseCoopers LLP

 

Auditor:

PricewaterhouseCoopers LLP

 

 

 

 

 

 

 

 

 

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Dong Geol Byun

 

Non-Executive Independent Director

Director/Board Member

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Byun Dong Geol has been Non-Executive Independent Director of Samsung Fine Chemical Co., Ltd since March 13, 2009. Byun is also a representative lawyer in a domestic law firm. Byun was previously the president of Seoul Central District Court and Ulsan District Court, Korea. Byun holds a Bachelor of Law from Seoul National University, Korea.



B Law, Seoul National University

Byoung Joo Kim

 

Director

Director/Board Member

 

 

Gyu Cheol Lee

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Lee Gyu Cheol has been Non-Executive Independent Director of Samsung Fine Chemical Co., Ltd since March 13, 2009. Lee is also a Professor in University of Ulsan, Korea. Lee was also a Professor of Pennsylvania State University, the United States. Lee holds a Doctorate's degree in Materials from Yonsei University, Korea.



PHD Materials, Yonsei University

Hui Yin Lee

 

Managing Director

Director/Board Member

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Lee Hui Yin has been Managing Director of Samsung Fine Chemical Co., Ltd since March 19, 2010. Lee also works for Management and Support Division at the Company. Lee previously was Assistant Managing Director of SAMSUNG TOTAL PETROCHEMICALS Co., Ltd, Internal Auditor of HANTOK CHEMICALS C0., LTD. Lee holds a Master's degree in Business Administration from University of Western Ontario, Canada.



M Business Administration, University of Western Ontario
B Business Administration, ChungNam National University

Byoung Il Park

 

Director

Director/Board Member

 

 

Heung Yeol Park

 

Managing Director

Director/Board Member

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Park Heung Yeol has been Managing Director of Samsung Fine Chemical Co., Ltd since 2009. Park was Assistant Managing Director at the Company. Park holds a Bachelor's degree in Business Administration from Cheongju University, Korea.



B Business Administration, Cheongju University

Yin Hui Sung

 

President,Chief Executive Officer, Director

Director/Board Member

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Sung Yin Hui has been President,Chief Executive Officer and Director of Samsung Fine Chemical Co., Ltd since August 12, 2011. Sung used to work for SAMSUNG ELECTRONICS CO,.LTD. Sung holds a Bachelor's degree in Public Administration from Kyunghee University, Korea.



B Public Administration, Kyunghee University

 

Executives

 

Name

Title

Function

 

Hung Sik Jun

 

Co-Executive Director

Chief Executive Officer

 

Kyung Eun Kim

 

Chief Financial Officer & Co-Executive Director

Chief Executive Officer

 

Young Soon Lee

 

Chief Executive Officer

Chief Executive Officer

 

Yin Hui Sung

 

President,Chief Executive Officer, Director

Chief Executive Officer

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Sung Yin Hui has been President,Chief Executive Officer and Director of Samsung Fine Chemical Co., Ltd since August 12, 2011. Sung used to work for SAMSUNG ELECTRONICS CO,.LTD. Sung holds a Bachelor's degree in Public Administration from Kyunghee University, Korea.



B Public Administration, Kyunghee University

Jin Ho Baek

 

Assistant Managing Director

Managing Director

 

 



B Business Administration, Kyungpook National University

Yong Deok Cho

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Cho Yong Deok has been Assistant Managing Director of SAMSUNG FINE CHEMICALS CO.,LTD. Previously, Cho served as Assistant Managing Director at SAMSUNG ELECTRONICS CO,.LTD. Cho holds a Doctorate's degree in Industrial Engineering from Columbia University, the United States.



PHD Industrial Engineering, Columbia University

Dong Bae Choi

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Choi Dong Bae has been Assistant Managing Director of Samsung Fine Chemical Co., Ltd. Choi also serves as Head of Mecellose Division at the Company. Choi holds a Bachelor's degree in International Trade from Pusan National University, Korea.



B International Trade, Pusan National University

Ho Cheol Choi

 

Assistant Managing Director

Managing Director

 

 



B Chemical Engineering, Dong-A University

Hyeon Min Hong

 

Managing Director

Managing Director

 

 

Hyeon Min Hong

 

Managing Director

Managing Director

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Hong Hyeon Min has been Managing Director of Samsung Fine Chemical Co., Ltd since 2008. Hong was previously Assistant Managing Director of the Company. Hong holds a Bachelor's degree in Chemistry from Seoul National University, Korea and also completed a course from ADL Business School.



B Chemistry, Seoul National University

Yun Yil Hwang

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Hwang Yun Yil has been Assistant Managing Director of SAMSUNG FINE CHEMICALS CO.,LTD. Previously, Hwang worked for Arthur D Littel and LG CHEM LTD. Hwang holds a Doctorate's degree in Chemistry from Carnegie Mellon University, the United States.



PHD Chemistry, Carnegie Mellon University

Heung Sik Jeon

 

Managing Director

Managing Director

GW 

 

Yil Hwan Kim

 

Assistant Managing Director

Managing Director

 

 



M Metallurgical and Materials Engineering, University of Ulsan
B Chemical Engineering, Yeungnam University

Hui Deuk Kim

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Kim Hui Deuk has been Assistant Managing Director of SAMSUNG FINE CHEMICALS CO.,LTD. Previously, Kim worked for SAMSUNG SDI CO.,LTD. Kim holds a Bachelor's degree in Electrical Engineering from Korea Aerospace University.



B Electrical Engineering, Korea Aerospace University

Gil Hwan Lee

 

Managing Director

Managing Director

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Lee Gil Hwan has been Managing Director of SAMSUNG FINE CHEMICALS CO.,LTD since 2010. Previously, Lee served as Assistant Managing Director of the Company. Lee holds a Bachelor's degree in French from Seoul National University, Korea.



B French, Seoul National University

Seung Gwan Lee

 

Assistant Managing Director

Managing Director

 

 



B Business Administration, Pusan National University

Mu Jin Lee

 

Assistant Managing Director

Managing Director

 

 



B Polymer Science, Pusan National University

Sang Gu Lee

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Lee Sang Gu has been Assistant Managing Director of Samsung Fine Chemical Co., Ltd since 2009. Lee was Head of Mecellose Division at the Company. Lee holds a Doctorate's degree in Chemistry from Korea Advanced Institute of Science and Technology.



DS Chemistry, Korea Advanced Institute of Science & Technology

Hui Yin Lee

 

Managing Director

Managing Director

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Lee Hui Yin has been Managing Director of Samsung Fine Chemical Co., Ltd since March 19, 2010. Lee also works for Management and Support Division at the Company. Lee previously was Assistant Managing Director of SAMSUNG TOTAL PETROCHEMICALS Co., Ltd, Internal Auditor of HANTOK CHEMICALS C0., LTD. Lee holds a Master's degree in Business Administration from University of Western Ontario, Canada.



M Business Administration, University of Western Ontario
B Business Administration, ChungNam National University

Heung Yeol Park

 

Managing Director

Managing Director

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Park Heung Yeol has been Managing Director of Samsung Fine Chemical Co., Ltd since 2009. Park was Assistant Managing Director at the Company. Park holds a Bachelor's degree in Business Administration from Cheongju University, Korea.



B Business Administration, Cheongju University

Heung Yeol Park

 

Managing Director

Managing Director

 

 

Tae Ho Seo

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Seo Tae Ho has been Assistant Managing Director of SAMSUNG FINE CHEMICALS CO.,LTD. Previously, Seo worked for SAMSUNG SECURITIES CO.,LTD. Seo holds a Master's degree in International Trade from Kyungpook National University, Korea.



M International Trade, Kyungpook National University

Gyeong Yeol Yeon

 

Assistant Managing Director

Managing Director

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Yeon Gyeong Yeol has been Assistant Managing Director of Samsung Fine Chemical Co., Ltd. Yeon previously worked for Samsung Electronics Co., Ltd. Yeon holds a Doctorate's degree in Materials Engineering from Wisconsin University, the United States.



PHD Materials Engineering, Wisconsin University

Seok Yeol Yoon

 

Co-Managing Director

Managing Director

 

 

Jung Kyu Kim

 

Co-Auditor

Finance Executive

 

 

Jung Ho Seo

 

Co-Auditor

Finance Executive

 

 

Byeong Hun Choi

 

Internal Auditor

Accounting Executive

 

 

Reuters Biography (Samsung Fine Chemical Co., Ltd.)

Choi Byeong Hun has been Internal Auditor of Samsung Fine Chemical Co., Ltd since March 19, 2010. Choi previously was Chairman of a Korea-based association. Choi holds a Bachelor's degree from Seoul National University, Korea, and a Doctorate's degree from Kyonggi University, Korea.



PHD , Kyonggi University
B , Seoul National University

 

 

Significant Developments

 

Samsung Fine Chemical Co., Ltd. Announces Changes in Shareholding Structure Oct 07, 2011

 

Samsung Fine Chemical Co., Ltd. announced that National Pension Service and its related party have sold 1,476,439 shares of the Company, representing an 5.72% stake. Following the transaction, National Pension Service and its related party's combined stake in the Company has decreased to 4.01% from 9.73%.

 

Samsung Fine Chemical Co., Ltd. Appoints New CEO Aug 12, 2011

 

Samsung Fine Chemical Co., Ltd. announced that it has appointed Sung Yin Hui as its new Chief Executive Officer, replacing Kim Jong Jung, effective August 12, 2011.

 

Samsung Fine Chemical Co., Ltd. to Jointly Establish New Company Mar 21, 2011

 

Samsung Fine Chemical Co., Ltd. announced that it will establish a Korea-based joint venture, to propel secondary battery active material business. The new entity will be mainly engaged in the manufacture and sale of secondary battery active material. The Company will invest KRW 1 billion to hold a 50% stake in the new venture.

 

Samsung Fine Chemical Co., Ltd. Announces Closing of Business Division Mar 18, 2011

 

Samsung Fine Chemical Co., Ltd. announced that it has suspended the operation of its Production Facility Manufacturing Division due to a deteriorating profit.

 

Samsung Fine Chemical Co., Ltd. Appoints New CEO Mar 18, 2011

 

Samsung Fine Chemical Co., Ltd. announced that it has appointed Kim Jong Jung as its new Chief Executive Officer, replacing Bae Ho Won, effective March 18, 2011.

 

Samsung Fine Chemical Co., Ltd. Announces Lawsuit Filed by seoul guarantee insurance company and 14 Other Financial Institutes Mar 03, 2011

 

Samsung Fine Chemical Co., Ltd. announced that seoul guarantee insurance company and 14 other financial institutes have filed a lawsuit against the Company, to cancel the first court judgement and file the same case to Seoul High Court.

Samsung Fine Chemical Co., Ltd. and MEMC Electronic Materials, Inc. Sign Polysilicon Joint Venture Agreement

Feb 15, 2011

 

Samsung Fine Chemical Co., Ltd. and MEMC Electronic Materials, Inc. announced a joint venture agreement between SFC and MEMC's affiliate, MEMC Singapore, to produce high purity polysilicon in Ulsan, Korea. Through a 50/50 capital investment, the joint venture will build and operate a new facility on an existing SFC property in Ulsan. The facility, which is expected to begin production in 2013, will have an initial capacity of 10,000 metric tons (MT) of polysilicon annually, and have the potential to expand to satisfy rapidly growing demand over time.

 

Samsung Fine Chemical Co., Ltd. Announces Seoul Guarantee Insurance and 13 Other Companies Appeal to Supreme Court of Korea Feb 07, 2011

 

Samsung Fine Chemical Co., Ltd. announced that Seoul Guarantee Insurance and 13 other companies have appealed to Supreme Court of Korea against the first judgment for the case of demanding for KRW 2,450 billion for damages caused by 28 affiliates, including the Company, of Samsung Group. The first judgment was announced on February 14, 2008. Seoul Guarantee Insurance and 13 other companies requested to overturn the first judgement and let Seoul High Court make the judgement again.

 

Samsung Fine Chemical Co., Ltd. Declares Annual Cash Dividend for FY 2010 Jan 26, 2011

 

Samsung Fine Chemical Co., Ltd. announced that it has declared an annual cash dividend of KRW 650 per share of common stock to shareholders of record on December 31, 2010, for the fiscal year 2010. The dividend rate of market price is 0.8% and the total amount of the cash dividend is KRW 16,492,645,000.

 

Samsung Fine Chemical Co., Ltd. Announces Court Ruling Jan 19, 2011

 

Samsung Fine Chemical Co., Ltd. announced that it has received a court ruling from Seoul High Court, filed by seoul guarantee insurance company and 13 related parties against the Company, regarding a contract amount requestment case. The court ordered the Company to pay KRW 600 billion with an interest rate of 5% per annum charged from May 8, 2010 to January 11, 2011 and an interest rate of 20% per annum from January 12, 2011 until all the liabilities has been liquidated, to seoul guarantee insurance company and 13 related parties.

 

Samsung Fine Chemical Co., Ltd. Announces Changes in Shareholding Structure Jan 10, 2011

 

Samsung Fine Chemical Co., Ltd. announced that National Pension Service has acquired 2,249,466 shares of the Company, representing an 8.72% stake.

 

Samsung Fine Chemical Co., Ltd. to Establish New Subsidiary Jan 07, 2011

 

Samsung Fine Chemical Co., Ltd. announced that it will establish a new wholly owned subsidiary in to make inroads into biodegradable resin business. The new entity, to be capitalized at KRW 14.5 billion, will be mainly engaged in the manufacture and sale of special biodegradable resin.

 

Samsung Fine Chemical Co., Ltd. Announces Changes in Shareholding Structure Nov 16, 2010

 

Samsung Fine Chemical Co., Ltd. announced that SAMSUNG SDI CO.,LTD and nine related parties have sold 804,760 shares of the Company, equivalent to a 3.12% stake. After the transaction, SAMSUNG SDI CO.,LTD and nine related parties' combined stake in the Company has decreased to 32.00% from 35.12%.


 

Annual Income Statement

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Net Sales

977.3

813.5

1,027.6

892.6

781.0

Revenue

977.3

813.5

1,027.6

892.6

781.0

Total Revenue

977.3

813.5

1,027.6

892.6

781.0

 

 

 

 

 

 

    Cost of Revenue

856.1

689.7

859.0

794.4

711.6

Cost of Revenue, Total

856.1

689.7

859.0

794.4

711.6

Gross Profit

121.2

123.8

168.5

98.2

69.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

41.0

35.2

43.2

46.6

40.8

    Labor & Related Expense

18.5

12.2

13.0

12.5

11.2

    Advertising Expense

1.4

1.4

1.5

1.6

1.6

Total Selling/General/Administrative Expenses

60.9

48.8

57.6

60.7

53.6

Research & Development

7.1

3.2

4.6

5.1

2.0

    Depreciation

0.6

0.6

0.7

0.8

0.8

    Amortization of Intangibles

0.0

0.0

0.0

0.1

0.1

Depreciation/Amortization

0.7

0.6

0.7

0.9

0.9

    Other Operating Expense

0.1

0.1

0.1

0.1

0.1

Other Operating Expenses, Total

0.1

0.1

0.1

0.1

0.1

Total Operating Expense

924.8

742.5

922.0

861.2

768.2

 

 

 

 

 

 

Operating Income

52.5

71.1

105.6

31.4

12.8

 

 

 

 

 

 

        Interest Expense - Non-Operating

-

0.0

-0.1

-0.1

-0.1

    Interest Expense, Net Non-Operating

-

0.0

-0.1

-0.1

-0.1

        Interest Income - Non-Operating

6.7

4.4

7.5

8.3

5.1

        Investment Income - Non-Operating

22.2

10.7

-9.5

13.9

24.7

    Interest/Investment Income - Non-Operating

29.0

15.2

-2.0

22.3

29.8

Interest Income (Expense) - Net Non-Operating Total

29.0

15.2

-2.1

22.1

29.6

Gain (Loss) on Sale of Assets

0.2

-4.4

-1.3

-2.4

-1.3

    Other Non-Operating Income (Expense)

8.3

-0.5

-2.1

2.9

0.8

Other, Net

8.3

-0.5

-2.1

2.9

0.8

Income Before Tax

90.0

81.3

100.1

54.0

41.9

 

 

 

 

 

 

Total Income Tax

16.3

13.4

22.6

10.9

8.3

Income After Tax

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Net Income Before Extraord Items

73.7

67.9

77.5

43.1

33.7

Net Income

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

25.3

25.3

25.3

25.4

25.6

Basic EPS Excl Extraord Items

2.91

2.68

3.07

1.70

1.31

Basic/Primary EPS Incl Extraord Items

2.91

2.68

3.07

1.70

1.31

Dilution Adjustment

0.0

0.0

0.0

-

0.0

Diluted Net Income

73.7

67.9

77.5

43.1

33.7

Diluted Weighted Average Shares

25.4

25.4

25.4

25.5

25.7

Diluted EPS Excl Extraord Items

2.90

2.67

3.05

1.69

1.31

Diluted EPS Incl Extraord Items

2.90

2.67

3.05

1.69

1.31

Dividends per Share - Common Stock Primary Issue

0.56

0.51

0.59

0.65

0.63

Gross Dividends - Common Stock

14.3

12.9

14.9

16.3

16.1

Interest Expense, Supplemental

-

0.0

0.1

0.1

0.1

Depreciation, Supplemental

42.2

35.7

43.7

61.9

65.6

Total Special Items

-0.2

4.4

1.3

2.4

1.3

Normalized Income Before Tax

89.8

85.8

101.4

56.4

43.2

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

0.7

0.3

0.5

0.3

Inc Tax Ex Impact of Sp Items

16.3

14.2

22.9

11.3

8.5

Normalized Income After Tax

73.5

71.6

78.5

45.0

34.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

73.5

71.6

78.5

45.0

34.7

 

 

 

 

 

 

