MIRA INFORM
REPORT
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Report Date : |
14.11.2011 |
IDENTIFICATION DETAILS
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Name : |
ORIENTAL PRECISION & ENGINEERING CO LTD. |
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Registered Office : |
1614-1 Songjung-Dong, Kangseo-Gu, Pusan, 618-270 |
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Country : |
South korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
19.07.1980 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
manufacture and sale
of shipping superstructures and shipping machineries |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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South Korea |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name & address
Oriental Precision & Engineering Co Ltd.
1614-1 Songjung-Dong
Kangseo-Gu
Pusan, 618-270
Korea, Republic of
Tel: 82-51-2020101
Fax: 82-51-8313306
Synthesis
Employees: 584
Company Type: Public Independent
Traded:
KOSDAQ: 014940
Incorporation Date: 19-Jul-1980
Auditor: Sungdoe Accounting Corp.
Financials in: USD
(Millions)
Fiscal Year End: 31-Dec-2010
Reporting Currency: South
Korean Won
Annual Sales: 311.1
1
Net Income: (2.8)
Total Assets: 503.8 2
Market Value: 47.3
(04-Nov-2011)
Business Description
ORIENTAL PRECISION
& ENGINEERING CO.,LTD is a Korea-based company engaged in the manufacture
and sale of shipping superstructures and shipping machineries. Through its
shipping superstructures business area, the Company mainly offers deck houses,
engine room casings, funnels and hull blocks. Through its shipping machineries
business area, the Company mainly offers cranes, including deck cranes, hose
handling cranes, provision cranes, knuckle cranes, electric slewing cranes,
monorail cranes, engine room cranes, offshore cranes and gantry cranes; davits,
including life boat davits and free-fall davits, and moorings and winches. In
addition, the Company offers plants. The Company distributes its products
within domestic market and to overseas markets, including Japan, China and
Europe. For the fiscal year ended 31 December 2010, Oriental Precision &
Engineering's revenues decreased 28% to W359.76B. Net loss totaled W3.29B vs.
an income of W10.51B. Revenues reflects decreased demand for DECK HOUSE in
domestic & overseas market. Net income was also suffered from increased
interest expense, decreased gain on valuation of derivative and decreased gain
on foreign currency translation.
Industry
Industry Construction Services
ANZSIC 2006: 3242 - Carpentry
Services
NACE 2002: 4542 - Joinery
installation
NAICS 2002: 23835 - Finish
Carpentry Contractors
UK SIC 2003: 4542 - Joinery
installation
US SIC 1987: 1751 - Carpentry
Work
Key Executives
|
Name |
Title |
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Jong Seok Seo |
Chairman of the Board, Co-Chief Executive
Officer |
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Yeong Rae Kim |
Internal Auditor |
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Chong Suk Suh |
Co-Chief Executive Officer |
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Seok Won Jang |
Co-Assistant Managing Director |
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J. J. Kim |
Manager-Product |
Significant Developments
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Topic |
#* |
Most Recent
Headline |
Date |
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Divestitures / Spin-offs |
1 |
Oriental Precision & Engineering Co.,
Ltd. to Sell Ship |
30-Dec-2010 |
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Business Deals |
11 |
Oriental Precision & Engineering Co.,
Ltd. Signs Contract with HYUNDAI VINASHIN SHIPYARD CO.,LTD |
25-Oct-2011 |
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Equity Financing / Related |
4 |
Oriental Precision & Engineering Co.,
Ltd. Completes Issuance of New Shares |
9-Aug-2011 |
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Debt Financing / Related |
3 |
Oriental Precision & Engineering Co.,
Ltd. Adjusts Conversion Price of 14th Convertible Bonds |
26-May-2011 |
* number of significant developments within the last 12 months
Financial Summary
As of 31-Dec-2010
Key Ratios Company Industry
Sales 5 Year Growth 12.99 10.10
Stock Snapshot
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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
1614-1 Songjung-Dong
Kangseo-Gu
Pusan, 618-270
Korea, Republic of
Tel: 82-51-2020101
Fax: 82-51-8313306
Quote Symbol – Exchange
014940 - KOSDAQ
Sales KRW(mil): 359,762.5
Assets KRW(mil): 571,730.3
Employees: 584
Fiscal Year End: 31-Dec-2010
Industry: Construction
Services
Incorporation Date: 19-Jul-1980
Company Type: Public
Independent
Quoted Status: Quoted
Chairman of the Board, Co-Chief Executive Officer: Jong Seok Seo
Company Web Links
· Company Contact/E-mail
· Corporate History/Profile
· Financial Information
· Home Page
· Investor Relations
· News Releases
· Products/Services
Contents
· Industry Codes
· Business Description
· Financial Data
· Market Data
· Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2462 - Mining and Construction Machinery Manufacturing
3242 - Carpentry Services
3020 - Non-Residential Building Construction
NACE 2002 Codes:
2952 - Manufacture of machinery for mining, quarrying and
construction
4521 - General construction of buildings and civil engineering
works
4542 - Joinery installation
NAICS 2002 Codes:
333120 - Construction Machinery Manufacturing
23835 - Finish Carpentry Contractors
236210 - Industrial Building Construction
US SIC 1987:
3531 - Construction Machinery and Equipment
1541 - General Contractors-Industrial Buildings and Warehouses
1751 - Carpentry Work
UK SIC 2003:
45212 - Construction of domestic buildings
4542 - Joinery installation
2952 - Manufacture of machinery for mining, quarrying and
construction
Business
Description
ORIENTAL PRECISION
& ENGINEERING CO.,LTD is a Korea-based company engaged in the manufacture
and sale of shipping superstructures and shipping machineries. Through its
shipping superstructures business area, the Company mainly offers deck houses,
engine room casings, funnels and hull blocks. Through its shipping machineries
business area, the Company mainly offers cranes, including deck cranes, hose
handling cranes, provision cranes, knuckle cranes, electric slewing cranes,
monorail cranes, engine room cranes, offshore cranes and gantry cranes; davits,
including life boat davits and free-fall davits, and moorings and winches. In
addition, the Company offers plants. The Company distributes its products
within domestic market and to overseas markets, including Japan, China and
Europe. For the fiscal year ended 31 December 2010, Oriental Precision &
Engineering's revenues decreased 28% to W359.76B. Net loss totaled W3.29B vs.
an income of W10.51B. Revenues reflects decreased demand for DECK HOUSE in
domestic & overseas market. Net income was also suffered from increased
interest expense, decreased gain on valuation of derivative and decreased gain
on foreign currency translation.
More Business
Descriptions
· Manufacture of equipment for ships including deck houses
· Ship and Boat Building
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executive report
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Board of Directors |
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Chairman of the Board, Co-Chief Executive Officer |
Chairman |
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Non-Executive Independent Director |
Director/Board Member |
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Non-Executive Independent Director |
Director/Board Member |
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Vice President, Director |
Director/Board Member |
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Managing Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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President, Co-Chief Executive Officer, Director |
Director/Board Member |
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Executives |
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President, Co-Chief Executive Officer,
Director |
Chief Executive Officer |
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Chairman of the Board, Co-Chief Executive
Officer |
Chief Executive Officer |
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Co-Chief Executive Officer |
Chief Executive Officer |
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Co-Assistant Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Co-Assistant Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Managing Director |
Managing Director |
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Internal Auditor |
Accounting Executive |
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Manager-Overseas |
International Executive |
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Manager-Product |
Product Management Executive |
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Significant Developments
Oriental Precision & Engineering Co., Ltd. Signs Contract with HYUNDAI VINASHIN SHIPYARD CO.,LTD Oct 25, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has signed a contract with HYUNDAI VINASHIN SHIPYARD CO.,LTD to supply deck house in Vietnam. The contract amount is KRW 24,781,090,451.
Oriental Precision & Engineering Co., Ltd. Signs Contract with PT.EKA NUSANTARA LINE Oct 13, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has signed a contract with PT.EKA NUSANTARA LINE to supply accommodation barge. The contract amount is KRW 25,379,560,000.
Oriental Precision & Engineering Co., Ltd. Signs Contract with ELEGANT SHIPPING LIMETED Aug 17, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has signed a contract with ELEGANT SHIPPING LIMETED to supply 15 oil and chemical tankers. The contract amount is KRW 184,106,340,000.
Oriental Precision & Engineering Co., Ltd. Completes Issuance of New Shares Aug 09, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has
completed issuance of 6,779,662 common shares through a rights issue and public
offering.
Oriental Precision & Engineering Co., Ltd. Announces Subscription
Results of Rights Issue Aug 03, 2011
Oriental Precision & Engineering Co., Ltd. announced the
subscription results of the previously announced rights offering of 6,779,662
common shares. The number of the shares remaining unclaimed is 557,560 of the
total allocated shares and the unclaimed shares will be open for subscription
to public from August 8, 2011 to August 9, 2011. The Company raised KRW
8,094,438,560 in proceeds of the share offering.
Oriental Precision & Engineering Co., Ltd. Signs Contract with
HYUNDAI HEAVY INDUSTRIES CO.,LTD Jun 30, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has
signed a contract with HYUNDAI HEAVY INDUSTRIES CO.,LTD to supply living quarters.
The contract amount is KRW 23,320 million.
Oriental Precision & Engineering Co., Ltd. Announces Amendments to
Rights Issue Jun 28, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has
made amendments to the previously announced rights offering of 6,779,992 common
shares. Now, the shares will be issued at an issue price of KRW 1,460 per
share. KRW 5,173,555,720 of the proceeds will be used for operations and KRW
4,724,750,800 will be used as other funds.
Oriental Precision & Engineering Co., Ltd. Signs Contract with BITS
Assets Pty Ltd. Jun 17, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has
signed a contract with BITS Assets Pty Ltd. to supply three I/T 1, 100 ton
class RO-RO vehicle & passenger vessels. The contract amount is KRW
27,940,085,100.
Oriental Precision & Engineering Co., Ltd. Announces Rights Issue
Jun 15, 2011
Oriental Precision & Engineering Co., Ltd. announced a rights issue
of 6,779,992 common shares, with par value of KRW 500 per share, raising KRW
12,000,001,740 in proceeds. Of this amount, KRW 5,139,245,635 will be used for
operations, and KRW 6,860,756,105 will be used for other funds. The
shareholders will have rights to purchase 0.29152788 new rights shares for each
share they are holding from August 1, 2011 to August 2, 2011 and the listing
date of the new shares is August 24, 2011.
Oriental Precision & Engineering Co., Ltd. Adjusts Conversion Price
of 14th Convertible Bonds May 26, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has
adjusted the conversion price of its 14th convertible bonds to KRW 3,184 from
KRW 3,322 per share, effective May 26, 2011.
Oriental Precision & Engineering Co., Ltd. Signs Contract with
HYUNDAI HEAVY INDUSTRIES CO.,LTD May 25, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has
signed a contract with HYUNDAI HEAVY INDUSTRIES CO.,LTD to supply deck house.
The contract amount is KRW 58,055,200,500.
Oriental Precision & Engineering Co., Ltd. Decides Bank Loan Apr 29,
2011
Oriental Precision & Engineering Co., Ltd. announced that it has decided to get a loan of KRW 15 billion from a financial institute, for operations.
Oriental Precision & Engineering Co., Ltd. Adjusts Conversion Price of 14th Convertible Bonds Apr 26, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has adjusted the conversion price of its 14th convertible bonds to KRW 3,322 from KRW 3,370 per share, effective April 26, 2011.
Oriental Precision & Engineering Co., Ltd. Signs Contract with HYUNDAI MIPO DOCKYARD CO.,LTD
Apr 06, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has signed a contract with HYUNDAI MIPO DOCKYARD CO.,LTD to supply deck house. The contract amount is KRW 12,580,700,000.
Oriental Precision & Engineering Co., Ltd. Signs Contract with SLS SHIPBUILDING CO., LTD Mar 15, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has signed a contract with SLS SHIPBUILDING CO., LTD to supply deck house, engine room casing and funnel. The contract amount is KRW 6666 million.
Oriental Precision & Engineering Co., Ltd. Signs Contract with Daewoo Shipbuilding & Marine Engineering Co., Ltd. Mar 11, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has signed a contract with Daewoo Shipbuilding & Marine Engineering Co., Ltd. to supply deck house, funnel and engine casing. The contract amount is KRW 5,013,261,000.
Oriental Precision & Engineering Co., Ltd. Signs Contract with Dongbu Corporation Mar 08, 2011
Oriental Precision & Engineering Co., Ltd. announced that it has signed a contract with Dongbu Corporation supply 15,ooo tlc caission floating dock.
Oriental Precision & Engineering Co., Ltd. Signs Contract with HYUNDAI HEAVY INDUSTRIES CO.,LTD Jan 07, 2011
Oriental Precision
& Engineering Co., Ltd. announced that it has signed a contract with
HYUNDAI HEAVY INDUSTRIES CO.,LTD to supply deck house, engine room casing and
funnel. The contract amount is KRW 33,791,670,000.
Oriental Precision
& Engineering Co., Ltd. to Sell Ship Dec 30, 2010
Oriental Precision
& Engineering Co., Ltd. announced that it has decided to sell its ship to a
Korea-based company, for KRW 9,138,825,600, to improve financial structure. The
transaction is expected to settle on December 31, 2010.