Basic Normalized EPS

2.90

2.83

3.11

1.78

1.36

Diluted Normalized EPS

2.89

2.82

3.09

1.76

1.35

Amort of Intangibles, Supplemental

3.1

2.8

2.9

2.4

2.6

Rental Expenses

2.0

1.6

1.3

1.2

1.2

Advertising Expense, Supplemental

1.4

1.4

1.5

1.6

1.6

Research & Development Exp, Supplemental

7.1

3.2

4.6

7.0

3.3

Normalized EBIT

52.5

71.1

105.6

31.4

12.8

Normalized EBITDA

97.8

109.6

152.2

95.7

81.0

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

75.3

73.4

46.6

31.1

7.4

    Short Term Investments

114.6

94.5

31.8

138.9

146.9

Cash and Short Term Investments

189.9

167.9

78.3

170.0

154.4

        Accounts Receivable - Trade, Gross

146.6

134.8

147.1

136.3

119.3

        Provision for Doubtful Accounts

-1.2

-1.1

-1.4

-1.3

-1.3

    Trade Accounts Receivable - Net

147.0

134.8

146.7

137.4

119.6

    Other Receivables

7.2

2.9

1.2

3.5

4.7

Total Receivables, Net

154.2

137.7

147.9

140.9

124.3

    Inventories - Finished Goods

72.4

54.7

67.9

43.0

57.7

    Inventories - Work In Progress

35.5

29.8

28.5

21.5

18.0

    Inventories - Raw Materials

30.4

19.1

23.0

28.5

20.5

    Inventories - Other

18.5

19.3

11.1

14.0

12.5

Total Inventory

156.9

123.0

130.5

107.0

108.7

Prepaid Expenses

4.0

4.3

3.3

4.8

5.1

    Deferred Income Tax - Current Asset

1.9

3.1

0.5

0.6

0.2

    Other Current Assets

-

0.1

0.3

0.3

0.0

Other Current Assets, Total

1.9

3.2

0.8

0.9

0.2

Total Current Assets

506.8

436.0

360.8

423.6

392.7

 

 

 

 

 

 

        Buildings

191.5

166.4

147.7

191.8

188.8

        Land/Improvements

19.7

19.2

14.5

19.5

19.6

        Machinery/Equipment

712.7

635.0

552.1

760.0

735.3

        Construction in Progress

25.5

51.9

47.1

13.0

15.8

    Property/Plant/Equipment - Gross

949.3

872.4

761.4

984.2

959.5

    Accumulated Depreciation

-633.4

-582.2

-505.8

-671.7

-626.2

Property/Plant/Equipment - Net

315.9

290.2

255.5

312.6

333.4

Intangibles, Net

23.8

22.2

20.3

22.7

22.5

    LT Investment - Affiliate Companies

43.4

39.1

28.6

37.4

31.6

    LT Investments - Other

220.5

84.4

78.0

101.4

99.2

Long Term Investments

263.9

123.5

106.6

138.8

130.8

Note Receivable - Long Term

-

-

-

-

0.1

    Other Long Term Assets

9.6

8.3

6.3

7.7

7.9

Other Long Term Assets, Total

9.6

8.3

6.3

7.7

7.9

Total Assets

1,120.1

880.3

749.5

905.4

887.4

 

 

 

 

 

 

Accounts Payable

86.7

77.3

33.9

72.7

67.3

Accrued Expenses

12.3

15.5

17.3

16.6

7.9

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

1.8

Current Portion - Long Term Debt/Capital Leases

-

-

0.0

0.1

0.1

    Dividends Payable

0.1

0.1

0.1

0.1

0.1

    Customer Advances

0.6

0.5

0.3

0.2

0.3

    Security Deposits

0.0

0.1

0.1

0.1

0.5

    Income Taxes Payable

10.5

8.0

20.5

6.9

4.9

    Other Payables

30.2

18.8

36.3

27.1

25.8

    Other Current Liabilities

2.1

5.6

2.3

0.9

0.9

Other Current liabilities, Total

43.6

33.1

59.5

35.3

32.5

Total Current Liabilities

142.6

125.9

110.8

124.7

109.6

 

 

 

 

 

 

    Long Term Debt

-

-

0.4

0.6

0.7

Total Long Term Debt

0.0

0.0

0.4

0.6

0.7

Total Debt

0.0

0.0

0.5

0.7

2.7

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

36.2

6.4

2.1

7.7

8.0

Deferred Income Tax

36.2

6.4

2.1

7.7

8.0

    Pension Benefits - Underfunded

15.2

12.0

12.6

10.0

12.0

    Other Long Term Liabilities

2.6

1.2

1.1

0.3

2.0

Other Liabilities, Total

17.8

13.3

13.7

10.3

14.0

Total Liabilities

196.6

145.5

127.1

143.3

132.3

 

 

 

 

 

 

    Common Stock

113.7

110.8

102.4

137.8

138.7

Common Stock

113.7

110.8

102.4

137.8

138.7

Additional Paid-In Capital

292.9

285.9

264.4

356.0

359.1

Retained Earnings (Accumulated Deficit)

419.4

349.7

267.6

285.1

260.5

Treasury Stock - Common

-10.7

-11.6

-12.0

-16.7

-3.3

Unrealized Gain (Loss)

108.2

-

-

-0.2

-

Total Equity

923.5

734.8

622.4

762.0

755.0

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,120.1

880.3

749.5

905.4

887.4

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

25.4

25.3

25.3

25.2

25.6

Total Common Shares Outstanding

25.4

25.3

25.3

25.2

25.6

Treasury Shares - Common Stock Primary Issue

0.4

0.5

0.5

0.6

0.2

Employees

959

927

886

793

739

Number of Common Shareholders

30,714

28,610

26,179

31,739

-

Deferred Revenue - Current

0.6

0.5

0.3

0.2

0.3

Total Long Term Debt, Supplemental

-

-

0.5

0.7

0.8

Long Term Debt Maturing within 1 Year

-

-

0.0

0.1

0.1

Long Term Debt Maturing in Year 2

-

-

0.0

0.0

0.1

Long Term Debt Maturing in Year 3

-

-

0.0

0.0

0.0

Long Term Debt Maturing in Year 4

-

-

0.0

0.0

0.0

Long Term Debt Maturing in Year 5

-

-

0.1

0.0

0.0

Long Term Debt Maturing in 2-3 Years

-

-

0.1

0.1

0.1

Long Term Debt Maturing in 4-5 Years

-

-

0.1

0.1

0.1

Long Term Debt Matur. in Year 6 & Beyond

-

-

0.3

0.5

0.5

Total Operating Leases, Supplemental

-

-

-

0.2

-

Operating Lease Payments Due in Year 1

-

-

-

0.1

-

Operating Lease Payments Due in Year 2

-

-

-

0.0

-

Operating Lease Payments Due in Year 3

-

-

-

0.0

-

Operating Lease Pymts. Due in 2-3 Years

-

-

-

0.1

-

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

-

-

-

0.0

-

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Reclassified Normal 
31-Dec-2008

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

73.7

67.9

77.5

43.1

33.7

    Depreciation

42.2

35.7

43.7

61.9

65.6

Depreciation/Depletion

42.2

35.7

43.7

61.9

65.6

    Amortization of Intangibles

3.1

2.8

2.9

2.4

2.6

Amortization

3.1

2.8

2.9

2.4

2.6

Deferred Taxes

0.5

1.4

-4.1

-0.6

-0.9

    Unusual Items

-3.3

8.3

4.2

8.0

3.7

    Equity in Net Earnings (Loss)

-10.9

-8.9

-5.8

-11.3

-8.4

    Other Non-Cash Items

7.5

5.5

8.3

8.3

6.4

Non-Cash Items

-6.7

4.9

6.8

5.0

1.7

    Accounts Receivable

-10.8

20.5

-51.8

-18.1

18.7

    Inventories

-30.5

16.4

-59.6

1.0

8.6

    Prepaid Expenses

0.5

-0.7

0.3

0.2

-0.6

    Other Assets

-

-

-

-

0.0

    Accounts Payable

18.3

18.4

-3.2

6.6

-26.7

    Accrued Expenses

-2.3

-2.9

6.7

7.2

-2.4

    Taxes Payable

2.2

-12.9

17.5

2.1

-2.8

    Other Liabilities

-8.5

-3.9

-0.3

-10.2

-4.5

    Other Assets & Liabilities, Net

0.1

0.3

0.3

-

-

    Other Operating Cash Flow

8.2

2.7

5.1

5.0

-

Changes in Working Capital

-22.6

37.9

-85.0

-6.2

-9.7

Cash from Operating Activities

90.2

150.7

41.9

105.6

93.0

 

 

 

 

 

 

    Purchase of Fixed Assets

-61.7

-53.1

-74.1

-49.3

-36.7

    Purchase/Acquisition of Intangibles

-5.3

-7.7

-8.5

-7.6

-9.0

Capital Expenditures

-67.0

-60.9

-82.6

-56.9

-45.7

    Sale of Fixed Assets

2.9

0.9

0.5

0.4

1.6

    Sale/Maturity of Investment

7.4

0.0

82.0

26.0

9.6

    Purchase of Investments

-19.3

-57.0

-0.7

-18.3

-37.6

    Sale of Intangible Assets

1.3

-

-

-

-

    Other Investing Cash Flow

-1.9

-0.7

-0.6

-0.2

0.1

Other Investing Cash Flow Items, Total

-9.6

-56.7

81.2

7.9

-26.3

Cash from Investing Activities

-76.6

-117.6

-1.4

-49.0

-71.9

 

 

 

 

 

 

    Other Financing Cash Flow

-

0.0

-0.1

-0.1

-0.1

Financing Cash Flow Items

-

0.0

-0.1

-0.1

-0.1

Total Cash Dividends Paid

-14.2

-12.9

-13.8

-16.6

-17.4

        Sale/Issuance of Common

0.7

1.2

0.2

-

-

        Repurchase/Retirement of Common

-

-

-

-17.1

-

    Common Stock, Net

0.7

1.2

0.2

-17.1

-

    Options Exercised

-

-

-

2.8

0.9

Issuance (Retirement) of Stock, Net

0.7

1.2

0.2

-14.3

0.9

        Short Term Debt Issued

-

-

-

-

40.5

        Short Term Debt Reduction

-

-

-

-1.8

-41.0

    Short Term Debt, Net

-

-

-

-1.8

-0.6

        Long Term Debt Reduction

-

-0.4

-

-

-

    Long Term Debt, Net

-

-0.4

-

-

-

Issuance (Retirement) of Debt, Net

-

-0.4

-

-1.8

-0.6

Cash from Financing Activities

-13.6

-12.2

-13.6

-32.8

-17.2

 

 

 

 

 

 

Net Change in Cash

0.0

21.0

26.9

23.9

3.9

 

 

 

 

 

 

Net Cash - Beginning Balance

73.9

46.0

26.4

7.4

3.3

Net Cash - Ending Balance

73.9

66.9

53.3

31.3

7.2

 

Annual Income Statement

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Finished Products

644.2

555.4

613.1

574.6

491.7

    Merchandise Revenues

333.1

258.1

414.5

318.0

289.3

Total Revenue

977.3

813.5

1,027.6

892.6

781.0

 

 

 

 

 

 

    Cost of Finish Goods

541.5

462.2

485.8

509.1

452.4

    Cost-Merchandise

314.5

227.5

373.2

285.3

259.2

    Salaries

14.8

9.6

10.4

9.6

8.3

    Retirement Allowance

1.5

1.0

1.0

1.4

1.4

    Employee Benefits

2.2

1.6

1.6

1.5

1.5

    Rent

2.0

1.6

1.3

1.2

1.2

    Depreciation Expense

0.6

0.6

0.7

0.8

0.8

    Amort of Intangibles

0.0

0.0

0.0

0.1

0.1

    Taxes & Dues

0.4

0.3

0.4

0.4

0.4

    Travel Expenses

1.0

0.8

1.0

0.8

1.1

    Communication Exp.

0.7

0.5

0.6

0.6

0.6

    Repair Expenses

0.5

0.0

0.1

0.0

0.1

    Insurance Expenses

0.3

0.3

0.3

0.3

0.2

    Marketing Expense

0.9

0.8

0.9

1.0

1.1

    Conference Expenses

0.1

0.1

0.1

0.2

0.2

    Amort. of Bad Debts

0.0

-

0.6

-

0.1

    Advertising Expenses

0.6

0.6

0.6

0.6

0.5

    Shipping/Storage

26.3

24.1

29.2

31.2

26.7

    Commissions Paid

7.7

6.3

7.7

9.9

8.9

    Consumable Expense

0.0

0.1

0.0

0.0

0.0

    Vehicles Expense

0.2

0.1

0.2

0.2

0.2

    Printing Expense

0.1

0.1

0.1

0.1

0.1

    Activity Expenses

0.3

0.2

0.3

0.5

0.5

    Research Expense

7.1

3.2

4.6

5.1

2.0

    Education & Training

1.2

0.8

1.1

1.1

0.6

    Stock Compensation

-

-

-

-

0.0

    Miscellaneous Operating Expense

0.1

0.1

0.1

0.1

0.1

Total Operating Expense

924.8

742.5

922.0

861.2

768.2

 

 

 

 

 

 

    Interest Income

6.7

4.4

7.5

8.3

5.1

    Dividend Income

9.0

5.2

4.5

7.8

16.0

    Rental Income

2.5

1.6

1.0

1.0

0.8

    G-For Curr Transatcn

11.4

12.5

18.2

4.0

6.2

    G-For Exch Translatm

0.5

0.4

1.9

0.7

0.4

    Gain-Valuation of Currency Forwards

-

0.1

0.3

0.3

-

    G-Mkt Secs Valuation

-

-

-

-

0.1

    G-Inv Asset Disposal

3.3

-

-

-

-

    G-Tang Asst Disposal

1.1

0.0

0.4

0.3

0.3

    Gain-Currency Forwards Transactions

3.1

1.5

17.5

0.4

0.2

    Other Non-Op Income

7.9

3.0

1.4

4.8

3.2

    Reversal of Allowance for Doubtful Accou

-

0.3

-

0.0

-

    Interest Expense, Non-Operating

-

0.0

-0.1

-0.1

-0.1

    L-For Curr Transactn

-12.3

-8.2

-49.9

-3.3

-3.3

    L-For Exch Translatn

-0.3

-0.7

-1.8

-1.0

-0.3

    Loss-Other Investment Assets Reduction

-

-

-1.0

-1.5

-

    Donations Paid

-0.9

-0.8

-1.0

-0.6

-1.2

    Loss-Disposal of Investment Assets

-0.1

-

0.0

-

-

    L-Tang Asst Disposal

-0.5

-0.6

-1.0

-1.6

-0.4

    Impairment Losses on Property, Plant and

-

-3.3

-

-

-1.2

    Loss-Disposal of Accounts Receivable

-0.4

-0.5

-0.6

-1.1

-

    Loss-Reduction of Development Expense

-

-4.0

-1.7

-4.5

-2.4

    L-Currency Futr Trad

-3.1

-5.0

-2.7

-0.3

-0.7

    Loss-Valuation of Currency Forwards

-0.1

-0.1

-0.6

-

-

    Other Non-Op Expense

-1.1

-4.5

-3.5

-2.3

-2.1

    Loss under Equity Method

-0.9

-

-

-

-

    Gain under Equity Method

11.8

8.9

5.8

11.3

8.4

Net Income Before Taxes

90.0

81.3

100.1

54.0

41.9

 

 

 

 

 

 

Provision for Income Taxes

16.3

13.4

22.6

10.9

8.3

Net Income After Taxes

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Net Income Before Extra. Items

73.7

67.9

77.5

43.1

33.7

Net Income

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Basic Weighted Average Shares

25.3

25.3

25.3

25.4

25.6

Basic EPS Excluding ExtraOrdinary Items

2.91

2.68

3.07

1.70

1.31

Basic EPS Including ExtraOrdinary Item

2.91

2.68

3.07

1.70

1.31

Dilution Adjustment

0.0

0.0

0.0

-

0.0

Diluted Net Income

73.7

67.9

77.5

43.1

33.7

Diluted Weighted Average Shares

25.4

25.4

25.4

25.5

25.7

Diluted EPS Excluding ExtraOrd Items

2.90

2.67

3.05

1.69

1.31

Diluted EPS Including ExtraOrd Items

2.90

2.67

3.05

1.69

1.31

DPS-Common Stock

0.56

0.51

0.59

0.65

0.63

Gross Dividends - Common Stock

14.3

12.9

14.9

16.3

16.1

Normalized Income Before Taxes

89.8

85.8

101.4

56.4

43.2

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

16.3

14.2

22.9

11.3

8.5

Normalized Income After Taxes

73.5

71.6

78.5

45.0

34.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

73.5

71.6

78.5

45.0

34.7

 

 

 

 

 

 

Basic Normalized EPS

2.90

2.83

3.11

1.78

1.36

Diluted Normalized EPS

2.89

2.82

3.09

1.76

1.35

Interest Expense, Supplemental

-

0.0

0.1

0.1

0.1

Rental Expense, Supplemental

2.0

1.6

1.3

1.2

1.2

Advertising Expense, Supplemental

1.4

1.4

1.5

1.6

1.6

R&D Expense, Supplemental

7.1

3.2

4.6

7.0

3.3

Depreciation, Supplemental

42.2

35.7

43.7

61.9

65.6

Amort of Intangibles, Supplemental

3.1

2.8

2.9

2.4

2.6

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash/Equivalents

75.3

73.4

46.6

31.1

7.4

    ST Investment Assets

114.6

94.5

31.8

138.9

-

    ST Finl Assets

-

-

-

-

121.5

    Marketable Secs.