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 |
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Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
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UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
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Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
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Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
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Auditor |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sahmgyung
Accounting Corp. |
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Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
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Net Sales |
311.1 |
389.0 |
389.7 |
347.5 |
278.8 |
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Revenue |
311.1 |
389.0 |
389.7 |
347.5 |
278.8 |
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Total Revenue |
311.1 |
389.0 |
389.7 |
347.5 |
278.8 |
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Cost of Revenue |
279.0 |
344.5 |
332.0 |
311.9 |
252.5 |
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Cost of Revenue, Total |
279.0 |
344.5 |
332.0 |
311.9 |
252.5 |
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Gross Profit |
32.2 |
44.6 |
57.7 |
35.6 |
26.3 |
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Selling/General/Administrative Expense |
14.8 |
15.6 |
16.6 |
15.7 |
15.1 |
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Labor & Related Expense |
8.3 |
9.4 |
7.0 |
7.2 |
5.4 |
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Advertising Expense |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
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Total Selling/General/Administrative Expenses |
23.3 |
25.1 |
23.6 |
23.0 |
20.5 |
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Depreciation |
2.9 |
1.2 |
0.6 |
0.5 |
0.5 |
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Amortization of Intangibles |
0.6 |
1.2 |
0.4 |
0.1 |
0.0 |
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Depreciation/Amortization |
3.6 |
2.4 |
1.0 |
0.5 |
0.5 |
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Total Operating Expense |
305.8 |
372.0 |
356.5 |
335.4 |
273.5 |
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Operating Income |
5.4 |
17.0 |
33.2 |
12.1 |
5.3 |
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Interest Expense -
Non-Operating |
-16.0 |
-11.8 |
-7.2 |
-4.8 |
-4.6 |
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Interest Expense, Net Non-Operating |
-16.0 |
-11.8 |
-7.2 |
-4.8 |
-4.6 |
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Interest Income -
Non-Operating |
1.1 |
0.8 |
0.6 |
0.6 |
0.3 |
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Investment Income -
Non-Operating |
5.4 |
6.8 |
-7.2 |
1.2 |
2.0 |
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Interest/Investment Income - Non-Operating |
6.5 |
7.5 |
-6.6 |
1.8 |
2.4 |
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Interest Income (Expense) - Net Non-Operating Total |
-9.5 |
-4.3 |
-13.9 |
-2.9 |
-2.2 |
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Gain (Loss) on Sale of Assets |
1.4 |
-0.8 |
-1.2 |
-1.0 |
0.1 |
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Other Non-Operating Income (Expense) |
0.0 |
-0.8 |
-1.9 |
-0.1 |
-0.5 |
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Other, Net |
0.0 |
-0.8 |
-1.9 |
-0.1 |
-0.5 |
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Income Before Tax |
-2.7 |
11.1 |
16.2 |
8.1 |
2.6 |
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Total Income Tax |
1.9 |
2.7 |
5.2 |
3.4 |
1.4 |
|
Income After Tax |
-4.6 |
8.4 |
11.0 |
4.7 |
1.2 |
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Minority Interest |
1.8 |
-0.2 |
-0.1 |
0.5 |
0.2 |
|
Net Income Before Extraord Items |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
Net Income |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
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Income Available to Common Excl Extraord Items |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
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Income Available to Common Incl Extraord Items |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
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|
Basic/Primary Weighted Average Shares |
22.9 |
22.9 |
22.9 |
22.9 |
18.8 |
|
Basic EPS Excl Extraord Items |
-0.12 |
0.36 |
0.48 |
0.22 |
0.08 |
|
Basic/Primary EPS Incl Extraord Items |
-0.12 |
0.36 |
0.48 |
0.22 |
0.08 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
Diluted Weighted Average Shares |
22.9 |
22.9 |
22.9 |
22.9 |
19.9 |
|
Diluted EPS Excl Extraord Items |
-0.12 |
0.36 |
0.48 |
0.22 |
0.07 |
|
Diluted EPS Incl Extraord Items |
-0.12 |
0.36 |
0.48 |
0.22 |
0.07 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.08 |
0.07 |
0.05 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.2 |
1.7 |
0.7 |
|
Interest Expense, Supplemental |
16.0 |
11.8 |
7.2 |
4.8 |
4.6 |
|
Depreciation, Supplemental |
16.9 |
12.3 |
8.5 |
6.1 |
5.3 |
|
Total Special Items |
-0.8 |
2.0 |
1.2 |
1.0 |
-0.1 |
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Normalized Income Before Tax |
-3.5 |
13.2 |
17.4 |
9.1 |
2.5 |
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|
|
|
|
|
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Effect of Special Items on Income Taxes |
-0.5 |
0.2 |
0.4 |
0.4 |
0.0 |
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Inc Tax Ex Impact of Sp Items |
1.4 |
2.9 |
5.6 |
3.8 |
1.4 |
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Normalized Income After Tax |
-4.9 |
10.3 |
11.8 |
5.2 |
1.1 |
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|
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Normalized Inc. Avail to Com. |
-3.2 |
10.1 |
11.7 |
5.7 |
1.4 |
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Basic Normalized EPS |
-0.14 |
0.44 |
0.51 |
0.25 |
0.07 |
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Diluted Normalized EPS |
-0.14 |
0.44 |
0.51 |
0.25 |
0.07 |
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Amort of Acquisition Costs, Supplemental |
0.6 |
1.2 |
- |
- |
- |
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Amort of Intangibles, Supplemental |
0.2 |
0.4 |
0.4 |
0.1 |
0.0 |
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Rental Expenses |
- |
0.0 |
- |
- |
- |
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Advertising Expense, Supplemental |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
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Normalized EBIT |
5.4 |
17.0 |
33.2 |
12.1 |
5.3 |
|
Normalized EBITDA |
23.1 |
30.9 |
42.1 |
18.3 |
10.6 |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
1.9 |
2.2 |
15.6 |
10.7 |
16.6 |
|
Short Term Investments |
11.8 |
8.1 |
2.0 |
4.6 |
1.3 |
|
Cash and Short Term Investments |
13.6 |
10.3 |
17.6 |
15.3 |
17.9 |
|
Accounts Receivable -
Trade, Gross |
72.3 |
89.2 |
57.0 |
36.0 |
44.1 |
|
Provision for Doubtful
Accounts |
-0.6 |
-0.7 |
-0.4 |
-0.3 |
-0.4 |
|
Trade Accounts Receivable - Net |
72.5 |
89.2 |
56.8 |
36.0 |
43.8 |
|
Other Receivables |
4.7 |
0.9 |
2.7 |
1.3 |
1.4 |
|
Total Receivables, Net |
77.3 |
90.1 |
59.5 |
37.3 |
45.2 |
|
Inventories - Work In Progress |
51.2 |
61.2 |
45.7 |
27.9 |
27.2 |
|
Inventories - Raw Materials |
18.3 |
26.2 |
23.4 |
13.1 |
8.2 |
|
Inventories - Other |
12.3 |
17.0 |
22.1 |
3.0 |
0.5 |
|
Total Inventory |
81.7 |
104.5 |
91.2 |
44.0 |
35.9 |
|
Prepaid Expenses |
9.3 |
8.9 |
9.7 |
6.1 |
4.8 |
|
Deferred Income Tax - Current Asset |
- |
0.2 |
1.3 |
0.1 |
- |
|
Other Current Assets |
1.3 |
1.3 |
2.4 |
- |
0.0 |
|
Other Current Assets, Total |
1.3 |
1.6 |
3.6 |
0.1 |
0.0 |
|
Total Current Assets |
183.2 |
215.3 |
181.5 |
102.8 |
103.8 |
|
|
|
|
|
|
|
|
Buildings |
128.1 |
76.8 |
63.7 |
74.8 |
49.7 |
|
Land/Improvements |
80.6 |
73.4 |
67.9 |
27.5 |
27.3 |
|
Machinery/Equipment |
115.0 |
75.9 |
53.3 |
47.2 |
33.6 |
|
Construction in
Progress |
28.3 |
73.0 |
56.8 |
31.3 |
17.4 |
|
Other
Property/Plant/Equipment |
0.2 |
0.3 |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
352.3 |
299.4 |
241.8 |
180.7 |
128.0 |
|
Accumulated Depreciation |
-63.6 |
-50.8 |
-33.0 |
-37.0 |
-32.1 |
|
Property/Plant/Equipment - Net |
288.7 |
248.7 |
208.7 |
143.8 |
95.9 |
|
Goodwill, Net |
3.2 |
4.6 |
- |
- |
- |
|
Intangibles, Net |
3.2 |
3.2 |
2.6 |
2.0 |
1.6 |
|
LT Investment - Affiliate Companies |
8.5 |
4.1 |
18.1 |
2.7 |
1.0 |
|
LT Investments - Other |
11.6 |
8.2 |
7.6 |
4.4 |
3.5 |
|
Long Term Investments |
20.1 |
12.3 |
25.7 |
7.2 |
4.5 |
|
Deferred Income Tax - Long Term Asset |
- |
0.2 |
- |
1.9 |
1.8 |
|
Other Long Term Assets |
5.4 |
7.7 |
7.0 |
4.1 |
1.9 |
|
Other Long Term Assets, Total |
5.4 |
7.9 |
7.0 |
5.9 |
3.7 |
|
Total Assets |
503.8 |
492.1 |
425.6 |
261.7 |
209.6 |
|
|
|
|
|
|
|
|
Accounts Payable |
54.3 |
60.2 |
64.0 |
34.4 |
26.8 |
|
Accrued Expenses |
2.7 |
3.3 |
4.3 |
3.7 |
2.4 |
|
Notes Payable/Short Term Debt |
128.7 |
167.5 |
92.7 |
12.7 |
54.0 |
|
Current Portion - Long Term Debt/Capital Leases |
64.2 |
19.6 |
18.8 |
22.5 |
4.3 |
|
Customer Advances |
1.8 |
10.5 |
21.0 |
16.7 |
6.8 |
|
Security Deposits |
- |
0.0 |
- |
- |
- |
|
Income Taxes Payable |
0.1 |
0.3 |
4.4 |
3.8 |
1.3 |
|
Other Payables |
5.5 |
5.6 |
4.8 |
6.0 |
5.5 |
|
Deferred Income Tax - Current Liability |
0.2 |
- |
- |
0.3 |
0.1 |
|
Other Current Liabilities |
6.7 |
5.8 |
8.3 |
1.5 |
0.5 |
|
Other Current liabilities, Total |
14.3 |
22.2 |
38.5 |
28.4 |
14.3 |
|
Total Current Liabilities |
264.4 |
272.8 |
218.4 |
101.7 |
101.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
112.3 |
92.7 |
94.3 |
88.8 |
49.0 |
|
Total Long Term Debt |
112.3 |
92.7 |
94.3 |
88.8 |
49.0 |
|
Total Debt |
305.2 |
279.8 |
205.9 |
124.0 |
107.3 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
11.0 |
10.4 |
9.1 |
- |
- |
|
Deferred Income Tax |
11.0 |
10.4 |
9.1 |
- |
- |
|
Minority Interest |
7.0 |
3.6 |
2.7 |
1.8 |
1.4 |
|
Reserves |
0.4 |
0.3 |
- |
- |
- |
|
Pension Benefits - Underfunded |