-

-

-

-

25.3

    Secs held-Mature

-

-

-

-

0.1

    Trade Rcvb Gross

146.6

134.8

147.1

136.3

119.3

    Doubtful Account

-1.2

-1.1

-1.4

-1.3

-1.3

    Other Rcvbl

4.7

2.9

1.2

3.5

4.7

    Accrued Income

1.6

1.0

1.1

2.3

1.6

    Advance Payments

7.5

8.5

1.4

0.6

0.4

    Prepaid Expenses

4.0

4.3

3.3

4.8

5.1

    Currency Futures, Current Assets

-

0.1

0.3

0.3

-

    Security Deposit

-

-

-

-

0.0

    Deferred Income Taxes Debit

1.9

3.1

0.5

0.6

0.2

    ST Loans, Net

2.5

-

-

-

-

    Merchandise

1.5

2.3

3.7

7.3

12.2

    Finished Goods

39.9

36.1

51.2

25.3

32.8

    Allowance for Loss on Valuation of Finis

-3.4

-1.2

-

-

-

    Semifinished Goods

41.5

33.6

28.5

21.5

18.0

    Allowance for Loss on Valuation of Semif

-6.0

-3.8

-

-

-

    Raw Materials

30.4

19.1

23.0

28.5

20.5

    Stored Goods

11.0

10.9

9.8

13.4

12.1

    Goods in Transit

34.4

17.5

13.0

10.4

12.7

Total Current Assets

506.8

436.0

360.8

423.6

392.7

 

 

 

 

 

 

    LT Finl Assets

0.0

0.0

0.0

0.0

0.0

    Secs Avail-Sale

-

-

-

-

99.0

    Secs Held-Mature

-

-

-

-

0.1

    LT Employee Loan

-

-

-

-

0.1

    LT Guarantee Dep

2.8

2.6

1.6

1.5

1.2

    Other LT Assets

6.8

5.8

4.7

6.2

6.7

    LT Invest Secs.

220.5

79.7

73.5

98.5

-

    Other Investment Assets

-

4.7

4.4

2.9

-

    Equity Method Investment Securities

43.4

39.1

28.6

37.4

31.6

    Land

19.7

19.2

14.5

19.5

19.6

    Buildings

111.5

91.2

79.2

101.0

98.2

    Buildings Depre.

-27.6

-24.3

-20.4

-25.1

-22.8

    Buildings Reduction

-

-

-

-0.1

-0.1

    Structures

79.9

75.2

68.5

91.0

90.8

    Structure Depre.

-45.1

-40.6

-34.5

-42.6

-39.1

    Structure Reduction

-

-

-

-0.1

-0.1

    Machinery/Equip.

671.6

600.8

521.6

720.4

695.8

    Mach/Equip Depre

-530.1

-488.7

-427.9

-574.7

-536.1

    Accumulated Impairment Losses for Machin

-

-3.3

-

-1.0

-1.0

    Transport Equip.

3.5

3.2

2.6

3.4

3.2

    Transport Deprec

-2.4

-2.3

-1.8

-2.4

-2.2

    Accumulated Impairment Losses for Vehicl

-

-0.1

-

-

-

    Tools/Equipments

18.9

17.2

14.4

19.8

19.0

    Tool/Equip Depr.

-13.5

-13.3

-10.8

-14.4

-13.7

    Accumulated Impairment Losses for Tools

-

-0.3

-

0.0

0.0

    Fixtures

18.7

17.5

13.5

17.4

18.3

    Deprec. Fixtures

-14.5

-13.0

-10.4

-12.5

-12.2

    Accumulated Impairment Losses for Office

-

-0.1

-

-

-

    Construc in Prog

25.5

51.9

47.1

13.0

15.8

    Indust.-Patent

0.3

0.3

0.2

0.2

0.6

    Water Use Rights

-

-

-

0.0

0.0

    Development Costs

23.7

22.2

20.1

22.4

21.9

    Government Subsidy for Development Costs

-0.2

-0.2

-

-

-

Total Assets

1,120.1

880.3

749.5

905.4

887.4

 

 

 

 

 

 

    Trade Payable

86.7

77.3

33.9

72.7

67.3

    ST Borrowings

-

-

-

-

1.8

    Accounts Payable

30.2

18.8

36.3

27.1

25.8

    Advances Receivd

0.6

0.5

0.3

0.1

0.2

    Unearned Income

0.1

0.1

0.0

0.1

0.0

    Deposit Withheld

2.0

5.5

1.8

0.9

0.9

    Security Deposit Withheld

0.0

0.1

0.1

0.1

0.5

    Accrued Expenses

12.3

15.5

17.3

16.6

7.9

    Inc. Taxes Pay.

10.5

8.0

20.5

6.9

4.9

    Current LT Liab.

-

-

0.0

0.1

0.1

    Dividend Payable

0.1

0.1

0.1

0.1

0.1

    Currency Futures, Current

0.1

0.1

0.5

-

-

Total Current Liabilities

142.6

125.9

110.8

124.7

109.6

 

 

 

 

 

 

    LT Borrowings

-

-

0.4

0.6

0.7

Total Long Term Debt

-

-

0.4

0.6

0.7

 

 

 

 

 

 

    LT Accrued Expense

2.6

1.2

1.1

0.3

2.0

    Provisions for Retirement and Severance

34.5

32.0

12.6

10.0

12.0

    Deposits for Retirement and Severance Be

-19.2

-19.9

-

-

-

    Transfer to National Pension Fund

-0.1

-0.1

-

-

-

    Deferred Tax-Cr

36.2

6.4

2.1

7.7

8.0

Total Liabilities

196.6

145.5

127.1

143.3

132.3

 

 

 

 

 

 

    Common Stock

113.7

110.8

102.4

137.8

138.7

    Paid-in Capital

266.9

260.1

240.5

323.6

325.7

    Othr Cap Surplus

25.1

24.6

22.5

30.4

30.1

    Voluntary Reserve

326.5

259.0

186.3

225.6

-

    Legal Reserve

17.8

15.9

13.4

16.4

14.9

    Busines Rational

-

-

-

-

30.8

    Finance Reserve

-

-

-

-

0.6

    Tech Devel Reser

-

-

-

-

61.9

    Reserve-Loss on Treasury Stock Disposal

-

-

-

-

1.7

    Rsv-Investments

-

-

-

-

89.3

    Rsv-Dividends

-

-

-

-

1.9

    Unapprop Earning

-

-

-

-

24.7

    Reserve-Voluntar

75.1

74.8

67.9

43.1

34.8

    Treasury Stock

-10.7

-11.6

-12.0

-16.7

-3.3

    Capital Change, Equity Method (Loss)

-

-

-

-0.2

-

    Gains on Valuation of Available for Sale

108.2

-

-

-

-

    Gains on Valuation of Equity Method Secu

0.0

-

-

-

-

    Stock Options

0.9

1.1

1.4

2.0

3.3

    Loss on Treasury Stock Disposal

-

-

-

-

-0.1

Total Equity

923.5

734.8

622.4

762.0

755.0

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

1,120.1

880.3

749.5

905.4

887.4

 

 

 

 

 

 

    S/O-Common Stock

25.4

25.3

25.3

25.2

25.6

Total Common Shares Outstanding

25.4

25.3

25.3

25.2

25.6

T/S-Common Stock

0.4

0.5

0.5

0.6

0.2

Deferred Revenue, Current

0.6

0.5

0.3

0.2

0.3

Full-Time Employees

959

927

886

793

739

Number of Common Shareholders

30,714

28,610

26,179

31,739

-

Long Term Debt Maturing within 1 Year

-

-

0.0

0.1

0.1

Long Term Debt Maturing within 2 Years

-

-

0.0

0.0

0.1

Long Term Debt Maturing within 3 Years

-

-

0.0

0.0

0.0

Long Term Debt Maturing within 4 Years

-

-

0.0

0.0

0.0

Long Term Debt Maturing within 5 Years

-

-

0.1

0.0

0.0

Long Term Debt Remaining Maturities

-

-

0.3

0.5

0.5

Total Long Term Debt, Supplemental

-

-

0.5

0.7

0.8

Operating Leases Due in Year 1

-

-

-

0.1

-

Operating Leases Due in Year 2

-

-

-

0.0

-

Operating Leases Due in Year 3

-

-

-

0.0

-

Total Operating Leases

-

-

-

0.2

-

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Reclassified Normal 
31-Dec-2008

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

73.7

67.9

77.5

43.1

33.7

    Depreciation

42.2

35.7

43.7

61.9

65.6

    Amort. Intangible

3.1

2.8

2.9

2.4

2.6

    Stock Compensation

-

-

-

-

0.0

    Retirement Allowance

7.7

5.5

7.7

7.7

6.4

    Amort-Bad Debt Exp.

0.0

-

0.6

-

0.1

    L-For Exch Translatn

0.3

0.7

1.8

1.0

0.3

    Valuation of Equity

0.9

-

-

-

-

    Loss-Investment Assets Disposal

0.1

-

0.0

-

-

    L-Tangible Asst Disp

0.5

0.6

1.0

1.6

0.4

    Impairment Losses on Property, Plant and

-

3.3

-

-

1.2

    Loss-Disposal of Trade Receivable

0.4

0.5

0.6

1.1

-

    Loss-Other Investment Assets Reduction

-

-

1.0

1.5

-

    L-Dev't Cost Valuatn

-

4.0

1.7

4.5

2.4

    Loss-Valuation of Currency Futures

0.1

0.1

0.6

-

-

    Taxes Related to Shareholders' Equity

-

-

-

-

0.0

    Miscellaneous Loss

0.0

0.1

0.1

0.4

-

    G-For Exch Translatn

-0.5

-0.4

-1.9

-0.7

-0.4

    G-Mkt Secs Valuation

-

-

-

-

-0.1

    Corporate Taxes

-

-

-

-0.2

-

    G-Equity Method Val.

-11.8

-8.9

-5.8

-11.3

-8.4

    G-Tangible Asst Disp

-1.1

0.0

-0.4

-0.3

-0.3

    G-Inv Asset Disposal

-3.3

-

-

-

-

    Gain-Valuation of Currency Futures

-

-0.1

-0.3

-0.3

-

    Reversal of Allowance for Doubtful Accou

-

-0.3

-

0.0

-

    Trade Receivables

-8.6

21.1

-54.2

-18.5

20.6

    Account Receivables

-1.6

-0.7

1.6

1.2

-1.2

    Accrued Income

-0.5

0.1

0.8

-0.8

-0.6

    Advance Payments

1.1

-6.4

-1.1

-0.2

2.5

    Prepaid Expenses

0.5

-0.7

0.3

0.2

-0.6

    Security Deposits

-

-

-

-

0.0

    Inventories

-31.7

22.8

-58.5

1.2

6.1

    Trade Payables

7.6

37.1

-21.7

5.1

-20.2

    Account Payables

10.7

-18.7

18.5

1.5

-6.5

    Advances Received

0.1

0.2

0.2

-0.1

-0.1

    Increase or Decrease in Unearned Income

-

0.0

-

0.0

0.0

    Currency Future Asset

-

-

-

-

0.0

    Currency Forwards Liabilities

-0.1

-0.5

-

-

0.0

    Deposits Withheld

-3.6

3.3

1.3

0.0

0.1

    Security Deposits

-0.1

0.0

0.0

-0.4

0.1

    Accrued Expenses

-3.6

-3.8

5.7

6.2

-3.5

    LT Accrued Expenses

1.3

0.9

1.0

1.0

1.0

    Currency Forwards, A/L

0.1

0.3

0.3

-

-

    Dividend Received from Affiliates

8.2

2.7

5.1

5.0

-

    Accrued Inc Tax

2.2

-12.9

17.5

2.1

-2.8

    Increase-Reserve for Severance & Retirem

-

-

-

0.7

-

    Payment of Retirement Bonus

-6.3

-4.1

-2.4

-4.1

-2.0

    Nation Pension Fund

0.0

0.0

0.0

0.0

0.0

    Retirement Insurance

1.2

-2.8

0.6

-6.3

-2.6

    Deferred Income Tax Credit, A/L

-0.7

3.7

-4.1

-0.2

-0.7

    Deferred Income Tax Debit

1.2

-2.3

0.0

-0.4

-0.2

    Succession to Provision for Retirement a

0.2

-

-

-

-

Cash from Operating Activities

90.2

150.7

41.9

105.6

93.0

 

 

 

 

 

 

    Disposal-ST Marketable Securities

-

-

-

25.3

-

    Dec-Dividends

-

-

-

-

9.6

    Dec-Secs held-Mature

-

0.0

0.0

0.1

0.0

    Dec-Employ LT Ln.

-

-

-

-

0.0

    Dec-Guarantee Dep

0.4

0.0

0.0

0.0

0.4

    Decrease-ST Financial Assets

0.0

-

81.8

-

-

    Dec. Other Inv Asset

7.4

-

0.2

0.5

0.0

    Disposal-Land

-

-

-

0.1

-

    Disposal of Building

-

-

-

-

0.5

    Disposal Structure

-

-

0.0

0.0

0.0

    Disposal Machinery

2.3

0.9

0.3

0.3

0.4

    Disp-Vehicles

0.1

0.0

0.1

0.0

0.1

    Disp Tools/Equipment

0.4

0.0

0.1

0.0

0.5

    Increase-Government Subsidy

0.0

0.0

0.0

0.1

-

    Proceeds from Development Costs

1.3

-

-

-

-

    Disp-Fixtures

0.0

0.0

0.0

0.0

0.0

    Decrease-Other Non-Current Assets

0.7

-

-

-

-

    Purchase of Short-term Financial Instrum

-17.3

-54.9

-

-18.3

-27.0

    Inc-ST Mkt. secs Sale

-

-

-

-

-10.4

    Inc-Secs held- Matur

-0.1

-0.1

0.0

0.0

0.0

    Increase-Investment Securities

-

-

-0.4

-

-

    Purchase of Equity Method Securities

-0.5

-1.3

-

-

-

    Inc-Employ LT Ln.

-

-

-

-

-0.1

    Inc in Guarant Depos

-0.5

-0.8

-0.6

-0.2

-0.2

    Inc Other Invt Ast

-1.4

-0.7

-0.2

-

-0.1

    Acq. Const. In Prog

-61.7

-53.1

-74.1

-49.3

-36.7

    Inc. in Develop.Cost

-5.3

-7.7

-8.5

-7.6

-9.0

    Increase in ST Loans

-2.5

-

-

-

-

Cash from Investing Activities

-76.6

-117.6

-1.4

-49.0

-71.9

 

 

 

 

 

 

    Inc in ST Borrowings

-

-

-

-

40.5

    Exercise-Stock Options

-

-

-

2.8

0.9

    Disposal-Treasury Stock

0.7

1.2

0.2

-

-

    Dec of ST Borrowings

-

-

-

-1.8

-41.0

    Dec-Curr LT Liabs

-

0.0

-0.1

-0.1

-0.1

    Repayments of Long-term Borrowings

-

-0.4

-

-

-

    Acquisition-Treasury Stock

-

-

-

-17.1

-

    Dividends Paid

-14.2

-12.9

-13.8

-16.6

-17.4

Cash from Financing Activities

-13.6

-12.2

-13.6

-32.8

-17.2

 

 

 

 

 

 

Net Change in Cash

0.0

21.0

26.9

23.9

3.9

 

 

 

 

 

 

Net Cash - Beginning Balance

73.9

46.0

26.4

7.4

3.3

Net Cash - Ending Balance

73.9

66.9

53.3

31.3

7.2

 

 

Financial Health

 

Financials in: USD (mil) 

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

Key Indicators USD (mil)

 

Quarter
Ending
30-Jun-2011

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2010

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

322.2

18.11%

977.3

8.82%

10.86%

7.39%

Research & Development1

-

-

7.1

98.64%

20.09%

27.51%

Operating Income1

28.5

-7.86%

52.5

-33.08%

27.72%

8.02%

Income Available to Common Excl Extraord Items1

23.9

-13.16%

73.7

-1.73%

28.56%

11.12%

Basic EPS Excl Extraord Items1

0.94

-13.44%

2.91

-1.92%

28.61%

11.28%

Capital Expenditures2

94.1

183.22%

67.0

-0.24%

13.58%

3.71%

Cash from Operating Activities2

58.2

-10.98%

90.2

-45.78%

2.04%

-2.45%

Free Cash Flow

-37.1

-

23.6

-76.63%

-16.03%

-12.91%

Total Assets3

1,237.6

19.24%

1,120.1

24.00%

14.47%

8.67%

Total Liabilities3

238.1

30.25%

196.6

31.67%

18.47%

7.82%

Total Long Term Debt3

0.0

-

0.0

-

-

-

Employees3

-

-

959

3.45%

6.54%

5.35%

Total Common Shares Outstanding3

25.4

0.30%

25.4

0.19%

0.16%

-0.14%

1-ExchangeRate: KRW to USD Average for Period

1083.436022

 

1156.281981

 

 

 

2-ExchangeRate: KRW to USD Average for Period

1101.856011

 

1156.281981

 

 

 

3-ExchangeRate: KRW to USD Period End Date

1067.650000

 

1134.900000

 

 

 

Key Ratios

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Profitability

Gross Margin

12.41%

15.22%

16.40%

11.00%

8.89%

Operating Margin

5.37%

8.74%

10.27%

3.51%

1.64%

Pretax Margin

9.21%

10.00%

9.74%

6.05%

5.37%

Net Profit Margin

7.54%

8.35%

7.54%

4.83%

4.31%

Financial Strength

Current Ratio

3.56

3.46

3.26

3.40

3.58

Long Term Debt/Equity

0.00

0.00

0.00

0.00

0.00

Total Debt/Equity

0.00

0.00

0.00

0.00

0.00

Management Effectiveness

Return on Assets

7.42%

8.80%

9.52%

4.79%

3.86%

Return on Equity

8.95%

10.57%

11.39%

5.66%

4.63%

Efficiency

Receivables Turnover

6.74

5.99

7.11

6.70

5.99

Inventory Turnover

6.16

5.72

7.15

7.34

6.46

Asset Turnover

0.98

1.05

1.26

0.99

0.90

Market Valuation USD (mil)

P/E (TTM)

16.52

.

Enterprise Value2

1,237.1

Price/Sales (TTM)

1.17

.

Enterprise Value/Revenue (TTM)

1.08

Price/Book (MRQ)

1.33

.

Enterprise Value/EBITDA (TTM)

10.76

Market Cap as of 28-Oct-20111

1,300.4

.

 

 

1-ExchangeRate: KRW to USD on 28-Oct-2011

1105.050000

 

 

 

2-ExchangeRate: KRW to USD on 30-Jun-2011

1067.650000

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil) 

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Financial Strength

Current Ratio

3.56

3.46

3.26

3.40

3.58

Quick/Acid Test Ratio

2.41

2.43

2.04

2.49

2.54

Working Capital1

364.3

310.1

250.0

298.9

283.1

Long Term Debt/Equity

0.00

0.00

0.00

0.00

0.00

Total Debt/Equity

0.00

0.00

0.00

0.00

0.00

Long Term Debt/Total Capital

0.00

0.00

0.00

0.00

0.00

Total Debt/Total Capital

0.00

0.00

0.00

0.00

0.00

Payout Ratio

19.34%

18.97%

19.24%

37.98%

47.80%

Effective Tax Rate

18.13%

16.50%

22.57%

20.12%

19.72%

Total Capital1

923.5

734.8

622.8

762.7

757.7

 

 

 

 

 

 

Efficiency

Asset Turnover

0.98

1.05

1.26

0.99

0.90

Inventory Turnover

6.16

5.72

7.15

7.34

6.46

Days In Inventory

59.23

63.76

51.06

49.75

56.49

Receivables Turnover

6.74

5.99

7.11

6.70

5.99

Days Receivables Outstanding

54.16

60.91

51.34

54.46

60.98

Revenue/Employee2

1,038,280

961,951

1,013,377

1,117,289

1,085,256

Operating Income/Employee2

55,780

84,036

104,118

39,255

17,784

EBITDA/Employee2

103,888

129,595

150,147

119,836

112,569

 

 

 

 

 

 

Profitability

Gross Margin

12.41%

15.22%

16.40%

11.00%

8.89%

Operating Margin

5.37%

8.74%

10.27%

3.51%

1.64%

EBITDA Margin

10.01%

13.47%

14.82%

10.73%

10.37%

EBIT Margin

5.37%

8.74%

10.27%

3.51%

1.64%

Pretax Margin

9.21%

10.00%

9.74%

6.05%

5.37%

Net Profit Margin

7.54%

8.35%

7.54%

4.83%

4.31%

R&D Expense/Revenue

0.72%

0.40%

0.44%

0.57%

0.26%

COGS/Revenue

87.59%

84.78%

83.60%

89.00%

91.11%

SG&A Expense/Revenue

6.23%

6.00%

5.61%

6.80%

6.86%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

7.42%

8.80%

9.52%

4.79%

3.86%

Return on Equity

8.95%

10.57%

11.39%

5.66%

4.63%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

0.93

3.89

-1.41

1.92

1.90

Operating Cash Flow/Share 2

3.62

6.52

1.45

4.15

3.73

1-ExchangeRate: KRW to USD Period End Date

1134.9

1164.475

1259.55

936.05

930

2-ExchangeRate: KRW to USD Average for Period

1134.9

1164.475

1259.55

936.05

930

 

Current Market Multiples

Market Cap/Earnings (TTM)

16.76

Market Cap/Equity (MRQ)

1.35

Market Cap/Revenue (TTM)

1.17

Market Cap/EBIT (TTM)

21.96

Market Cap/EBITDA (TTM)

11.71

Enterprise Value/Earnings (TTM)

15.40

Enterprise Value/Equity (MRQ)

1.24

Enterprise Value/Revenue (TTM)

1.08

Enterprise Value/EBIT (TTM)

20.18

Enterprise Value/EBITDA (TTM)

10.76

 

Annual Income Statement

Standardized

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Net Sales

977.3

813.5

1,027.6

892.6

781.0

Revenue

977.3

813.5

1,027.6

892.6

781.0

Total Revenue

977.3

813.5

1,027.6

892.6

781.0

 

 

 

 

 

 

    Cost of Revenue

856.1

689.7

859.0

794.4

711.6

Cost of Revenue, Total

856.1

689.7

859.0

794.4

711.6

Gross Profit

121.2

123.8

168.5

98.2

69.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

41.0

35.2

43.2

46.6

40.8

    Labor & Related Expense

18.5

12.2

13.0

12.5

11.2

    Advertising Expense

1.4

1.4

1.5

1.6

1.6

Total Selling/General/Administrative Expenses

60.9

48.8

57.6

60.7

53.6

Research & Development

7.1

3.2

4.6

5.1

2.0

    Depreciation

0.6

0.6

0.7

0.8

0.8

    Amortization of Intangibles

0.0

0.0

0.0

0.1

0.1

Depreciation/Amortization

0.7

0.6

0.7

0.9

0.9

    Other Operating Expense

0.1

0.1

0.1

0.1

0.1

Other Operating Expenses, Total

0.1

0.1

0.1

0.1

0.1

Total Operating Expense

924.8

742.5

922.0

861.2

768.2

 

 

 

 

 

 

Operating Income

52.5

71.1

105.6

31.4

12.8

 

 

 

 

 

 

        Interest Expense - Non-Operating

-

0.0

-0.1

-0.1

-0.1

    Interest Expense, Net Non-Operating

-

0.0

-0.1

-0.1

-0.1

        Interest Income - Non-Operating

6.7

4.4

7.5

8.3

5.1

        Investment Income - Non-Operating

22.2

10.7

-9.5

13.9

24.7

    Interest/Investment Income - Non-Operating

29.0

15.2

-2.0

22.3

29.8

Interest Income (Expense) - Net Non-Operating Total

29.0

15.2

-2.1

22.1

29.6

Gain (Loss) on Sale of Assets

0.2

-4.4

-1.3

-2.4

-1.3

    Other Non-Operating Income (Expense)

8.3

-0.5

-2.1

2.9

0.8

Other, Net

8.3

-0.5

-2.1

2.9

0.8

Income Before Tax

90.0

81.3

100.1

54.0

41.9

 

 

 

 

 

 

Total Income Tax

16.3

13.4

22.6

10.9

8.3

Income After Tax

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Net Income Before Extraord Items

73.7

67.9

77.5

43.1

33.7

Net Income

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

25.3

25.3

25.3

25.4

25.6

Basic EPS Excl Extraord Items

2.91

2.68

3.07

1.70

1.31

Basic/Primary EPS Incl Extraord Items

2.91

2.68

3.07

1.70

1.31

Dilution Adjustment

0.0

0.0

0.0

-

0.0

Diluted Net Income

73.7

67.9

77.5

43.1

33.7

Diluted Weighted Average Shares

25.4

25.4

25.4

25.5

25.7

Diluted EPS Excl Extraord Items

2.90

2.67

3.05

1.69

1.31

Diluted EPS Incl Extraord Items

2.90

2.67

3.05

1.69

1.31

Dividends per Share - Common Stock Primary Issue

0.56

0.51

0.59

0.65

0.63

Gross Dividends - Common Stock

14.3

12.9

14.9

16.3

16.1

Interest Expense, Supplemental

-

0.0

0.1

0.1

0.1

Depreciation, Supplemental

42.2

35.7

43.7

61.9

65.6

Total Special Items

-0.2

4.4

1.3

2.4

1.3

Normalized Income Before Tax

89.8

85.8

101.4

56.4

43.2

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

0.7

0.3

0.5

0.3

Inc Tax Ex Impact of Sp Items

16.3

14.2

22.9

11.3

8.5

Normalized Income After Tax

73.5

71.6

78.5

45.0

34.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

73.5

71.6

78.5

45.0

34.7

 

 

 

 

 

 

Basic Normalized EPS

2.90

2.83

3.11

1.78

1.36

Diluted Normalized EPS

2.89

2.82

3.09

1.76

1.35

Amort of Intangibles, Supplemental

3.1

2.8

2.9

2.4

2.6

Rental Expenses

2.0

1.6

1.3

1.2

1.2

Advertising Expense, Supplemental

1.4

1.4

1.5

1.6

1.6

Research & Development Exp, Supplemental

7.1

3.2

4.6

7.0

3.3

Normalized EBIT

52.5

71.1

105.6

31.4

12.8

Normalized EBITDA

97.8

109.6

152.2

95.7

81.0

 

 

 

Interim Income Statement

Standardized

 

Financials in: USD (mil) 

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

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Restated Normal 
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1083.436022

1120.28956

1132.465591

1183.132366

1164.000484

 

 

 

 

 

 

    Net Sales

322.2

277.5

257.5

232.0

253.9

Revenue

322.2

277.5

257.5

232.0

253.9

Total Revenue

322.2

277.5

257.5

232.0

253.9

 

 

 

 

 

 

    Cost of Revenue

277.6

253.7

224.6

204.3

219.2

Cost of Revenue, Total

277.6

253.7

224.6

204.3

219.2

Gross Profit

44.6

23.9

32.9

27.7

34.7

 

 

 

 

 

 

    Selling/General/Administrative Expense

19.1

10.7

11.2

9.1

16.2

    Labor & Related Expense

-

4.5

5.2

5.4

-

    Advertising Expense

-

-

0.4

0.4

-

Total Selling/General/Administrative Expenses

19.1

15.2

16.9

14.9

16.2

Research & Development

-

3.5

2.3

2.2

-

    Depreciation

-

0.1

0.2

0.2

-

    Amortization of Intangibles

-

0.0

0.0

0.0

-

Depreciation/Amortization

-

0.2

0.2

0.2

-

        Investment Income - Operating

-

-15.5

-

-

-

    Interest/Investment Income - Operating

-

-15.5

-

-

-

Interest Expense (Income) - Net Operating Total

-

-15.5

-

-

-

    Loss (Gain) on Sale of Assets - Operating

-

0.0

-

-

-

Unusual Expense (Income)

-

0.0

-

-

-

    Other Operating Expense

4.0

0.1

-

-

7.4

    Other, Net

-6.9

-1.3

-

-

-17.7

Other Operating Expenses, Total

-2.9

-1.2

-

-

-10.3

Total Operating Expense

293.7

255.8

244.0

221.5

225.2

 

 

 

 

 

 

Operating Income

28.5

21.7

13.5

10.5

28.7

 

 

 

 

 

 

        Interest Expense - Non-Operating

-

-0.1

0.0

0.0

-

    Interest Expense, Net Non-Operating

-

-0.1

0.0

0.0

-

        Interest Income - Non-Operating

-

1.4

1.9

1.8

-

        Investment Income - Non-Operating

0.8

0.1

2.0

7.2

1.2

    Interest/Investment Income - Non-Operating

0.8

1.5

3.8

9.0

1.2

Interest Income (Expense) - Net Non-Operating Total

0.8

1.4

3.8

9.0

1.2

Gain (Loss) on Sale of Assets

-

-

-0.6

-0.1

-

    Other Non-Operating Income (Expense)

-

0.0

0.4

1.7

-

Other, Net

-

0.0

0.4

1.7

-

Income Before Tax

29.2

23.1

17.1

21.0

29.9

 

 

 

 

 

 

Total Income Tax

5.3

2.5

2.4

4.1

4.3

Income After Tax

23.9

20.6

14.7

17.0

25.6

 

 

 

 

 

 

Net Income Before Extraord Items

23.9

20.6

14.7

17.0

25.6

Net Income

23.9

20.6

14.7

17.0

25.6

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

23.9

20.6

14.7

17.0

25.6

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

23.9

20.6

14.7

17.0

25.6

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

25.4

25.4

25.4

25.4

25.3

Basic EPS Excl Extraord Items

0.94

0.81

0.58

0.67

1.01

Basic/Primary EPS Incl Extraord Items

0.94

0.81

0.58

0.67

1.01

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

23.9

20.6

14.7

17.0

25.6

Diluted Weighted Average Shares

25.5

25.4

25.4

25.4

25.4

Diluted EPS Excl Extraord Items

0.94

0.81

0.58

0.67

1.01

Diluted EPS Incl Extraord Items

0.94

0.81

0.58

0.67

1.01

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.57

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

14.6

0.0

0.0

Interest Expense, Supplemental

0.1

0.1

0.0

0.0

0.1

Depreciation, Supplemental

12.6

11.2

11.2

10.5

10.4

Total Special Items

-

0.0

0.6

0.1

-

Normalized Income Before Tax

29.2

23.1

17.7

21.1

29.9

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-

0.0

0.1

0.0

-

Inc Tax Ex Impact of Sp Items

5.3

2.5

2.5

4.1

4.3

Normalized Income After Tax

23.9

20.6

15.2

17.0

25.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

23.9

20.6

15.2

17.0

25.6

 

 

 

 

 

 

Basic Normalized EPS

0.94

0.81

0.60

0.67

1.01

Diluted Normalized EPS

0.94

0.81

0.60

0.67

1.01

Amort of Intangibles, Supplemental

2.6

1.1

0.8

0.8

0.9

Rental Expenses

0.6

0.6

0.5

0.5

0.5

Advertising Expense, Supplemental

-

-

0.4

0.4

-

Research & Development Exp, Supplemental

3.6

3.5

2.3

2.2

1.4

Normalized EBIT

28.5

6.2

13.5

10.5

28.7

Normalized EBITDA

43.6

18.5

25.6

21.8

40.0

 

 

Annual Balance Sheet

Standardized

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

75.3

73.4

46.6

31.1

7.4

    Short Term Investments

114.6

94.5

31.8

138.9

146.9

Cash and Short Term Investments

189.9

167.9

78.3

170.0

154.4

        Accounts Receivable - Trade, Gross

146.6

134.8

147.1

136.3

119.3

        Provision for Doubtful Accounts

-1.2

-1.1

-1.4

-1.3

-1.3

    Trade Accounts Receivable - Net

147.0

134.8

146.7

137.4

119.6

    Other Receivables

7.2

2.9

1.2

3.5

4.7

Total Receivables, Net

154.2

137.7

147.9

140.9

124.3

    Inventories - Finished Goods

72.4

54.7

67.9

43.0

57.7

    Inventories - Work In Progress

35.5

29.8

28.5

21.5

18.0

    Inventories - Raw Materials

30.4

19.1

23.0

28.5

20.5

    Inventories - Other

18.5

19.3

11.1

14.0

12.5

Total Inventory

156.9

123.0

130.5

107.0

108.7

Prepaid Expenses

4.0

4.3

3.3

4.8

5.1

    Deferred Income Tax - Current Asset

1.9

3.1

0.5

0.6

0.2

    Other Current Assets

-

0.1

0.3

0.3

0.0

Other Current Assets, Total

1.9

3.2

0.8

0.9

0.2

Total Current Assets

506.8

436.0

360.8

423.6

392.7

 

 

 

 

 

 

        Buildings

191.5

166.4

147.7

191.8

188.8

        Land/Improvements

19.7

19.2

14.5

19.5

19.6

        Machinery/Equipment

712.7

635.0

552.1

760.0

735.3

        Construction in Progress

25.5

51.9

47.1

13.0

15.8

    Property/Plant/Equipment - Gross

949.3

872.4

761.4

984.2

959.5

    Accumulated Depreciation

-633.4

-582.2

-505.8

-671.7

-626.2

Property/Plant/Equipment - Net

315.9

290.2

255.5

312.6

333.4

Intangibles, Net

23.8

22.2

20.3

22.7

22.5

    LT Investment - Affiliate Companies

43.4

39.1

28.6

37.4

31.6

    LT Investments - Other

220.5

84.4

78.0

101.4

99.2

Long Term Investments

263.9

123.5

106.6

138.8

130.8

Note Receivable - Long Term

-

-

-

-

0.1

    Other Long Term Assets

9.6

8.3

6.3

7.7

7.9

Other Long Term Assets, Total

9.6

8.3

6.3

7.7

7.9

Total Assets

1,120.1

880.3

749.5

905.4

887.4

 

 

 

 

 

 

Accounts Payable

86.7

77.3

33.9

72.7

67.3

Accrued Expenses

12.3

15.5

17.3

16.6

7.9

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

1.8

Current Portion - Long Term Debt/Capital Leases

-

-

0.0

0.1

0.1

    Dividends Payable

0.1

0.1

0.1

0.1

0.1

    Customer Advances

0.6

0.5

0.3

0.2

0.3

    Security Deposits

0.0

0.1

0.1

0.1

0.5

    Income Taxes Payable

10.5

8.0

20.5

6.9

4.9

    Other Payables

30.2

18.8

36.3

27.1

25.8

    Other Current Liabilities

2.1

5.6

2.3

0.9

0.9

Other Current liabilities, Total

43.6

33.1

59.5

35.3

32.5

Total Current Liabilities

142.6

125.9

110.8

124.7

109.6

 

 

 

 

 

 

    Long Term Debt

-

-

0.4

0.6

0.7

Total Long Term Debt

0.0

0.0

0.4

0.6

0.7

Total Debt

0.0

0.0

0.5

0.7

2.7

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

36.2

6.4

2.1

7.7

8.0

Deferred Income Tax

36.2

6.4

2.1

7.7

8.0

    Pension Benefits - Underfunded

15.2

12.0

12.6

10.0

12.0

    Other Long Term Liabilities

2.6

1.2

1.1

0.3

2.0

Other Liabilities, Total

17.8

13.3

13.7

10.3

14.0

Total Liabilities

196.6

145.5

127.1

143.3

132.3

 

 

 

 

 

 

    Common Stock

113.7

110.8

102.4

137.8

138.7

Common Stock

113.7

110.8

102.4

137.8

138.7

Additional Paid-In Capital

292.9

285.9

264.4

356.0

359.1

Retained Earnings (Accumulated Deficit)

419.4

349.7

267.6

285.1

260.5

Treasury Stock - Common

-10.7

-11.6

-12.0

-16.7

-3.3

Unrealized Gain (Loss)