3.4 |
4.9 |
6.2 |
9.7 |
11.4 |
|
Other Liabilities, Total |
3.7 |
5.2 |
6.2 |
9.7 |
11.4 |
|
Total Liabilities |
398.3 |
384.7 |
330.7 |
202.0 |
163.5 |
|
|
|
|
|
|
|
|
Common Stock |
9.5 |
9.2 |
8.5 |
11.5 |
9.9 |
|
Common Stock |
9.5 |
9.2 |
8.5 |
11.5 |
9.9 |
|
Additional Paid-In Capital |
21.3 |
20.1 |
18.5 |
25.0 |
18.5 |
|
Retained Earnings (Accumulated Deficit) |
33.6 |
35.6 |
26.9 |
25.0 |
20.8 |
|
Treasury Stock - Common |
-1.3 |
-1.2 |
-1.2 |
-1.6 |
-2.3 |
|
Unrealized Gain (Loss) |
43.2 |
45.3 |
39.3 |
0.0 |
0.0 |
|
Translation Adjustment |
-0.8 |
-1.8 |
3.0 |
-0.2 |
-0.7 |
|
Other Equity, Total |
-0.8 |
-1.8 |
3.0 |
-0.2 |
-0.7 |
|
Total Equity |
105.5 |
107.3 |
94.9 |
59.7 |
46.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
503.8 |
492.1 |
425.6 |
261.7 |
209.6 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
22.9 |
22.9 |
22.9 |
22.9 |
19.1 |
|
Total Common Shares Outstanding |
22.9 |
22.9 |
22.9 |
22.9 |
19.1 |
|
Treasury Shares - Common Stock Primary Issue |
0.7 |
0.7 |
0.7 |
0.7 |
1.0 |
|
Employees |
584 |
582 |
663 |
583 |
480 |
|
Number of Common Shareholders |
8,454 |
9,966 |
9,617 |
8,257 |
1,815 |
|
Deferred Revenue - Current |
1.8 |
10.5 |
21.0 |
16.7 |
6.8 |
|
Total Long Term Debt, Supplemental |
176.8 |
112.4 |
9.9 |
86.3 |
- |
|
Long Term Debt Maturing within 1 Year |
64.2 |
30.4 |
3.9 |
8.2 |
- |
|
Long Term Debt Maturing in Year 2 |
67.1 |
33.3 |
3.5 |
16.7 |
- |
|
Long Term Debt Maturing in Year 3 |
30.7 |
29.3 |
1.6 |
14.9 |
- |
|
Long Term Debt Maturing in Year 4 |
- |
- |
0.3 |
23.2 |
- |
|
Long Term Debt Maturing in 2-3 Years |
97.8 |
62.6 |
5.2 |
31.6 |
- |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
0.3 |
23.2 |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
14.8 |
19.3 |
0.6 |
23.3 |
- |
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 |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-4.6 |
8.4 |
11.0 |
4.7 |
- |
|
Depreciation |
16.9 |
12.3 |
8.5 |
6.1 |
- |
|
Depreciation/Depletion |
16.9 |
12.3 |
8.5 |
6.1 |
- |
|
Amortization of Intangibles |
0.8 |
1.6 |
0.4 |
0.1 |
- |
|
Amortization |
0.8 |
1.6 |
0.4 |
0.1 |
- |
|
Deferred Taxes |
0.5 |
1.7 |
-1.5 |
-0.2 |
- |
|
Unusual Items |
3.6 |
0.5 |
2.3 |
1.0 |
- |
|
Equity in Net Earnings (Loss) |
-6.7 |
-0.4 |
0.7 |
-0.3 |
- |
|
Other Non-Cash Items |
3.6 |
1.1 |
9.6 |
4.5 |
- |
|
Non-Cash Items |
0.5 |
1.3 |
12.5 |
5.1 |
- |
|
Accounts Receivable |
21.8 |
-17.6 |
-39.1 |
7.2 |
- |
|
Inventories |
26.1 |
2.9 |
-67.5 |
-8.4 |
- |
|
Prepaid Expenses |
0.3 |
2.8 |
-6.0 |
-1.3 |
- |
|
Other Assets |
1.5 |
0.5 |
-4.6 |
-2.2 |
- |
|
Accounts Payable |
-20.5 |
-13.9 |
45.9 |
7.8 |
- |
|
Accrued Expenses |
-0.8 |
-1.0 |
1.7 |
1.3 |
- |
|
Taxes Payable |
-1.0 |
-3.8 |
1.9 |
2.5 |
- |
|
Other Liabilities |
-11.2 |
-20.3 |
10.5 |
5.5 |
- |
|
Changes in Working Capital |
16.3 |
-50.3 |
-57.1 |
12.5 |
- |
|
Cash from Operating Activities |
30.4 |
-25.0 |
-26.3 |
28.2 |
- |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-42.5 |
-19.7 |
-72.2 |
-53.6 |
- |
|
Purchase/Acquisition of Intangibles |
- |
0.0 |
-1.5 |
-0.3 |
- |
|
Capital Expenditures |
-42.5 |
-19.8 |
-73.6 |
-53.9 |
- |
|
Sale of Fixed Assets |
12.7 |
0.3 |
0.6 |
0.2 |
- |
|
Sale/Maturity of Investment |
17.9 |
8.6 |
8.7 |
6.4 |
- |
|
Purchase of Investments |
-24.3 |
-13.2 |
-29.1 |
-12.3 |
- |
|
Other Investing Cash Flow |
0.0 |
-0.2 |
0.1 |
0.1 |
- |
|
Other Investing Cash Flow Items, Total |
6.3 |
-4.6 |
-19.7 |
-5.6 |
- |
|
Cash from Investing Activities |
-36.2 |
-24.3 |
-93.3 |
-59.5 |
- |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.8 |
1.8 |
0.6 |
1.2 |
- |
|
Financing Cash Flow Items |
0.8 |
1.8 |
0.6 |
1.2 |
- |
|
Total Cash Dividends Paid |
- |
-1.6 |
-1.4 |
-0.7 |
- |
|
Sale/Issuance of
Common |
1.2 |
0.7 |
- |
8.0 |
- |
|
Common Stock, Net |
1.2 |
0.7 |
- |
8.0 |
- |
|
Issuance (Retirement) of Stock, Net |
1.2 |
0.7 |
- |
8.0 |
- |
|
Short Term Debt Issued |
658.0 |
606.3 |
534.8 |
374.0 |
- |
|
Short Term Debt
Reduction |
-687.5 |
-557.3 |
-439.5 |
-415.3 |
- |
|
Short Term Debt, Net |
-29.5 |
48.9 |
95.3 |
-41.3 |
- |
|
Long Term Debt Issued |
76.6 |
11.0 |
49.9 |
69.4 |
- |
|
Long Term Debt
Reduction |
-43.9 |
-27.0 |
-20.4 |
-9.8 |
- |
|
Long Term Debt, Net |
32.8 |
-16.0 |
29.5 |
59.6 |
- |
|
Issuance (Retirement) of Debt, Net |
3.3 |
32.9 |
124.8 |
18.3 |
- |
|
Cash from Financing Activities |
5.3 |
33.7 |
124.0 |
26.8 |
- |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
2.2 |
4.4 |
-1.5 |
- |
|
Net Change in Cash |
-0.4 |
-13.4 |
8.7 |
-5.9 |
- |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
2.2 |
15.4 |
9.1 |
16.6 |
- |
|
Net Cash - Ending Balance |
1.8 |
2.0 |
17.8 |
10.8 |
- |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Sales Revenue |
311.1 |
389.0 |
389.7 |
347.5 |
278.8 |
|
Total Revenue |
311.1 |
389.0 |
389.7 |
347.5 |
278.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
279.0 |
344.5 |
332.0 |
311.9 |
252.5 |
|
Salaries |
6.7 |
7.4 |
5.3 |
5.4 |
4.3 |
|
Retirement Allowance |
0.5 |
0.6 |
0.7 |
1.1 |
0.5 |
|
Employee Benefits |
1.1 |
1.4 |