108.2

-

-

-0.2

-

Total Equity

923.5

734.8

622.4

762.0

755.0

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,120.1

880.3

749.5

905.4

887.4

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

25.4

25.3

25.3

25.2

25.6

Total Common Shares Outstanding

25.4

25.3

25.3

25.2

25.6

Treasury Shares - Common Stock Primary Issue

0.4

0.5

0.5

0.6

0.2

Employees

959

927

886

793

739

Number of Common Shareholders

30,714

28,610

26,179

31,739

-

Deferred Revenue - Current

0.6

0.5

0.3

0.2

0.3

Total Long Term Debt, Supplemental

-

-

0.5

0.7

0.8

Long Term Debt Maturing within 1 Year

-

-

0.0

0.1

0.1

Long Term Debt Maturing in Year 2

-

-

0.0

0.0

0.1

Long Term Debt Maturing in Year 3

-

-

0.0

0.0

0.0

Long Term Debt Maturing in Year 4

-

-

0.0

0.0

0.0

Long Term Debt Maturing in Year 5

-

-

0.1

0.0

0.0

Long Term Debt Maturing in 2-3 Years

-

-

0.1

0.1

0.1

Long Term Debt Maturing in 4-5 Years

-

-

0.1

0.1

0.1

Long Term Debt Matur. in Year 6 & Beyond

-

-

0.3

0.5

0.5

Total Operating Leases, Supplemental

-

-

-

0.2

-

Operating Lease Payments Due in Year 1

-

-

-

0.1

-

Operating Lease Payments Due in Year 2

-

-

-

0.0

-

Operating Lease Payments Due in Year 3

-

-

-

0.0

-

Operating Lease Pymts. Due in 2-3 Years

-

-

-

0.1

-

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

-

-

-

0.0

-

 

 

 

Interim Balance Sheet

Standardized

 

Financials in: USD (mil) 

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

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

UpdateType/Date

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Restated Normal 
31-Mar-2011

Updated Normal 
30-Sep-2010

Updated Normal 
30-Jun-2010

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1067.65

1096.95

1134.9

1140.25

1221.965

 

 

 

 

 

 

    Cash & Equivalents

59.8

65.5

75.3

61.8

75.4

    Short Term Investments

66.4

72.9

114.6

149.1

106.4

Cash and Short Term Investments

126.1

138.4

189.9

210.9

181.8

        Accounts Receivable - Trade, Gross

212.1

182.8

157.2

143.4

145.6

        Provision for Doubtful Accounts

0.0

0.0

-0.1

-1.1

-1.1

    Trade Accounts Receivable - Net

213.1

188.7

158.7

144.3

145.9

    Other Receivables

6.4

19.8

7.2

3.4

6.9

Total Receivables, Net

219.6

208.5

165.9

147.7

152.8

    Inventories - Finished Goods

69.8

71.7

72.4

52.3

43.8

    Inventories - Work In Progress

20.5

34.7

35.5

33.2

32.0

    Inventories - Raw Materials

34.7

28.4

30.4

26.1

25.2

    Inventories - Other

19.1

18.9

18.5

14.1

15.1

Total Inventory

144.1

153.7

156.9

125.7

116.2

Prepaid Expenses

2.9

3.8

4.6

1.3

2.2

    Deferred Income Tax - Current Asset

-

-

-

1.7

2.1

    Other Current Assets

0.0

0.0

0.0

0.0

0.3

Other Current Assets, Total

0.0

0.0

0.0

1.7

2.3

Total Current Assets

492.7

504.4

517.2

487.4

455.3

 

 

 

 

 

 

        Buildings

208.3

198.5

191.5

186.4

171.6

        Land/Improvements

20.9

20.4

19.7

19.6

18.3

        Machinery/Equipment

729.4

697.9

671.6

691.9

639.0

        Construction in Progress

98.4

69.4

25.5

31.4

23.5

        Other Property/Plant/Equipment

47.2

44.1

41.0

-

-

    Property/Plant/Equipment - Gross

1,104.2

1,030.3

949.3

929.3

852.3

    Accumulated Depreciation

-695.9

-666.6

-633.4

-622.7

-571.2

Property/Plant/Equipment - Net

408.3

363.7

315.9

306.6

281.1

Intangibles, Net

28.8

30.6

30.7

23.6

21.7

    LT Investment - Affiliate Companies

75.7

55.4

40.8

40.6

35.4

    LT Investments - Other

227.8

228.6

220.5

109.9

104.1

Long Term Investments

303.5

284.0

261.3

150.5

139.6

    Other Long Term Assets

4.3

4.0

3.7

9.8

9.1

Other Long Term Assets, Total

4.3

4.0

3.7

9.8

9.1

Total Assets

1,237.6

1,186.8

1,128.7

977.9

906.8

 

 

 

 

 

 

Accounts Payable

97.7

89.9

86.7

84.9

86.9

Accrued Expenses

13.0

8.9

15.4

9.1

11.4

Notes Payable/Short Term Debt

17.3

13.2

10.6

0.0

0.0

Current Portion - Long Term Debt/Capital Leases

-

-

-

-

0.0

    Dividends Payable

0.1

15.1

0.1

0.1

0.1

    Customer Advances

1.0

1.3

0.6

0.8

0.8

    Security Deposits

0.0

0.0

0.0

0.0

0.1

    Income Taxes Payable

9.7

5.0

10.5

8.2

8.2

    Other Payables

29.7

29.8

30.2

24.5

22.5

    Other Current Liabilities

1.1

1.2

2.1

1.5

4.0

Other Current liabilities, Total

41.5

52.3

43.6

34.9

35.6

Total Current Liabilities

169.4

164.3

156.2

128.9

133.9

 

 

 

 

 

 

    Long Term Debt

-

-

-

-

0.0

Total Long Term Debt

0.0

0.0

0.0

0.0

0.0

Total Debt

17.3

13.2

10.6

0.0

0.0

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

38.2

40.6

33.2

11.2

10.6

Deferred Income Tax

38.2

40.6

33.2

11.2

10.6

    Pension Benefits - Underfunded

23.3

21.4

18.6

14.9

12.8

    Other Long Term Liabilities

7.3

6.2

5.1

4.4

2.4

Other Liabilities, Total

30.6

27.6

23.7

19.3

15.2

Total Liabilities

238.1

232.6

213.2

159.4

159.7

 

 

 

 

 

 

    Common Stock

120.8

117.6

113.7

113.1

105.6

Common Stock

120.8

117.6

113.7

113.1

105.6

Additional Paid-In Capital

310.9

302.7

292.9

291.8

272.3

Retained Earnings (Accumulated Deficit)

467.8

431.7

411.5

402.8

359.4

Treasury Stock - Common

-10.0

-10.1

-10.7

-11.2

-10.4

Unrealized Gain (Loss)

109.8

112.3

108.2

22.0

20.2

    Other Equity

-

0.0

0.0

-

-

Other Equity, Total

-

0.0

0.0

-

-

Total Equity

999.4

954.2

915.6

818.5

747.1

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,237.6

1,186.8

1,128.7

977.9

906.8

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

25.4

25.4

25.4

25.4

25.4

Total Common Shares Outstanding

25.4

25.4

25.4

25.4

25.4

Treasury Shares - Common Stock Primary Issue

0.4

0.4

0.4

0.4

0.5

Employees

997

1,008

959

965

942

Number of Common Shareholders

36,841

-

30,714

-

-

Deferred Revenue - Current

1.0

1.3

0.6

0.8

0.8

 

 

Annual Income Statement

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Net Sales

977.3

813.5

1,027.6

892.6

781.0

Revenue

977.3

813.5

1,027.6

892.6

781.0

Total Revenue

977.3

813.5

1,027.6

892.6

781.0

 

 

 

 

 

 

    Cost of Revenue

856.1

689.7

859.0

794.4

711.6

Cost of Revenue, Total

856.1

689.7

859.0

794.4

711.6

Gross Profit

121.2

123.8

168.5

98.2

69.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

41.0

35.2

43.2

46.6

40.8

    Labor & Related Expense

18.5

12.2

13.0

12.5

11.2

    Advertising Expense

1.4

1.4

1.5

1.6

1.6

Total Selling/General/Administrative Expenses

60.9

48.8

57.6

60.7

53.6

Research & Development

7.1

3.2

4.6

5.1

2.0

    Depreciation

0.6

0.6

0.7

0.8

0.8

    Amortization of Intangibles

0.0

0.0

0.0

0.1

0.1

Depreciation/Amortization

0.7

0.6

0.7

0.9

0.9

    Other Operating Expense

0.1

0.1

0.1

0.1

0.1

Other Operating Expenses, Total

0.1

0.1

0.1

0.1

0.1

Total Operating Expense

924.8

742.5

922.0

861.2

768.2

 

 

 

 

 

 

Operating Income

52.5

71.1

105.6

31.4

12.8

 

 

 

 

 

 

        Interest Expense - Non-Operating

-

0.0

-0.1

-0.1

-0.1

    Interest Expense, Net Non-Operating

-

0.0

-0.1

-0.1

-0.1

        Interest Income - Non-Operating

6.7

4.4

7.5

8.3

5.1

        Investment Income - Non-Operating

22.2

10.7

-9.5

13.9

24.7

    Interest/Investment Income - Non-Operating

29.0

15.2

-2.0

22.3

29.8

Interest Income (Expense) - Net Non-Operating Total

29.0

15.2

-2.1

22.1

29.6

Gain (Loss) on Sale of Assets

0.2

-4.4

-1.3

-2.4

-1.3

    Other Non-Operating Income (Expense)

8.3

-0.5

-2.1

2.9

0.8

Other, Net

8.3

-0.5

-2.1

2.9

0.8

Income Before Tax

90.0

81.3

100.1

54.0

41.9

 

 

 

 

 

 

Total Income Tax

16.3

13.4

22.6

10.9

8.3

Income After Tax

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Net Income Before Extraord Items

73.7

67.9

77.5

43.1

33.7

Net Income

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

25.3

25.3

25.3

25.4

25.6

Basic EPS Excl Extraord Items

2.91

2.68

3.07

1.70

1.31

Basic/Primary EPS Incl Extraord Items

2.91

2.68

3.07

1.70

1.31

Dilution Adjustment

0.0

0.0

0.0

-

0.0

Diluted Net Income

73.7

67.9

77.5

43.1

33.7

Diluted Weighted Average Shares

25.4

25.4

25.4

25.5

25.7

Diluted EPS Excl Extraord Items

2.90

2.67

3.05

1.69

1.31

Diluted EPS Incl Extraord Items

2.90

2.67

3.05

1.69

1.31

Dividends per Share - Common Stock Primary Issue

0.56

0.51

0.59

0.65

0.63

Gross Dividends - Common Stock

14.3

12.9

14.9

16.3

16.1

Interest Expense, Supplemental

-

0.0

0.1

0.1

0.1

Depreciation, Supplemental

42.2

35.7

43.7

61.9

65.6

Total Special Items

-0.2

4.4

1.3

2.4

1.3

Normalized Income Before Tax

89.8

85.8

101.4

56.4

43.2

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

0.7

0.3

0.5

0.3

Inc Tax Ex Impact of Sp Items

16.3

14.2

22.9

11.3

8.5

Normalized Income After Tax

73.5

71.6

78.5

45.0

34.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

73.5

71.6

78.5

45.0

34.7

 

 

 

 

 

 

Basic Normalized EPS

2.90

2.83

3.11

1.78

1.36

Diluted Normalized EPS

2.89

2.82

3.09

1.76

1.35

Amort of Intangibles, Supplemental

3.1

2.8

2.9

2.4

2.6

Rental Expenses

2.0

1.6

1.3

1.2

1.2

Advertising Expense, Supplemental

1.4

1.4

1.5

1.6

1.6

Research & Development Exp, Supplemental

7.1

3.2

4.6

7.0

3.3

Normalized EBIT

52.5

71.1

105.6

31.4

12.8

Normalized EBITDA

97.8

109.6

152.2

95.7

81.0

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

75.3

73.4

46.6

31.1

7.4

    Short Term Investments

114.6

94.5

31.8

138.9

146.9

Cash and Short Term Investments

189.9

167.9

78.3

170.0

154.4

        Accounts Receivable - Trade, Gross

146.6

134.8

147.1

136.3

119.3

        Provision for Doubtful Accounts

-1.2

-1.1

-1.4

-1.3

-1.3

    Trade Accounts Receivable - Net

147.0

134.8

146.7

137.4

119.6

    Other Receivables

7.2

2.9

1.2

3.5

4.7

Total Receivables, Net

154.2

137.7

147.9

140.9

124.3

    Inventories - Finished Goods

72.4

54.7

67.9

43.0

57.7

    Inventories - Work In Progress

35.5

29.8

28.5

21.5

18.0

    Inventories - Raw Materials

30.4

19.1

23.0

28.5

20.5

    Inventories - Other

18.5

19.3

11.1

14.0

12.5

Total Inventory

156.9

123.0

130.5

107.0

108.7

Prepaid Expenses

4.0

4.3

3.3

4.8

5.1

    Deferred Income Tax - Current Asset

1.9

3.1

0.5

0.6

0.2

    Other Current Assets

-

0.1

0.3

0.3

0.0

Other Current Assets, Total

1.9

3.2

0.8

0.9

0.2

Total Current Assets

506.8

436.0

360.8

423.6

392.7

 

 

 

 

 

 

        Buildings

191.5

166.4

147.7

191.8

188.8

        Land/Improvements

19.7

19.2

14.5

19.5

19.6

        Machinery/Equipment

712.7

635.0

552.1

760.0

735.3

        Construction in Progress

25.5

51.9

47.1

13.0

15.8

    Property/Plant/Equipment - Gross

949.3

872.4

761.4

984.2

959.5

    Accumulated Depreciation

-633.4

-582.2

-505.8

-671.7

-626.2

Property/Plant/Equipment - Net

315.9

290.2

255.5

312.6

333.4

Intangibles, Net

23.8

22.2

20.3

22.7

22.5

    LT Investment - Affiliate Companies

43.4

39.1

28.6

37.4

31.6

    LT Investments - Other

220.5

84.4

78.0

101.4

99.2

Long Term Investments

263.9

123.5

106.6

138.8

130.8

Note Receivable - Long Term

-

-

-

-

0.1

    Other Long Term Assets

9.6

8.3

6.3

7.7

7.9

Other Long Term Assets, Total

9.6

8.3

6.3

7.7

7.9

Total Assets

1,120.1

880.3

749.5

905.4

887.4

 

 

 

 

 

 

Accounts Payable

86.7

77.3

33.9

72.7

67.3

Accrued Expenses

12.3

15.5

17.3

16.6

7.9

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

1.8

Current Portion - Long Term Debt/Capital Leases

-

-

0.0

0.1

0.1

    Dividends Payable

0.1

0.1

0.1

0.1

0.1

    Customer Advances

0.6

0.5

0.3

0.2

0.3

    Security Deposits

0.0

0.1

0.1

0.1

0.5

    Income Taxes Payable

10.5

8.0

20.5

6.9

4.9

    Other Payables

30.2

18.8

36.3

27.1

25.8

    Other Current Liabilities

2.1

5.6

2.3

0.9

0.9

Other Current liabilities, Total

43.6

33.1

59.5

35.3

32.5

Total Current Liabilities

142.6

125.9

110.8

124.7

109.6

 

 

 

 

 

 

    Long Term Debt

-

-

0.4

0.6

0.7

Total Long Term Debt

0.0

0.0

0.4

0.6

0.7

Total Debt

0.0

0.0

0.5

0.7

2.7

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

36.2

6.4

2.1

7.7

8.0

Deferred Income Tax

36.2

6.4

2.1

7.7

8.0

    Pension Benefits - Underfunded

15.2

12.0

12.6

10.0

12.0

    Other Long Term Liabilities

2.6

1.2

1.1

0.3

2.0

Other Liabilities, Total

17.8

13.3

13.7

10.3

14.0

Total Liabilities

196.6

145.5

127.1

143.3

132.3

 

 

 

 

 

 

    Common Stock

113.7

110.8

102.4

137.8

138.7

Common Stock

113.7

110.8

102.4

137.8

138.7

Additional Paid-In Capital

292.9

285.9

264.4

356.0

359.1

Retained Earnings (Accumulated Deficit)

419.4

349.7

267.6

285.1

260.5

Treasury Stock - Common

-10.7

-11.6

-12.0

-16.7

-3.3

Unrealized Gain (Loss)

108.2

-

-

-0.2

-

Total Equity

923.5

734.8

622.4

762.0

755.0

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,120.1

880.3

749.5

905.4

887.4

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

25.4

25.3

25.3

25.2

25.6

Total Common Shares Outstanding

25.4

25.3

25.3

25.2

25.6

Treasury Shares - Common Stock Primary Issue

0.4

0.5

0.5

0.6

0.2

Employees

959

927

886

793

739

Number of Common Shareholders

30,714

28,610

26,179

31,739

-

Deferred Revenue - Current

0.6

0.5

0.3

0.2

0.3

Total Long Term Debt, Supplemental

-

-

0.5

0.7

0.8

Long Term Debt Maturing within 1 Year

-

-

0.0

0.1

0.1

Long Term Debt Maturing in Year 2

-

-

0.0

0.0

0.1

Long Term Debt Maturing in Year 3

-

-

0.0

0.0

0.0

Long Term Debt Maturing in Year 4

-

-

0.0

0.0

0.0

Long Term Debt Maturing in Year 5

-

-

0.1

0.0

0.0

Long Term Debt Maturing in 2-3 Years

-

-

0.1

0.1

0.1

Long Term Debt Maturing in 4-5 Years

-

-

0.1

0.1

0.1

Long Term Debt Matur. in Year 6 & Beyond

-

-

0.3

0.5

0.5

Total Operating Leases, Supplemental

-

-

-

0.2

-

Operating Lease Payments Due in Year 1

-

-

-

0.1

-

Operating Lease Payments Due in Year 2

-

-

-

0.0

-

Operating Lease Payments Due in Year 3

-

-

-

0.0

-

Operating Lease Pymts. Due in 2-3 Years

-

-

-

0.1

-

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

-

-

-

0.0

-

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Reclassified Normal 
31-Dec-2008

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

73.7

67.9

77.5

43.1

33.7

    Depreciation

42.2

35.7

43.7

61.9

65.6

Depreciation/Depletion

42.2

35.7

43.7

61.9

65.6

    Amortization of Intangibles

3.1

2.8

2.9

2.4

2.6

Amortization

3.1

2.8

2.9

2.4

2.6

Deferred Taxes

0.5

1.4

-4.1

-0.6

-0.9

    Unusual Items

-3.3

8.3

4.2

8.0

3.7

    Equity in Net Earnings (Loss)