1.0 |
0.8 |
0.5 |
|
Travel Expenses |
0.7 |
0.6 |
0.8 |
0.7 |
0.4 |
|
Communication Exp. |
0.3 |
0.3 |
0.4 |
0.3 |
0.3 |
|
Utility Expenses |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Taxes and Dues |
0.7 |
0.6 |
0.7 |
0.1 |
0.1 |
|
Expenses-Consumable Goods |
0.4 |
0.3 |
1.1 |
0.4 |
0.3 |
|
Publishing & Printing Expenses |
0.5 |
0.6 |
0.6 |
0.5 |
0.4 |
|
Vehicles Expense |
0.6 |
0.5 |
0.5 |
0.6 |
0.5 |
|
Insurance Expenses |
0.5 |
0.3 |
0.4 |
0.3 |
0.2 |
|
Commissions Paid |
2.8 |
2.4 |
1.4 |
1.7 |
1.6 |
|
Shipping/Handling |
2.3 |
2.9 |
5.6 |
3.8 |
3.2 |
|
Entertainment |
0.7 |
0.7 |
0.8 |
0.9 |
0.8 |
|
Education & Training |
0.1 |
0.1 |
0.1 |
0.0 |
0.1 |
|
Exporting Expenses |
4.6 |
5.3 |
4.0 |
6.0 |
6.7 |
|
Provision-Bad Debt |
-0.1 |
0.2 |
0.2 |
- |
0.1 |
|
Advertising Expenses |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Depreciation Expense |
2.9 |
1.2 |
0.6 |
0.5 |
0.5 |
|
Amort of Intangibles |
0.6 |
1.2 |
0.4 |
0.1 |
0.0 |
|
Miscellaneous Operating Expense |
0.7 |
0.8 |
0.1 |
0.4 |
0.4 |
|
Rental Expenses |
- |
0.0 |
- |
- |
- |
|
Repair Expense |
0.0 |
0.0 |
- |
- |
- |
|
Warranty Expenses of Construction Contra |
0.0 |
- |
- |
- |
- |
|
Equipment Usage Fee |
0.0 |
- |
- |
- |
- |
|
Total Operating Expense |
305.8 |
372.0 |
356.5 |
335.4 |
273.5 |
|
|
|
|
|
|
|
|
Interest Income |
1.1 |
0.8 |
0.6 |
0.6 |
0.3 |
|
Gain on Disposal of Tangible Assets |
2.2 |
0.1 |
0.1 |
0.1 |
0.8 |
|
Gain on Derivatives Transactions |
0.3 |
0.7 |
- |
0.0 |
- |
|
Gain-Valuation of Derivatives |
- |
0.9 |
2.7 |
- |
0.0 |
|
Gain on Foreign Exchange Transaction |
3.8 |
3.8 |
4.8 |
1.3 |
1.2 |
|
Gain on Foreign Currency Translation |
0.4 |
0.9 |
0.2 |
0.0 |
0.9 |
|
Gains on Sale of Available for Sale Secu |
0.1 |
- |
- |
- |
- |
|
Gain-Bond Redemption |
- |
- |
- |
- |
0.1 |
|
Recovery of Loan Loss Reserve |
- |
- |
- |
0.1 |
- |
|
Miscellaneous Non-Operating Income |
2.8 |
1.8 |
0.3 |
0.8 |
0.5 |
|
Gain-Futures Transactions |
2.8 |
3.4 |
3.0 |
1.7 |
1.4 |
|
Rental Income |
0.0 |
- |
- |
- |
- |
|
Interest Expenses |
-16.0 |
-11.8 |
-7.2 |
-4.8 |
-4.6 |
|
L-Trade Rcv Disposal |
-0.7 |
-0.9 |
-0.8 |
-1.0 |
-0.7 |
|
Losses on Sale of Property, Plant and Eq |
-0.1 |
- |
-0.5 |
0.0 |
0.0 |
|
Loss on Foreign Exchange Transaction |
-2.5 |
-3.2 |
-6.1 |
-1.3 |
-1.6 |
|
Loss on Foreign Currency Translation |
-0.3 |
-0.2 |
-4.9 |
-0.2 |
0.0 |
|
Losses on Sale of Available for Sale Sec |
0.0 |
- |
- |
- |
- |
|
Losses on Derivative Transactions |
-0.7 |
- |
-1.1 |
-0.1 |
- |
|
Loss on Valuation of Derivatives |
-0.1 |
-0.3 |
-5.0 |
-0.6 |
-0.2 |
|
Loss-Land Revaluation |
- |
- |
-0.2 |
- |
- |
|
Losses on Valuation of Fixed Contracts |
-0.2 |
- |
- |
- |
- |
|
Losses on Sale of Equity Method Securiti |
-5.0 |
- |
- |
- |
- |
|
Contingency Loss, NEZ |
-0.3 |
- |
- |
- |
- |
|
Guarantee Fees Paid |
-0.5 |
-0.2 |
-0.9 |
-0.2 |
-0.1 |
|
Loss-Redemption of Debentures |
- |
- |
-0.9 |
- |
- |
|
Donations Paid |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Bad Debt Expense |
- |
- |
- |
- |
-0.1 |
|
Miscellaneous Non-Operating Expense |
-1.8 |
-2.3 |
-0.4 |
-0.7 |
-0.8 |
|
Gain-Disposal of Equity Method Sec. |
- |
0.3 |
- |
- |
- |
|
Gain under Equity Method |
6.7 |
0.4 |
0.5 |
0.3 |
0.3 |
|
Loss under Equity Method |
0.0 |
0.0 |
-1.1 |
0.0 |
- |
|
Net Income Before Taxes |
-2.7 |
11.1 |
16.2 |
8.1 |
2.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
1.9 |
2.7 |
5.2 |
3.4 |
1.4 |
|
Net Income After Taxes |
-4.6 |
8.4 |
11.0 |
4.7 |
1.2 |
|
|
|
|
|
|
|
|
Minority Interest Gain |
1.8 |
-0.2 |
-0.1 |
0.5 |
0.2 |
|
Net Income Before Extra. Items |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
Net Income |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
|
|
|
|
|
|
|
Income Available to Com Excl E |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl E |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
22.9 |
22.9 |
22.9 |
22.9 |
18.8 |
|
Basic EPS Excluding ExtraOrdin |
-0.12 |
0.36 |
0.48 |
0.22 |
0.08 |
|
Basic EPS Including ExtraOrdin |
-0.12 |
0.36 |
0.48 |
0.22 |
0.08 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
Diluted Weighted Average Share |
22.9 |
22.9 |
22.9 |
22.9 |
19.9 |
|
Diluted EPS Excluding ExtraOrd |
-0.12 |
0.36 |
0.48 |
0.22 |
0.07 |
|
Diluted EPS Including ExtraOrd |
-0.12 |
0.36 |
0.48 |
0.22 |
0.07 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.08 |
0.07 |
0.05 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.2 |
1.7 |
0.7 |
|
Normalized Income Before Taxes |
-3.5 |
13.2 |
17.4 |
9.1 |
2.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex. Impact of Sp Items |
1.4 |
2.9 |
5.6 |
3.8 |
1.4 |
|
Normalized Income After Taxes |
-4.9 |
10.3 |
11.8 |
5.2 |
1.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-3.2 |
10.1 |
11.7 |
5.7 |
1.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.14 |
0.44 |
0.51 |
0.25 |
0.07 |
|
Diluted Normalized EPS |
-0.14 |
0.44 |
0.51 |
0.25 |
0.07 |
|
Interest Expense |
16.0 |
11.8 |
7.2 |
4.8 |
4.6 |
|
Rental Expense, Supplemental |
- |
0.0 |
- |
- |
- |
|