-10.9

-8.9

-5.8

-11.3

-8.4

    Other Non-Cash Items

7.5

5.5

8.3

8.3

6.4

Non-Cash Items

-6.7

4.9

6.8

5.0

1.7

    Accounts Receivable

-10.8

20.5

-51.8

-18.1

18.7

    Inventories

-30.5

16.4

-59.6

1.0

8.6

    Prepaid Expenses

0.5

-0.7

0.3

0.2

-0.6

    Other Assets

-

-

-

-

0.0

    Accounts Payable

18.3

18.4

-3.2

6.6

-26.7

    Accrued Expenses

-2.3

-2.9

6.7

7.2

-2.4

    Taxes Payable

2.2

-12.9

17.5

2.1

-2.8

    Other Liabilities

-8.5

-3.9

-0.3

-10.2

-4.5

    Other Assets & Liabilities, Net

0.1

0.3

0.3

-

-

    Other Operating Cash Flow

8.2

2.7

5.1

5.0

-

Changes in Working Capital

-22.6

37.9

-85.0

-6.2

-9.7

Cash from Operating Activities

90.2

150.7

41.9

105.6

93.0

 

 

 

 

 

 

    Purchase of Fixed Assets

-61.7

-53.1

-74.1

-49.3

-36.7

    Purchase/Acquisition of Intangibles

-5.3

-7.7

-8.5

-7.6

-9.0

Capital Expenditures

-67.0

-60.9

-82.6

-56.9

-45.7

    Sale of Fixed Assets

2.9

0.9

0.5

0.4

1.6

    Sale/Maturity of Investment

7.4

0.0

82.0

26.0

9.6

    Purchase of Investments

-19.3

-57.0

-0.7

-18.3

-37.6

    Sale of Intangible Assets

1.3

-

-

-

-

    Other Investing Cash Flow

-1.9

-0.7

-0.6

-0.2

0.1

Other Investing Cash Flow Items, Total

-9.6

-56.7

81.2

7.9

-26.3

Cash from Investing Activities

-76.6

-117.6

-1.4

-49.0

-71.9

 

 

 

 

 

 

    Other Financing Cash Flow

-

0.0

-0.1

-0.1

-0.1

Financing Cash Flow Items

-

0.0

-0.1

-0.1

-0.1

Total Cash Dividends Paid

-14.2

-12.9

-13.8

-16.6

-17.4

        Sale/Issuance of Common

0.7

1.2

0.2

-

-

        Repurchase/Retirement of Common

-

-

-

-17.1

-

    Common Stock, Net

0.7

1.2

0.2

-17.1

-

    Options Exercised

-

-

-

2.8

0.9

Issuance (Retirement) of Stock, Net

0.7

1.2

0.2

-14.3

0.9

        Short Term Debt Issued

-

-

-

-

40.5

        Short Term Debt Reduction

-

-

-

-1.8

-41.0

    Short Term Debt, Net

-

-

-

-1.8

-0.6

        Long Term Debt Reduction

-

-0.4

-

-

-

    Long Term Debt, Net

-

-0.4

-

-

-

Issuance (Retirement) of Debt, Net

-

-0.4

-

-1.8

-0.6

Cash from Financing Activities

-13.6

-12.2

-13.6

-32.8

-17.2

 

 

 

 

 

 

Net Change in Cash

0.0

21.0

26.9

23.9

3.9

 

 

 

 

 

 

Net Cash - Beginning Balance

73.9

46.0

26.4

7.4

3.3

Net Cash - Ending Balance

73.9

66.9

53.3

31.3

7.2

 

 

Annual Income Statement

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Finished Products

644.2

555.4

613.1

574.6

491.7

    Merchandise Revenues

333.1

258.1

414.5

318.0

289.3

Total Revenue

977.3

813.5

1,027.6

892.6

781.0

 

 

 

 

 

 

    Cost of Finish Goods

541.5

462.2

485.8

509.1

452.4

    Cost-Merchandise

314.5

227.5

373.2

285.3

259.2

    Salaries

14.8

9.6

10.4

9.6

8.3

    Retirement Allowance

1.5

1.0

1.0

1.4

1.4

    Employee Benefits

2.2

1.6

1.6

1.5

1.5

    Rent

2.0

1.6

1.3

1.2

1.2

    Depreciation Expense

0.6

0.6

0.7

0.8

0.8

    Amort of Intangibles

0.0

0.0

0.0

0.1

0.1

    Taxes & Dues

0.4

0.3

0.4

0.4

0.4

    Travel Expenses

1.0

0.8

1.0

0.8

1.1

    Communication Exp.

0.7

0.5

0.6

0.6

0.6

    Repair Expenses

0.5

0.0

0.1

0.0

0.1

    Insurance Expenses

0.3

0.3

0.3

0.3

0.2

    Marketing Expense

0.9

0.8

0.9

1.0

1.1

    Conference Expenses

0.1

0.1

0.1

0.2

0.2

    Amort. of Bad Debts

0.0

-

0.6

-

0.1

    Advertising Expenses

0.6

0.6

0.6

0.6

0.5

    Shipping/Storage

26.3

24.1

29.2

31.2

26.7

    Commissions Paid

7.7

6.3

7.7

9.9

8.9

    Consumable Expense

0.0

0.1

0.0

0.0

0.0

    Vehicles Expense

0.2

0.1

0.2

0.2

0.2

    Printing Expense

0.1

0.1

0.1

0.1

0.1

    Activity Expenses

0.3

0.2

0.3

0.5

0.5

    Research Expense

7.1

3.2

4.6

5.1

2.0

    Education & Training

1.2

0.8

1.1

1.1

0.6

    Stock Compensation

-

-

-

-

0.0

    Miscellaneous Operating Expense

0.1

0.1

0.1

0.1

0.1

Total Operating Expense

924.8

742.5

922.0

861.2

768.2

 

 

 

 

 

 

    Interest Income

6.7

4.4

7.5

8.3

5.1

    Dividend Income

9.0

5.2

4.5

7.8

16.0

    Rental Income

2.5

1.6

1.0

1.0

0.8

    G-For Curr Transatcn

11.4

12.5

18.2

4.0

6.2

    G-For Exch Translatm

0.5

0.4

1.9

0.7

0.4

    Gain-Valuation of Currency Forwards

-

0.1

0.3

0.3

-

    G-Mkt Secs Valuation

-

-

-

-

0.1

    G-Inv Asset Disposal

3.3

-

-

-

-

    G-Tang Asst Disposal

1.1

0.0

0.4

0.3

0.3

    Gain-Currency Forwards Transactions

3.1

1.5

17.5

0.4

0.2

    Other Non-Op Income

7.9

3.0

1.4

4.8

3.2

    Reversal of Allowance for Doubtful Accou

-

0.3

-

0.0

-

    Interest Expense, Non-Operating

-

0.0

-0.1

-0.1

-0.1

    L-For Curr Transactn

-12.3

-8.2

-49.9

-3.3

-3.3

    L-For Exch Translatn

-0.3

-0.7

-1.8

-1.0

-0.3

    Loss-Other Investment Assets Reduction

-

-

-1.0

-1.5

-

    Donations Paid

-0.9

-0.8

-1.0

-0.6

-1.2

    Loss-Disposal of Investment Assets

-0.1

-

0.0

-

-

    L-Tang Asst Disposal

-0.5

-0.6

-1.0

-1.6

-0.4

    Impairment Losses on Property, Plant and

-

-3.3

-

-

-1.2

    Loss-Disposal of Accounts Receivable

-0.4

-0.5

-0.6

-1.1

-

    Loss-Reduction of Development Expense

-

-4.0

-1.7

-4.5

-2.4

    L-Currency Futr Trad

-3.1

-5.0

-2.7

-0.3

-0.7

    Loss-Valuation of Currency Forwards

-0.1

-0.1

-0.6

-

-

    Other Non-Op Expense

-1.1

-4.5

-3.5

-2.3

-2.1

    Loss under Equity Method

-0.9

-

-

-

-

    Gain under Equity Method

11.8

8.9

5.8

11.3

8.4

Net Income Before Taxes

90.0

81.3

100.1

54.0

41.9

 

 

 

 

 

 

Provision for Income Taxes

16.3

13.4

22.6

10.9

8.3

Net Income After Taxes

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Net Income Before Extra. Items

73.7

67.9

77.5

43.1

33.7

Net Income

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Basic Weighted Average Shares

25.3

25.3

25.3

25.4

25.6

Basic EPS Excluding ExtraOrdinary Items

2.91

2.68

3.07

1.70

1.31

Basic EPS Including ExtraOrdinary Item

2.91

2.68

3.07

1.70

1.31

Dilution Adjustment

0.0

0.0

0.0

-

0.0

Diluted Net Income

73.7

67.9

77.5

43.1

33.7

Diluted Weighted Average Shares

25.4

25.4

25.4

25.5

25.7

Diluted EPS Excluding ExtraOrd Items

2.90

2.67

3.05

1.69

1.31

Diluted EPS Including ExtraOrd Items

2.90

2.67

3.05

1.69

1.31

DPS-Common Stock

0.56

0.51

0.59

0.65

0.63

Gross Dividends - Common Stock

14.3

12.9

14.9

16.3

16.1

Normalized Income Before Taxes

89.8

85.8

101.4

56.4

43.2

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

16.3

14.2

22.9

11.3

8.5

Normalized Income After Taxes

73.5

71.6

78.5

45.0

34.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

73.5

71.6

78.5

45.0

34.7

 

 

 

 

 

 

Basic Normalized EPS

2.90

2.83

3.11

1.78

1.36

Diluted Normalized EPS

2.89

2.82

3.09

1.76

1.35

Interest Expense, Supplemental

-

0.0

0.1

0.1

0.1

Rental Expense, Supplemental

2.0

1.6

1.3

1.2

1.2

Advertising Expense, Supplemental

1.4

1.4

1.5

1.6

1.6

R&D Expense, Supplemental

7.1

3.2

4.6

7.0

3.3

Depreciation, Supplemental

42.2

35.7

43.7

61.9

65.6

Amort of Intangibles, Supplemental

3.1

2.8

2.9

2.4

2.6

 

spacebar

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash/Equivalents

75.3

73.4

46.6

31.1

7.4

    ST Investment Assets

114.6

94.5

31.8

138.9

-

    ST Finl Assets

-

-

-

-

121.5

    Marketable Secs.

-

-

-

-

25.3

    Secs held-Mature

-

-

-

-

0.1

    Trade Rcvb Gross

146.6

134.8

147.1

136.3

119.3

    Doubtful Account

-1.2

-1.1

-1.4

-1.3

-1.3

    Other Rcvbl

4.7

2.9

1.2

3.5

4.7

    Accrued Income

1.6

1.0

1.1

2.3

1.6

    Advance Payments

7.5

8.5

1.4

0.6

0.4

    Prepaid Expenses

4.0

4.3

3.3

4.8

5.1

    Currency Futures, Current Assets

-

0.1

0.3

0.3

-

    Security Deposit

-

-

-

-

0.0

    Deferred Income Taxes Debit

1.9

3.1

0.5

0.6

0.2

    ST Loans, Net

2.5

-

-

-

-

    Merchandise

1.5

2.3

3.7

7.3

12.2

    Finished Goods

39.9

36.1

51.2

25.3

32.8

    Allowance for Loss on Valuation of Finis

-3.4

-1.2

-

-

-

    Semifinished Goods

41.5

33.6

28.5

21.5

18.0

    Allowance for Loss on Valuation of Semif

-6.0

-3.8

-

-

-

    Raw Materials

30.4

19.1

23.0

28.5

20.5

    Stored Goods

11.0

10.9

9.8

13.4

12.1

    Goods in Transit

34.4

17.5

13.0

10.4

12.7

Total Current Assets

506.8

436.0

360.8

423.6

392.7

 

 

 

 

 

 

    LT Finl Assets

0.0

0.0

0.0

0.0

0.0

    Secs Avail-Sale

-

-

-

-

99.0

    Secs Held-Mature

-

-

-

-

0.1

    LT Employee Loan

-

-

-

-

0.1

    LT Guarantee Dep

2.8

2.6

1.6

1.5

1.2

    Other LT Assets

6.8

5.8

4.7

6.2

6.7

    LT Invest Secs.

220.5

79.7

73.5

98.5

-

    Other Investment Assets

-

4.7

4.4

2.9

-

    Equity Method Investment Securities

43.4

39.1

28.6

37.4

31.6

    Land

19.7

19.2

14.5

19.5

19.6

    Buildings

111.5

91.2

79.2

101.0

98.2

    Buildings Depre.

-27.6

-24.3

-20.4

-25.1

-22.8

    Buildings Reduction

-

-

-

-0.1

-0.1

    Structures

79.9

75.2

68.5

91.0

90.8

    Structure Depre.

-45.1

-40.6

-34.5

-42.6

-39.1

    Structure Reduction

-

-

-

-0.1

-0.1

    Machinery/Equip.

671.6

600.8

521.6

720.4

695.8

    Mach/Equip Depre

-530.1

-488.7

-427.9

-574.7

-536.1

    Accumulated Impairment Losses for Machin

-

-3.3

-

-1.0

-1.0

    Transport Equip.

3.5

3.2

2.6

3.4

3.2

    Transport Deprec

-2.4

-2.3

-1.8

-2.4

-2.2

    Accumulated Impairment Losses for Vehicl

-

-0.1

-

-

-

    Tools/Equipments

18.9

17.2

14.4

19.8

19.0

    Tool/Equip Depr.

-13.5

-13.3

-10.8

-14.4

-13.7

    Accumulated Impairment Losses for Tools

-

-0.3

-

0.0

0.0

    Fixtures

18.7

17.5

13.5

17.4

18.3

    Deprec. Fixtures

-14.5

-13.0

-10.4

-12.5

-12.2

    Accumulated Impairment Losses for Office

-

-0.1

-

-

-

    Construc in Prog

25.5

51.9

47.1

13.0

15.8

    Indust.-Patent

0.3

0.3

0.2

0.2

0.6

    Water Use Rights

-

-

-

0.0

0.0

    Development Costs

23.7

22.2

20.1

22.4

21.9

    Government Subsidy for Development Costs

-0.2

-0.2

-

-

-

Total Assets

1,120.1

880.3

749.5

905.4

887.4

 

 

 

 

 

 

    Trade Payable

86.7

77.3

33.9

72.7

67.3

    ST Borrowings

-

-

-

-

1.8

    Accounts Payable

30.2

18.8

36.3

27.1

25.8

    Advances Receivd

0.6

0.5

0.3

0.1

0.2

    Unearned Income

0.1

0.1

0.0

0.1

0.0

    Deposit Withheld

2.0

5.5

1.8

0.9

0.9

    Security Deposit Withheld

0.0

0.1

0.1

0.1

0.5

    Accrued Expenses

12.3

15.5

17.3

16.6

7.9

    Inc. Taxes Pay.

10.5

8.0

20.5

6.9

4.9

    Current LT Liab.

-

-

0.0

0.1

0.1

    Dividend Payable

0.1

0.1

0.1

0.1

0.1

    Currency Futures, Current

0.1

0.1

0.5

-

-

Total Current Liabilities

142.6

125.9

110.8

124.7

109.6

 

 

 

 

 

 

    LT Borrowings

-

-

0.4

0.6

0.7

Total Long Term Debt

-

-

0.4

0.6

0.7

 

 

 

 

 

 

    LT Accrued Expense

2.6

1.2

1.1

0.3

2.0

    Provisions for Retirement and Severance

34.5

32.0

12.6

10.0

12.0

    Deposits for Retirement and Severance Be

-19.2

-19.9

-

-

-

    Transfer to National Pension Fund

-0.1

-0.1

-

-

-

    Deferred Tax-Cr

36.2

6.4

2.1

7.7

8.0

Total Liabilities

196.6

145.5

127.1

143.3

132.3

 

 

 

 

 

 

    Common Stock

113.7

110.8

102.4

137.8

138.7

    Paid-in Capital

266.9

260.1

240.5

323.6

325.7

    Othr Cap Surplus

25.1

24.6

22.5

30.4

30.1

    Voluntary Reserve

326.5

259.0

186.3

225.6

-

    Legal Reserve

17.8

15.9

13.4

16.4

14.9

    Busines Rational

-

-

-

-

30.8

    Finance Reserve

-

-

-

-

0.6

    Tech Devel Reser

-

-

-

-

61.9

    Reserve-Loss on Treasury Stock Disposal

-

-

-

-

1.7

    Rsv-Investments

-

-

-

-

89.3

    Rsv-Dividends

-

-

-

-

1.9

    Unapprop Earning

-

-

-

-

24.7

    Reserve-Voluntar

75.1

74.8

67.9

43.1

34.8

    Treasury Stock

-10.7

-11.6

-12.0

-16.7

-3.3

    Capital Change, Equity Method (Loss)

-

-

-

-0.2

-

    Gains on Valuation of Available for Sale

108.2

-

-

-

-

    Gains on Valuation of Equity Method Secu

0.0

-

-

-

-

    Stock Options

0.9

1.1

1.4

2.0

3.3

    Loss on Treasury Stock Disposal

-

-

-

-

-0.1

Total Equity

923.5

734.8

622.4

762.0

755.0

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

1,120.1

880.3

749.5

905.4

887.4

 

 

 

 

 

 

    S/O-Common Stock

25.4

25.3

25.3

25.2

25.6

Total Common Shares Outstanding

25.4

25.3

25.3

25.2

25.6

T/S-Common Stock

0.4

0.5

0.5

0.6

0.2

Deferred Revenue, Current

0.6

0.5

0.3

0.2

0.3

Full-Time Employees

959

927

886

793

739

Number of Common Shareholders

30,714

28,610

26,179

31,739

-

Long Term Debt Maturing within 1 Year

-

-

0.0

0.1

0.1

Long Term Debt Maturing within 2 Years

-

-

0.0

0.0

0.1

Long Term Debt Maturing within 3 Years

-

-

0.0

0.0

0.0

Long Term Debt Maturing within 4 Years

-

-

0.0

0.0

0.0

Long Term Debt Maturing within 5 Years

-

-

0.1

0.0

0.0

Long Term Debt Remaining Maturities

-

-

0.3

0.5

0.5

Total Long Term Debt, Supplemental

-

-

0.5

0.7

0.8

Operating Leases Due in Year 1

-

-

-

0.1

-

Operating Leases Due in Year 2

-

-

-

0.0

-

Operating Leases Due in Year 3

-

-

-

0.0

-

Total Operating Leases

-

-

-

0.2

-

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Reclassified Normal 
31-Dec-2008

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

73.7

67.9

77.5

43.1

33.7

    Depreciation

42.2

35.7

43.7

61.9

65.6

    Amort. Intangible

3.1

2.8

2.9

2.4

2.6

    Stock Compensation

-

-

-

-

0.0

    Retirement Allowance

7.7

5.5

7.7

7.7

6.4

    Amort-Bad Debt Exp.