Advertising Expense |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Depreciation |
16.9 |
12.3 |
8.5 |
6.1 |
5.3 |
|
Amort of Goodwill, Supplemental |
0.6 |
1.2 |
- |
- |
- |
|
Amort of Intangibles, Suppleme |
0.2 |
0.4 |
0.4 |
0.1 |
0.0 |
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash and Equivalents |
1.9 |
2.2 |
15.6 |
10.7 |
16.6 |
|
ST Finl Assets |
11.8 |
8.1 |
2.0 |
4.6 |
1.3 |
|
Short-term Loans |
1.1 |
0.8 |
0.6 |
0.9 |
1.0 |
|
Allowance for Doubtful Accounts for Shor |
0.0 |
- |
- |
- |
- |
|
Trade Rcvbls,G |
72.3 |
89.2 |
57.0 |
36.0 |
44.1 |
|
Reserve for Doubtful Accounts |
-0.6 |
-0.7 |
-0.4 |
-0.3 |
-0.4 |
|
Other Receivables |
3.7 |
0.0 |
2.1 |
0.4 |
0.3 |
|
Allowance for Doubtful Accounts for Othe |
0.0 |
- |
- |
- |
- |
|
Advance Payments |
11.2 |
15.9 |
15.1 |
2.6 |
0.2 |
|
Allowance for Doubtful Accounts for Adva |
-0.2 |
- |
- |
- |
- |
|
Prepaid Expense |
1.8 |
1.1 |
0.5 |
0.8 |
0.8 |
|
Prepaid VAT |
7.0 |
6.8 |
8.2 |
4.7 |
2.0 |
|
Prepaid Tariffs |
0.3 |
1.0 |
1.0 |
0.6 |
1.2 |
|
Prepaid Taxes |
0.2 |
0.0 |
- |
- |
0.8 |
|
Derivatives |
0.0 |
1.3 |
2.4 |
- |
0.0 |
|
Miscellaneous Guarantee Deposit, Current |
1.3 |
- |
- |
- |
- |
|
Accrued Income |
0.9 |
0.7 |
0.2 |
0.3 |
0.1 |
|
Deferred Income Tax-Debit |
- |
0.2 |
1.3 |
0.1 |
- |
|
Work in Progress |
51.2 |
61.2 |
45.7 |
27.9 |
27.2 |
|
Stored Goods |
1.2 |
1.1 |
7.0 |
0.3 |
0.3 |
|
Raw Materials |
18.3 |
26.2 |
23.4 |
13.1 |
8.2 |
|
Total Current Assets |
183.2 |
215.3 |
181.5 |
102.8 |
103.8 |
|
|
|
|
|
|
|
|
LT Finl Assets |
9.7 |
6.3 |
5.6 |
4.0 |
3.0 |
|
Securities Available for Sale |
1.9 |
1.9 |
2.0 |
0.4 |
0.5 |
|
Investment Securities under Equity Metho |
8.5 |
4.1 |
18.1 |
2.7 |
1.0 |
|
Long-Term Security Deposits |
5.4 |
7.7 |
7.0 |
4.1 |
1.9 |
|
Land |
80.6 |
73.4 |
67.9 |
27.5 |
27.3 |
|
Buildings |
97.7 |
46.7 |
38.2 |
43.7 |
27.4 |
|
Buildings-Depreciation |
-7.7 |
-5.9 |
-3.7 |
-3.8 |
-3.0 |
|
Structures |
30.5 |
30.0 |
25.5 |
31.1 |
22.4 |
|
Structures-Depreciation |
-9.6 |
-8.5 |
-6.0 |
-6.6 |
-5.5 |
|
Tools/Equipments |
33.5 |
32.8 |
19.3 |
13.6 |
11.6 |
|
Tools & Equipments-Depreciation |
-19.3 |
-15.1 |
-8.5 |
-8.8 |
-7.6 |
|
Machinery/Equip. |
69.0 |
31.6 |
25.1 |
24.6 |
15.5 |
|
Machinery & Equipment-Depreciation |
-18.2 |
-13.8 |
-9.8 |
-12.4 |
-10.6 |
|
Vehicles & Transportation Equipment |
6.1 |
6.0 |
4.4 |
4.8 |
2.8 |
|
Vehicles & Transportation Equipment-Depr |
-3.6 |
-3.1 |
-2.0 |
-2.1 |
-2.4 |
|
Misc. Fixtures |
5.7 |
5.5 |
4.5 |
4.2 |
3.7 |
|
Fixtures-Depreciation |
-5.0 |
-4.2 |
-3.0 |
-3.4 |
-3.0 |
|
Installation Equipment |
0.8 |
- |
- |
- |
- |
|
Installation Equipment-Depreciation |
-0.1 |
- |
- |
- |
- |
|
Construc in Prog |
28.3 |
73.0 |
56.8 |
31.3 |
17.4 |
|
Assets in Recovery Expectation |
0.2 |
0.3 |
- |
- |
- |
|
Assets in Recovery Expect.-Depreciation |
-0.1 |
-0.1 |
- |
- |
- |
|
Deferred Income Tax-Debit |
- |
0.2 |
- |
1.9 |
1.8 |
|
Goodwill |
3.2 |
4.6 |
- |
- |
- |
|
Land Usufruct |
2.0 |
2.0 |
2.0 |
1.9 |
1.5 |
|
Other Intangible Assets |
1.2 |
1.2 |
0.6 |
0.1 |
0.1 |
|
Total Assets |
503.8 |
492.1 |
425.6 |
261.7 |
209.6 |
|
|
|
|
|
|
|
|
Trade Payable |
54.3 |
60.2 |
64.0 |
34.4 |
26.8 |
|
Accounts Payable |
5.5 |
5.6 |
4.8 |
6.0 |
5.5 |
|
Inc Tax Payable |
0.1 |
0.3 |
4.4 |
3.8 |
1.3 |
|
Security Deposit Withheld |
- |
0.0 |
- |
- |
- |
|
VAT Withheld |
0.2 |
0.5 |
- |
- |
- |
|
Tariffs Payable |
- |
0.0 |
0.1 |
0.0 |
0.1 |
|
Accrued Expenses |
2.5 |
2.9 |
4.2 |
3.7 |
2.4 |
|
Advance for Customers |
1.8 |
10.5 |
21.0 |
16.7 |
6.8 |
|
Unearned Income |
0.0 |
- |
- |
- |
- |
|
Deposit Withheld |
6.4 |
4.1 |
3.9 |
0.9 |
0.3 |
|
ST Borrowings |
128.7 |
167.5 |
92.7 |
12.7 |
54.0 |
|
Current Portion of Bonds with Warrant |
- |
- |
- |
9.0 |
- |
|
Current Portion of Long-Term Debts |
64.2 |
11.1 |
18.8 |
8.2 |
4.3 |
|
Current Portion of Bonds |
- |
8.6 |
- |
5.3 |
- |
|
Deferred Income Taxes Liabilities Curren |
0.2 |
- |
- |
0.3 |
0.1 |
|
Derivatives in Liabilities, Current |
0.2 |
1.6 |
4.4 |
0.6 |
0.2 |
|
Confirmed Contracts |
0.2 |
- |
- |
- |
- |
|
Total Current Liability |
264.4 |
272.8 |
218.4 |
101.7 |
101.7 |
|
|
|
|
|
|
|
|
Bonds |
9.7 |
8.6 |
7.9 |
10.7 |
5.4 |
|
LT Borrowings |
87.9 |
84.1 |
86.3 |
78.1 |
43.7 |
|
Discount on LT Borrowings |
-0.5 |
- |
- |
- |
- |
|
Discount on Bonds of Long-term Liabiliti |
0.0 |
- |
- |
- |
- |
|
Convertible Bonds |
15.0 |
- |
- |
- |
- |
|
Conversion Rights Adjustment for Bonds |
-2.3 |
- |
- |
- |
- |
|
Discount on Convertible Bonds of Longter |
-0.4 |
- |
- |
- |
- |
|
Yield to Maturity Premium on Convertible |
2.9 |
- |
- |
- |
- |
|
Total Long Term Debt |
112.3 |
92.7 |
94.3 |
88.8 |
49.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax, Credit |
11.0 |
10.4 |
9.1 |
- |
- |
|
Long-term Provision for Restoration in L |
0.4 |
0.3 |
- |
- |
- |
|
Reserve for Severance and Retirement Ben |
10.6 |
8.7 |
6.2 |
9.7 |
11.4 |
|
Deposit-Retirement Insurance |
0.0 |
-3.7 |
- |
- |
- |
|
Transfer to National Pension Fund |
-0.1 |
-0.1 |
- |
- |
- |
|
Plan Assets |
-7.2 |
- |
- |
- |
- |
|
Minority Interest |
7.0 |
3.6 |
2.7 |
1.8 |