0.0

-

0.6

-

0.1

    L-For Exch Translatn

0.3

0.7

1.8

1.0

0.3

    Valuation of Equity

0.9

-

-

-

-

    Loss-Investment Assets Disposal

0.1

-

0.0

-

-

    L-Tangible Asst Disp

0.5

0.6

1.0

1.6

0.4

    Impairment Losses on Property, Plant and

-

3.3

-

-

1.2

    Loss-Disposal of Trade Receivable

0.4

0.5

0.6

1.1

-

    Loss-Other Investment Assets Reduction

-

-

1.0

1.5

-

    L-Dev't Cost Valuatn

-

4.0

1.7

4.5

2.4

    Loss-Valuation of Currency Futures

0.1

0.1

0.6

-

-

    Taxes Related to Shareholders' Equity

-

-

-

-

0.0

    Miscellaneous Loss

0.0

0.1

0.1

0.4

-

    G-For Exch Translatn

-0.5

-0.4

-1.9

-0.7

-0.4

    G-Mkt Secs Valuation

-

-

-

-

-0.1

    Corporate Taxes

-

-

-

-0.2

-

    G-Equity Method Val.

-11.8

-8.9

-5.8

-11.3

-8.4

    G-Tangible Asst Disp

-1.1

0.0

-0.4

-0.3

-0.3

    G-Inv Asset Disposal

-3.3

-

-

-

-

    Gain-Valuation of Currency Futures

-

-0.1

-0.3

-0.3

-

    Reversal of Allowance for Doubtful Accou

-

-0.3

-

0.0

-

    Trade Receivables

-8.6

21.1

-54.2

-18.5

20.6

    Account Receivables

-1.6

-0.7

1.6

1.2

-1.2

    Accrued Income

-0.5

0.1

0.8

-0.8

-0.6

    Advance Payments

1.1

-6.4

-1.1

-0.2

2.5

    Prepaid Expenses

0.5

-0.7

0.3

0.2

-0.6

    Security Deposits

-

-

-

-

0.0

    Inventories

-31.7

22.8

-58.5

1.2

6.1

    Trade Payables

7.6

37.1

-21.7

5.1

-20.2

    Account Payables

10.7

-18.7

18.5

1.5

-6.5

    Advances Received

0.1

0.2

0.2

-0.1

-0.1

    Increase or Decrease in Unearned Income

-

0.0

-

0.0

0.0

    Currency Future Asset

-

-

-

-

0.0

    Currency Forwards Liabilities

-0.1

-0.5

-

-

0.0

    Deposits Withheld

-3.6

3.3

1.3

0.0

0.1

    Security Deposits

-0.1

0.0

0.0

-0.4

0.1

    Accrued Expenses

-3.6

-3.8

5.7

6.2

-3.5

    LT Accrued Expenses

1.3

0.9

1.0

1.0

1.0

    Currency Forwards, A/L

0.1

0.3

0.3

-

-

    Dividend Received from Affiliates

8.2

2.7

5.1

5.0

-

    Accrued Inc Tax

2.2

-12.9

17.5

2.1

-2.8

    Increase-Reserve for Severance & Retirem

-

-

-

0.7

-

    Payment of Retirement Bonus

-6.3

-4.1

-2.4

-4.1

-2.0

    Nation Pension Fund

0.0

0.0

0.0

0.0

0.0

    Retirement Insurance

1.2

-2.8

0.6

-6.3

-2.6

    Deferred Income Tax Credit, A/L

-0.7

3.7

-4.1

-0.2

-0.7

    Deferred Income Tax Debit

1.2

-2.3

0.0

-0.4

-0.2

    Succession to Provision for Retirement a

0.2

-

-

-

-

Cash from Operating Activities

90.2

150.7

41.9

105.6

93.0

 

 

 

 

 

 

    Disposal-ST Marketable Securities

-

-

-

25.3

-

    Dec-Dividends

-

-

-

-

9.6

    Dec-Secs held-Mature

-

0.0

0.0

0.1

0.0

    Dec-Employ LT Ln.

-

-

-

-

0.0

    Dec-Guarantee Dep

0.4

0.0

0.0

0.0

0.4

    Decrease-ST Financial Assets

0.0

-

81.8

-

-

    Dec. Other Inv Asset

7.4

-

0.2

0.5

0.0

    Disposal-Land

-

-

-

0.1

-

    Disposal of Building

-

-

-

-

0.5

    Disposal Structure

-

-

0.0

0.0

0.0

    Disposal Machinery

2.3

0.9

0.3

0.3

0.4

    Disp-Vehicles

0.1

0.0

0.1

0.0

0.1

    Disp Tools/Equipment

0.4

0.0

0.1

0.0

0.5

    Increase-Government Subsidy

0.0

0.0

0.0

0.1

-

    Proceeds from Development Costs

1.3

-

-

-

-

    Disp-Fixtures

0.0

0.0

0.0

0.0

0.0

    Decrease-Other Non-Current Assets

0.7

-

-

-

-

    Purchase of Short-term Financial Instrum

-17.3

-54.9

-

-18.3

-27.0

    Inc-ST Mkt. secs Sale

-

-

-

-

-10.4

    Inc-Secs held- Matur

-0.1

-0.1

0.0

0.0

0.0

    Increase-Investment Securities

-

-

-0.4

-

-

    Purchase of Equity Method Securities

-0.5

-1.3

-

-

-

    Inc-Employ LT Ln.

-

-

-

-

-0.1

    Inc in Guarant Depos

-0.5

-0.8

-0.6

-0.2

-0.2

    Inc Other Invt Ast

-1.4

-0.7

-0.2

-

-0.1

    Acq. Const. In Prog

-61.7

-53.1

-74.1

-49.3

-36.7

    Inc. in Develop.Cost

-5.3

-7.7

-8.5

-7.6

-9.0

    Increase in ST Loans

-2.5

-

-

-

-

Cash from Investing Activities

-76.6

-117.6

-1.4

-49.0

-71.9

 

 

 

 

 

 

    Inc in ST Borrowings

-

-

-

-

40.5

    Exercise-Stock Options

-

-

-

2.8

0.9

    Disposal-Treasury Stock

0.7

1.2

0.2

-

-

    Dec of ST Borrowings

-

-

-

-1.8

-41.0

    Dec-Curr LT Liabs

-

0.0

-0.1

-0.1

-0.1

    Repayments of Long-term Borrowings

-

-0.4

-

-

-

    Acquisition-Treasury Stock

-

-

-

-17.1

-

    Dividends Paid

-14.2

-12.9

-13.8

-16.6

-17.4

Cash from Financing Activities

-13.6

-12.2

-13.6

-32.8

-17.2

 

 

 

 

 

 

Net Change in Cash

0.0

21.0

26.9

23.9

3.9

 

 

 

 

 

 

Net Cash - Beginning Balance

73.9

46.0

26.4

7.4

3.3

Net Cash - Ending Balance

73.9

66.9

53.3

31.3

7.2

 

Financial Health

 

Financials in: USD (mil) 

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

Key Indicators USD (mil)

 

Quarter
Ending
30-Jun-2011

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2010

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

322.2

18.11%

977.3

8.82%

10.86%

7.39%

Research & Development1

-

-

7.1

98.64%

20.09%

27.51%

Operating Income1

28.5

-7.86%

52.5

-33.08%

27.72%

8.02%

Income Available to Common Excl Extraord Items1

23.9

-13.16%

73.7

-1.73%

28.56%

11.12%

Basic EPS Excl Extraord Items1

0.94

-13.44%

2.91

-1.92%

28.61%

11.28%

Capital Expenditures2

94.1

183.22%

67.0

-0.24%

13.58%

3.71%

Cash from Operating Activities2

58.2

-10.98%

90.2

-45.78%

2.04%

-2.45%

Free Cash Flow

-37.1

-

23.6

-76.63%

-16.03%

-12.91%

Total Assets3

1,237.6

19.24%

1,120.1

24.00%

14.47%

8.67%

Total Liabilities3

238.1

30.25%

196.6

31.67%

18.47%

7.82%

Total Long Term Debt3

0.0

-

0.0

-

-

-

Employees3

-

-

959

3.45%

6.54%

5.35%

Total Common Shares Outstanding3

25.4

0.30%

25.4

0.19%

0.16%

-0.14%

1-ExchangeRate: KRW to USD Average for Period

1083.436022

 

1156.281981

 

 

 

2-ExchangeRate: KRW to USD Average for Period

1101.856011

 

1156.281981

 

 

 

3-ExchangeRate: KRW to USD Period End Date

1067.650000

 

1134.900000

 

 

 

Key Ratios

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Profitability

Gross Margin

12.41%

15.22%

16.40%

11.00%

8.89%

Operating Margin

5.37%

8.74%

10.27%

3.51%

1.64%

Pretax Margin

9.21%

10.00%

9.74%

6.05%

5.37%

Net Profit Margin

7.54%

8.35%

7.54%

4.83%

4.31%

Financial Strength

Current Ratio

3.56

3.46

3.26

3.40

3.58

Long Term Debt/Equity

0.00

0.00

0.00

0.00

0.00

Total Debt/Equity

0.00

0.00

0.00

0.00

0.00

Management Effectiveness

Return on Assets

7.42%

8.80%

9.52%

4.79%

3.86%

Return on Equity

8.95%

10.57%

11.39%

5.66%

4.63%

Efficiency

Receivables Turnover

6.74

5.99

7.11

6.70

5.99

Inventory Turnover

6.16

5.72

7.15

7.34

6.46

Asset Turnover

0.98

1.05

1.26

0.99

0.90

Market Valuation USD (mil)

P/E (TTM)

16.52

.

Enterprise Value2

1,237.1

Price/Sales (TTM)

1.17

.

Enterprise Value/Revenue (TTM)

1.08

Price/Book (MRQ)

1.33

.

Enterprise Value/EBITDA (TTM)

10.76

Market Cap as of 28-Oct-20111

1,300.4

.

 

 

1-ExchangeRate: KRW to USD on 28-Oct-2011

1105.050000

 

 

 

2-ExchangeRate: KRW to USD on 30-Jun-2011

1067.650000

 

 

 

 

 

 

Annual Ratios

 

Financials in: USD (mil) 

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

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Financial Strength

Current Ratio

3.56

3.46

3.26

3.40

3.58

Quick/Acid Test Ratio

2.41

2.43

2.04

2.49

2.54

Working Capital1

364.3

310.1

250.0

298.9

283.1

Long Term Debt/Equity

0.00

0.00

0.00

0.00

0.00

Total Debt/Equity

0.00

0.00

0.00

0.00

0.00

Long Term Debt/Total Capital

0.00

0.00

0.00

0.00

0.00

Total Debt/Total Capital

0.00

0.00

0.00

0.00

0.00

Payout Ratio

19.34%

18.97%

19.24%

37.98%

47.80%

Effective Tax Rate

18.13%

16.50%

22.57%

20.12%

19.72%

Total Capital1

923.5

734.8

622.8

762.7

757.7

 

 

 

 

 

 

Efficiency

Asset Turnover

0.98

1.05

1.26

0.99

0.90

Inventory Turnover

6.16

5.72

7.15

7.34

6.46

Days In Inventory

59.23

63.76

51.06

49.75

56.49

Receivables Turnover

6.74

5.99

7.11

6.70

5.99

Days Receivables Outstanding

54.16

60.91

51.34

54.46

60.98

Revenue/Employee2

1,038,280

961,951

1,013,377

1,117,289

1,085,256

Operating Income/Employee2

55,780

84,036

104,118

39,255

17,784

EBITDA/Employee2

103,888

129,595

150,147

119,836

112,569

 

 

 

 

 

 

Profitability

Gross Margin

12.41%

15.22%

16.40%

11.00%

8.89%

Operating Margin

5.37%

8.74%

10.27%

3.51%

1.64%

EBITDA Margin

10.01%

13.47%

14.82%

10.73%

10.37%

EBIT Margin

5.37%

8.74%

10.27%

3.51%

1.64%

Pretax Margin

9.21%

10.00%

9.74%

6.05%

5.37%

Net Profit Margin

7.54%

8.35%

7.54%

4.83%

4.31%

R&D Expense/Revenue

0.72%

0.40%

0.44%

0.57%

0.26%

COGS/Revenue

87.59%

84.78%

83.60%

89.00%

91.11%

SG&A Expense/Revenue

6.23%

6.00%

5.61%

6.80%

6.86%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

7.42%

8.80%

9.52%

4.79%

3.86%

Return on Equity

8.95%

10.57%

11.39%

5.66%

4.63%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

0.93

3.89

-1.41

1.92

1.90

Operating Cash Flow/Share 2

3.62

6.52

1.45

4.15

3.73

1-ExchangeRate: KRW to USD Period End Date

1134.9

1164.475

1259.55

936.05

930

2-ExchangeRate: KRW to USD Average for Period

1134.9

1164.475

1259.55

936.05

930

 

Current Market Multiples

Market Cap/Earnings (TTM)

16.76

Market Cap/Equity (MRQ)

1.35

Market Cap/Revenue (TTM)

1.17

Market Cap/EBIT (TTM)

21.96

Market Cap/EBITDA (TTM)

11.71

Enterprise Value/Earnings (TTM)

15.40

Enterprise Value/Equity (MRQ)

1.24

Enterprise Value/Revenue (TTM)

1.08

Enterprise Value/EBIT (TTM)

20.18

Enterprise Value/EBITDA (TTM)

10.76

 

 

Annual Income Statement

Standardized

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Net Sales

977.3

813.5

1,027.6

892.6

781.0

Revenue

977.3

813.5

1,027.6

892.6

781.0

Total Revenue

977.3

813.5

1,027.6

892.6

781.0

 

 

 

 

 

 

    Cost of Revenue

856.1

689.7

859.0

794.4

711.6

Cost of Revenue, Total

856.1

689.7

859.0

794.4

711.6

Gross Profit

121.2

123.8

168.5

98.2

69.4

 

 

 

 

 

 

    Selling/General/Administrative Expense

41.0

35.2

43.2

46.6

40.8

    Labor & Related Expense

18.5

12.2

13.0

12.5

11.2

    Advertising Expense

1.4

1.4

1.5

1.6

1.6

Total Selling/General/Administrative Expenses

60.9

48.8

57.6

60.7

53.6

Research & Development

7.1

3.2

4.6

5.1

2.0

    Depreciation

0.6

0.6

0.7

0.8

0.8

    Amortization of Intangibles

0.0

0.0

0.0

0.1

0.1

Depreciation/Amortization

0.7

0.6

0.7

0.9

0.9

    Other Operating Expense

0.1

0.1

0.1

0.1

0.1

Other Operating Expenses, Total

0.1

0.1

0.1

0.1

0.1

Total Operating Expense

924.8

742.5

922.0

861.2

768.2

 

 

 

 

 

 

Operating Income

52.5

71.1

105.6

31.4

12.8

 

 

 

 

 

 

        Interest Expense - Non-Operating

-

0.0

-0.1

-0.1

-0.1

    Interest Expense, Net Non-Operating

-

0.0

-0.1

-0.1

-0.1

        Interest Income - Non-Operating

6.7

4.4

7.5

8.3

5.1

        Investment Income - Non-Operating

22.2

10.7

-9.5

13.9

24.7

    Interest/Investment Income - Non-Operating

29.0

15.2

-2.0

22.3

29.8

Interest Income (Expense) - Net Non-Operating Total

29.0

15.2

-2.1

22.1

29.6

Gain (Loss) on Sale of Assets

0.2

-4.4

-1.3

-2.4

-1.3

    Other Non-Operating Income (Expense)

8.3

-0.5

-2.1

2.9

0.8

Other, Net

8.3

-0.5

-2.1

2.9

0.8

Income Before Tax

90.0

81.3

100.1

54.0

41.9

 

 

 

 

 

 

Total Income Tax

16.3

13.4

22.6

10.9

8.3

Income After Tax

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Net Income Before Extraord Items

73.7

67.9

77.5

43.1

33.7

Net Income

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

73.7

67.9

77.5

43.1

33.7

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

25.3

25.3

25.3

25.4

25.6

Basic EPS Excl Extraord Items

2.91

2.68

3.07

1.70

1.31

Basic/Primary EPS Incl Extraord Items

2.91

2.68

3.07

1.70

1.31

Dilution Adjustment

0.0

0.0

0.0

-

0.0

Diluted Net Income

73.7

67.9

77.5

43.1

33.7

Diluted Weighted Average Shares

25.4

25.4

25.4

25.5

25.7

Diluted EPS Excl Extraord Items

2.90

2.67

3.05

1.69

1.31

Diluted EPS Incl Extraord Items

2.90

2.67

3.05

1.69

1.31

Dividends per Share - Common Stock Primary Issue

0.56

0.51

0.59

0.65

0.63

Gross Dividends - Common Stock

14.3

12.9

14.9

16.3

16.1

Interest Expense, Supplemental

-

0.0

0.1

0.1

0.1

Depreciation, Supplemental

42.2

35.7

43.7

61.9

65.6

Total Special Items

-0.2

4.4

1.3

2.4

1.3

Normalized Income Before Tax

89.8

85.8

101.4

56.4

43.2

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

0.7

0.3

0.5

0.3

Inc Tax Ex Impact of Sp Items

16.3

14.2

22.9

11.3

8.5

Normalized Income After Tax

73.5

71.6

78.5

45.0

34.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

73.5

71.6

78.5

45.0

34.7

 

 

 

 

 

 

Basic Normalized EPS

2.90

2.83

3.11

1.78

1.36

Diluted Normalized EPS

2.89

2.82

3.09

1.76

1.35

Amort of Intangibles, Supplemental

3.1

2.8

2.9

2.4

2.6

Rental Expenses

2.0

1.6

1.3

1.2

1.2

Advertising Expense, Supplemental

1.4

1.4

1.5

1.6

1.6

Research & Development Exp, Supplemental

7.1

3.2

4.6

7.0

3.3

Normalized EBIT

52.5

71.1

105.6

31.4

12.8

Normalized EBITDA

97.8

109.6

152.2

95.7

81.0

 

 

 

Interim Income Statement

Standardized

 

Financials in: USD (mil) 

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

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Restated Normal 
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1083.436022

1120.28956

1132.465591

1183.132366

1164.000484

 

 

 

 

 

 

    Net Sales

322.2

277.5

257.5

232.0

253.9

Revenue

322.2

277.5

257.5

232.0

253.9

Total Revenue

322.2

277.5

257.5

232.0

253.9

 

 

 

 

 

 

    Cost of Revenue

277.6

253.7

224.6

204.3

219.2

Cost of Revenue, Total

277.6

253.7

224.6

204.3

219.2

Gross Profit

44.6

23.9

32.9

27.7

34.7

 

 

 

 

 

 

    Selling/General/Administrative Expense

19.1

10.7

11.2

9.1

16.2

    Labor & Related Expense

-

4.5

5.2

5.4

-

    Advertising Expense

-

-

0.4

0.4

-

Total Selling/General/Administrative Expenses

19.1

15.2

16.9

14.9

16.2

Research & Development

-

3.5

2.3

2.2

-

    Depreciation

-

0.1

0.2

0.2

-

    Amortization of Intangibles

-

0.0

0.0

0.0

-

Depreciation/Amortization

-

0.2

0.2

0.2

-

        Investment Income - Operating

-

-15.5

-

-

-

    Interest/Investment Income - Operating

-

-15.5

-

-

-

Interest Expense (Income) - Net Operating Total

-

-15.5

-

-

-

    Loss (Gain) on Sale of Assets - Operating

-

0.0

-

-

-

Unusual Expense (Income)

-

0.0

-

-

-

    Other Operating Expense

4.0

0.1

-

-

7.4

    Other, Net

-6.9

-1.3

-

-

-17.7

Other Operating Expenses, Total

-2.9

-1.2

-

-

-10.3

Total Operating Expense

293.7

255.8

244.0

221.5

225.2

 

 

 

 

 

 

Operating Income

28.5

21.7

13.5

10.5

28.7

 

 

 

 

 

 

        Interest Expense - Non-Operating

-

-0.1

0.0

0.0

-

    Interest Expense, Net Non-Operating

-

-0.1

0.0

0.0

-

        Interest Income - Non-Operating

-

1.4

1.9

1.8

-

        Investment Income - Non-Operating

0.8

0.1

2.0

7.2

1.2

    Interest/Investment Income - Non-Operating

0.8

1.5

3.8

9.0

1.2

Interest Income (Expense) - Net Non-Operating Total

0.8

1.4

3.8

9.0

1.2

Gain (Loss) on Sale of Assets

-

-

-0.6

-0.1

-

    Other Non-Operating Income (Expense)

-

0.0

0.4

1.7

-

Other, Net

-

0.0

0.4

1.7

-

Income Before Tax

29.2

23.1

17.1

21.0

29.9

 

 

 

 

 

 

Total Income Tax

5.3

2.5

2.4

4.1

4.3

Income After Tax

23.9

20.6

14.7

17.0

25.6

 

 

 

 

 

 

Net Income Before Extraord Items

23.9

20.6

14.7

17.0

25.6

Net Income

23.9

20.6

14.7

17.0

25.6

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

23.9

20.6

14.7

17.0

25.6

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

23.9

20.6

14.7

17.0

25.6

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

25.4

25.4

25.4

25.4

25.3

Basic EPS Excl Extraord Items

0.94

0.81

0.58

0.67

1.01

Basic/Primary EPS Incl Extraord Items

0.94

0.81

0.58

0.67

1.01

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

23.9

20.6

14.7

17.0

25.6

Diluted Weighted Average Shares

25.5

25.4

25.4

25.4

25.4

Diluted EPS Excl Extraord Items

0.94

0.81

0.58

0.67

1.01

Diluted EPS Incl Extraord Items

0.94

0.81

0.58

0.67

1.01

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.57

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

14.6

0.0

0.0

Interest Expense, Supplemental

0.1

0.1

0.0

0.0

0.1

Depreciation, Supplemental

12.6

11.2

11.2

10.5

10.4

Total Special Items

-

0.0

0.6

0.1

-

Normalized Income Before Tax

29.2

23.1

17.7

21.1

29.9

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-

0.0

0.1

0.0

-

Inc Tax Ex Impact of Sp Items

5.3

2.5

2.5

4.1

4.3

Normalized Income After Tax

23.9

20.6

15.2

17.0

25.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

23.9

20.6

15.2

17.0

25.6

 

 

 

 

 

 

Basic Normalized EPS

0.94

0.81

0.60

0.67

1.01

Diluted Normalized EPS

0.94

0.81

0.60

0.67

1.01

Amort of Intangibles, Supplemental

2.6

1.1

0.8

0.8

0.9

Rental Expenses

0.6

0.6

0.5

0.5

0.5

Advertising Expense, Supplemental

-

-

0.4

0.4

-

Research & Development Exp, Supplemental

3.6

3.5

2.3

2.2

1.4

Normalized EBIT

28.5

6.2

13.5

10.5

28.7

Normalized EBITDA

43.6

18.5

25.6

21.8

40.0

 

Annual Balance Sheet

Standardized

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Ahnjin Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified with Explanation

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

75.3

73.4

46.6

31.1

7.4

    Short Term Investments

114.6

94.5

31.8

138.9

146.9

Cash and Short Term Investments

189.9

167.9

78.3

170.0

154.4

        Accounts Receivable - Trade, Gross

146.6

134.8

147.1

136.3

119.3

        Provision for Doubtful Accounts

-1.2

-1.1

-1.4

-1.3

-1.3

    Trade Accounts Receivable - Net

147.0

134.8

146.7

137.4

119.6

    Other Receivables

7.2

2.9

1.2

3.5

4.7

Total Receivables, Net

154.2

137.7

147.9

140.9

124.3

    Inventories - Finished Goods

72.4

54.7

67.9

43.0

57.7

    Inventories - Work In Progress

35.5

29.8

28.5

21.5

18.0

    Inventories - Raw Materials

30.4

19.1

23.0

28.5

20.5

    Inventories - Other

18.5

19.3

11.1

14.0

12.5

Total Inventory

156.9

123.0

130.5

107.0

108.7

Prepaid Expenses

4.0

4.3

3.3

4.8

5.1

    Deferred Income Tax - Current Asset

1.9

3.1

0.5

0.6

0.2

    Other Current Assets

-

0.1

0.3

0.3

0.0

Other Current Assets, Total

1.9

3.2

0.8

0.9

0.2

Total Current Assets

506.8

436.0

360.8

423.6

392.7

 

 

 

 

 

 

        Buildings

191.5

166.4

147.7

191.8

188.8

        Land/Improvements

19.7

19.2

14.5

19.5

19.6

        Machinery/Equipment

712.7

635.0

552.1

760.0

735.3

        Construction in Progress

25.5

51.9

47.1

13.0

15.8

    Property/Plant/Equipment - Gross

949.3

872.4

761.4

984.2

959.5

    Accumulated Depreciation

-633.4

-582.2

-505.8

-671.7

-626.2

Property/Plant/Equipment - Net

315.9

290.2

255.5

312.6

333.4

Intangibles, Net

23.8

22.2

20.3

22.7

22.5

    LT Investment - Affiliate Companies

43.4

39.1

28.6

37.4

31.6

    LT Investments - Other

220.5

84.4

78.0

101.4

99.2

Long Term Investments

263.9

123.5

106.6

138.8

130.8

Note Receivable - Long Term

-

-

-

-

0.1

    Other Long Term Assets

9.6

8.3

6.3

7.7

7.9

Other Long Term Assets, Total

9.6

8.3

6.3

7.7

7.9

Total Assets

1,120.1

880.3

749.5

905.4

887.4

 

 

 

 

 

 

Accounts Payable

86.7

77.3

33.9

72.7

67.3

Accrued Expenses

12.3

15.5

17.3

16.6

7.9

Notes Payable/Short Term Debt

0.0

0.0

0.0

0.0

1.8

Current Portion - Long Term Debt/Capital Leases

-

-

0.0

0.1

0.1

    Dividends Payable

0.1

0.1

0.1

0.1

0.1

    Customer Advances

0.6

0.5

0.3

0.2

0.3

    Security Deposits

0.0

0.1

0.1

0.1

0.5

    Income Taxes Payable

10.5

8.0

20.5

6.9

4.9

    Other Payables

30.2

18.8

36.3

27.1

25.8

    Other Current Liabilities

2.1

5.6

2.3

0.9

0.9

Other Current liabilities, Total

43.6

33.1

59.5

35.3

32.5

Total Current Liabilities

142.6

125.9

110.8

124.7

109.6

 

 

 

 

 

 

    Long Term Debt

-

-

0.4

0.6

0.7

Total Long Term Debt

0.0

0.0

0.4

0.6

0.7

Total Debt

0.0

0.0

0.5

0.7

2.7

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

36.2

6.4

2.1

7.7

8.0

Deferred Income Tax

36.2

6.4

2.1

7.7

8.0

    Pension Benefits - Underfunded

15.2

12.0

12.6

10.0

12.0

    Other Long Term Liabilities

2.6

1.2

1.1

0.3

2.0

Other Liabilities, Total

17.8

13.3

13.7

10.3

14.0

Total Liabilities

196.6

145.5

127.1

143.3

132.3

 

 

 

 

 

 

    Common Stock

113.7

110.8

102.4

137.8

138.7

Common Stock

113.7

110.8

102.4

137.8

138.7

Additional Paid-In Capital

292.9

285.9

264.4

356.0

359.1

Retained Earnings (Accumulated Deficit)

419.4

349.7

267.6

285.1

260.5

Treasury Stock - Common

-10.7

-11.6

-12.0

-16.7

-3.3

Unrealized Gain (Loss)

108.2

-

-

-0.2

-

Total Equity

923.5

734.8

622.4

762.0

755.0

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,120.1

880.3

749.5

905.4

887.4

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

25.4

25.3

25.3

25.2

25.6

Total Common Shares Outstanding

25.4

25.3

25.3

25.2

25.6

Treasury Shares - Common Stock Primary Issue

0.4

0.5

0.5

0.6

0.2

Employees

959

927

886

793

739

Number of Common Shareholders

30,714

28,610

26,179

31,739

-

Deferred Revenue - Current

0.6

0.5

0.3

0.2

0.3

Total Long Term Debt, Supplemental

-

-

0.5

0.7

0.8

Long Term Debt Maturing within 1 Year

-

-

0.0

0.1

0.1

Long Term Debt Maturing in Year 2

-

-

0.0

0.0

0.1

Long Term Debt Maturing in Year 3

-

-

0.0

0.0

0.0

Long Term Debt Maturing in Year 4

-

-

0.0

0.0

0.0

Long Term Debt Maturing in Year 5

-

-

0.1

0.0

0.0

Long Term Debt Maturing in 2-3 Years

-

-

0.1

0.1

0.1

Long Term Debt Maturing in 4-5 Years

-

-

0.1

0.1

0.1

Long Term Debt Matur. in Year 6 & Beyond

-

-

0.3

0.5

0.5

Total Operating Leases, Supplemental

-

-

-

0.2

-

Operating Lease Payments Due in Year 1

-

-

-

0.1

-

Operating Lease Payments Due in Year 2

-

-

-

0.0

-

Operating Lease Payments Due in Year 3

-

-

-

0.0

-

Operating Lease Pymts. Due in 2-3 Years

-

-

-

0.1

-

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

-

-

-

0.0

-

 

 

 

Interim Balance Sheet

Standardized

 

Financials in: USD (mil) 

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

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

UpdateType/Date

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Restated Normal 
31-Mar-2011

Updated Normal 
30-Sep-2010

Updated Normal 
30-Jun-2010

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1067.65

1096.95

1134.9

1140.25

1221.965

 

 

 

 

 

 

    Cash & Equivalents

59.8

65.5

75.3

61.8

75.4

    Short Term Investments

66.4

72.9

114.6

149.1

106.4

Cash and Short Term Investments

126.1

138.4

189.9

210.9

181.8

        Accounts Receivable - Trade, Gross

212.1

182.8

157.2

143.4

145.6

        Provision for Doubtful Accounts

0.0

0.0

-0.1

-1.1

-1.1

    Trade Accounts Receivable - Net

213.1

188.7

158.7

144.3

145.9

    Other Receivables

6.4

19.8

7.2

3.4

6.9

Total Receivables, Net

219.6

208.5

165.9

147.7

152.8

    Inventories - Finished Goods

69.8

71.7

72.4

52.3

43.8

    Inventories - Work In Progress

20.5

34.7

35.5

33.2

32.0

    Inventories - Raw Materials

34.7

28.4

30.4

26.1

25.2

    Inventories - Other

19.1

18.9

18.5

14.1

15.1

Total Inventory

144.1

153.7

156.9

125.7

116.2

Prepaid Expenses

2.9

3.8

4.6

1.3

2.2

    Deferred Income Tax - Current Asset

-

-

-

1.7

2.1

    Other Current Assets

0.0

0.0

0.0

0.0

0.3

Other Current Assets, Total

0.0

0.0

0.0

1.7

2.3

Total Current Assets

492.7

504.4

517.2

487.4

455.3

 

 

 

 

 

 

        Buildings

208.3

198.5

191.5

186.4

171.6

        Land/Improvements

20.9

20.4

19.7

19.6

18.3

        Machinery/Equipment

729.4

697.9

671.6

691.9

639.0

        Construction in Progress

98.4

69.4

25.5

31.4

23.5

        Other Property/Plant/Equipment

47.2

44.1

41.0

-

-

    Property/Plant/Equipment - Gross

1,104.2

1,030.3

949.3

929.3

852.3

    Accumulated Depreciation

-695.9

-666.6

-633.4

-622.7

-571.2

Property/Plant/Equipment - Net

408.3

363.7

315.9

306.6

281.1

Intangibles, Net

28.8

30.6

30.7

23.6

21.7

    LT Investment - Affiliate Companies

75.7

55.4

40.8

40.6

35.4

    LT Investments - Other

227.8

228.6

220.5

109.9

104.1

Long Term Investments

303.5

284.0

261.3

150.5

139.6

    Other Long Term Assets

4.3

4.0

3.7

9.8

9.1

Other Long Term Assets, Total

4.3

4.0

3.7

9.8

9.1

Total Assets

1,237.6

1,186.8

1,128.7

977.9

906.8

 

 

 

 

 

 

Accounts Payable

97.7

89.9

86.7

84.9

86.9

Accrued Expenses

13.0

8.9

15.4

9.1

11.4

Notes Payable/Short Term Debt

17.3

13.2

10.6

0.0

0.0

Current Portion - Long Term Debt/Capital Leases

-

-

-

-

0.0

    Dividends Payable

0.1

15.1

0.1

0.1

0.1

    Customer Advances

1.0

1.3

0.6

0.8

0.8

    Security Deposits

0.0

0.0

0.0

0.0

0.1

    Income Taxes Payable

9.7

5.0

10.5

8.2

8.2

    Other Payables

29.7

29.8

30.2

24.5

22.5

    Other Current Liabilities

1.1

1.2

2.1

1.5

4.0

Other Current liabilities, Total

41.5

52.3

43.6

34.9

35.6

Total Current Liabilities

169.4

164.3

156.2

128.9

133.9

 

 

 

 

 

 

    Long Term Debt

-

-

-

-

0.0

Total Long Term Debt

0.0

0.0

0.0

0.0

0.0

Total Debt

17.3

13.2

10.6

0.0

0.0

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

38.2

40.6

33.2

11.2

10.6

Deferred Income Tax

38.2

40.6

33.2

11.2

10.6

    Pension Benefits - Underfunded

23.3

21.4

18.6

14.9

12.8

    Other Long Term Liabilities

7.3

6.2

5.1

4.4

2.4

Other Liabilities, Total

30.6

27.6

23.7

19.3

15.2

Total Liabilities

238.1

232.6

213.2

159.4

159.7

 

 

 

 

 

 

    Common Stock

120.8

117.6

113.7

113.1

105.6

Common Stock

120.8

117.6

113.7

113.1

105.6

Additional Paid-In Capital

310.9

302.7

292.9

291.8

272.3

Retained Earnings (Accumulated Deficit)

467.8

431.7

411.5

402.8

359.4

Treasury Stock - Common

-10.0

-10.1

-10.7

-11.2

-10.4

Unrealized Gain (Loss)

109.8

112.3

108.2

22.0

20.2

    Other Equity

-

0.0

0.0

-

-

Other Equity, Total

-

0.0

0.0

-

-

Total Equity

999.4

954.2

915.6

818.5

747.1

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,237.6

1,186.8

1,128.7

977.9

906.8

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

25.4

25.4

25.4

25.4

25.4

Total Common Shares Outstanding

25.4

25.4

25.4

25.4

25.4

Treasury Shares - Common Stock Primary Issue

0.4

0.4

0.4

0.4

0.5

Employees

997

1,008

959

965

942

Number of Common Shareholders

36,841

-

30,714

-

-

Deferred Revenue - Current

1.0

1.3

0.6

0.8

0.8

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.28

UK Pound

1

Rs.80.08

Euro

1

Rs.68.45

 

 

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.