1.4 |
|
Total Liabilities |
398.3 |
384.7 |
330.7 |
202.0 |
163.5 |
|
|
|
|
|
|
|
|
Common Stock |
9.5 |
9.2 |
8.5 |
11.5 |
9.9 |
|
Consolidated Capital Surplus |
21.3 |
20.1 |
18.5 |
25.0 |
18.5 |
|
Consolidated Retained Earnings |
33.6 |
35.6 |
26.9 |
25.0 |
20.8 |
|
Capital Change, Equity Method |
3.4 |
5.5 |
2.2 |
0.0 |
0.0 |
|
Capital Change, Equity Method (Loss) |
-0.5 |
-0.2 |
- |
- |
- |
|
Treasury Stock |
-1.3 |
-1.2 |
-1.2 |
-1.6 |
-2.3 |
|
Gain-Land Revaluation |
40.2 |
40.1 |
37.0 |
- |
- |
|
Losses on Valuation of Available for Sal |
0.1 |
- |
- |
- |
- |
|
Overseas Business Translation Credit |
-0.8 |
-1.8 |
3.0 |
-0.2 |
-0.7 |
|
Total Equity |
105.5 |
107.3 |
94.9 |
59.7 |
46.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholde |
503.8 |
492.1 |
425.6 |
261.7 |
209.6 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
22.9 |
22.9 |
22.9 |
22.9 |
19.1 |
|
Total Common Shares Outstandin |
22.9 |
22.9 |
22.9 |
22.9 |
19.1 |
|
T/S-Common Stock |
0.7 |
0.7 |
0.7 |
0.7 |
1.0 |
|
Deferred Revenue, Current |
1.8 |
10.5 |
21.0 |
16.7 |
6.8 |
|
Full-Time Employees |
584 |
582 |
663 |
583 |
480 |
|
Number of Common Shareholders |
8,454 |
9,966 |
9,617 |
8,257 |
1,815 |
|
Long Term Debt Due in Year 1 |
64.2 |
30.4 |
3.9 |
8.2 |
- |
|
Long Term Debt Due in Year 2 |
67.1 |
33.3 |
3.5 |
16.7 |
- |
|
Long Term Debt Due in Year 3 |
30.7 |
29.3 |
1.6 |
14.9 |
- |
|
Long Term Debt Due in Year 4 |
- |
- |
0.3 |
23.2 |
- |
|
Long Term Debt Remaining |
14.8 |
19.3 |
0.6 |
23.3 |
- |
|
Total Long Term Debt, Supplemental |
176.8 |
112.4 |
9.9 |
86.3 |
- |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2010 |
31-Dec-2009 |
31-Dec-2008 |
31-Dec-2007 |
31-Dec-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
1024.149727 |
|
Auditor |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
-4.6 |
8.4 |
11.0 |
4.7 |
1.1 |
|
Depreciation |
16.9 |
12.3 |
8.5 |
6.1 |
4.5 |
|
Amortization of Intangible Assets |
0.8 |
1.6 |
0.4 |
0.1 |
- |
|
Provision-Doubtful Account |
-0.1 |
0.2 |
0.2 |
- |
0.1 |
|
Bonus |
- |
0.2 |
- |
- |
- |
|
Amort-Other Bad Debt Exp |
- |
- |
- |
- |
0.1 |
|
Amortization of Discount on Bond Issuanc |
0.4 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Amort-Convertible Right Adjustment |
0.6 |
- |
- |
- |
- |
|
Amortization of Subscription Warrant Adj |
- |
- |
0.0 |
0.3 |
0.3 |
|
Provision for Retirement Allowances |
2.3 |
2.0 |
2.6 |
3.4 |
2.7 |
|
Loss on Foreign Currency Translation |
0.3 |
0.2 |
4.6 |
0.2 |
0.0 |
|
Loss-Land Revaluation |
- |
- |
0.2 |
- |
- |
|
Contingency Loss |
0.3 |
- |
- |
- |
- |
|
Loss-Redemption of Bond |
- |
- |
0.9 |
- |
- |
|
Loss on Disposal of Trade Receivable |
0.7 |
0.9 |
0.8 |
1.0 |
0.4 |
|
Losses on Sale of Available for Sale Sec |
0.0 |
- |
- |
- |
0.1 |
|
Losses on Sale of Property, Plant and Eq |
0.1 |
- |
0.5 |
0.0 |
0.0 |
|
Loss on Valuation of Derivatives |
0.1 |
0.3 |
5.0 |
0.6 |
- |
|
Losses on Sale of Equity Method Securiti |
5.0 |
- |
- |
- |
- |
|
Loss-Valuation of Contract on Settlement |
0.2 |
- |
- |
- |
- |
|
Loss under Equity Method |
0.0 |
0.0 |
1.1 |
0.0 |
1.3 |
|
Recovery of Provision for Doubtful Ac |
- |
- |
- |
-0.1 |
0.0 |
|
Gain-Derivatives Valuation |
- |
-0.9 |
-2.7 |
- |
- |
|
G-Tangible Asst Disp |
-2.2 |
-0.1 |
-0.1 |
-0.1 |
0.0 |
|
Gain under Equity Method |
-6.7 |
-0.4 |
-0.4 |
-0.3 |
-0.1 |
|
Gain on Sale of Equity Method Securiti |
- |
-0.3 |
- |
- |
- |
|
Gains on Sale of Available for Sale Secu |
-0.1 |
- |
- |
- |
- |
|
Gain on Foreign Currency Translation |
-0.3 |
-0.9 |
-0.2 |
0.0 |
-1.1 |
|
Increase in Trade Receivables |
23.7 |
-23.9 |
-36.1 |
7.4 |
-7.9 |
|
Account Receivable |
-1.7 |
6.8 |
-2.9 |
-0.1 |
- |
|
Increase in Accrued Income |
-0.1 |
-0.4 |
0.0 |
-0.2 |
0.2 |
|
Guarantee Deposit |
2.8 |
0.5 |
-4.6 |
-2.2 |
- |
|
Increase in Advanced Payments |
5.6 |
6.0 |
-15.7 |
-2.5 |
-0.3 |
|
Increase in Prepaid Expense |
-0.7 |
0.6 |
0.1 |
0.0 |
0.3 |
|
Increase in Prepaid Value Added Taxe |
0.5 |
-0.4 |
-5.4 |
-1.9 |
-1.0 |
|
Decrease or Increase in Prepaid Income T |
-0.1 |
- |
- |
- |
- |
|
Increase in Inventories |
20.5 |
-3.1 |
-51.8 |
-5.9 |
-13.6 |
|
Tariff Advance Payment |
0.7 |
2.6 |
-0.6 |
0.6 |
-0.9 |
|
Deferred Income Tax Credit, A/L |
0.5 |
0.6 |
0.0 |
- |
- |
|
Deferred Taxes-Asset |
0.0 |
1.2 |
-1.5 |
-0.2 |
-0.3 |
|
Other Guarantee Deposit |
-1.3 |
- |
- |
- |
- |
|
Trade Payables |
-18.6 |
-8.4 |
44.6 |
7.3 |
7.4 |
|
Account Payables |
-1.9 |
-5.5 |
1.3 |
0.6 |
1.6 |
|
Accrued Expenses |
-0.8 |
-1.0 |
1.7 |
1.3 |
0.2 |
|
Accrued Inc Tax |
-0.2 |
-4.1 |
1.8 |
2.5 |
0.3 |
|
Increase in Tariffs Payable |
0.0 |
0.3 |
0.1 |
0.0 |
- |
|
Deposit-Retirement Insurance |
0.0 |
2.3 |
-0.3 |
-0.2 |
- |
|
VAT Withheld |
-0.7 |
- |
- |
- |
- |
|
Security Deposit Withheld |
0.0 |
- |
- |
- |
- |
|
Advances Received |
-9.0 |
-16.5 |
10.4 |
10.0 |
10.0 |
|
Increase or Decrease in Unearned Income |
0.0 |
- |
- |
- |
- |
|
Deposits Withheld |
2.1 |
-0.1 |
3.7 |
0.6 |
0.0 |
|
Increase in Reserve for National Pen |
0.0 |
0.0 |
0.1 |
0.2 |
0.1 |
|
Retirement Pension Operating Fund |
-3.3 |
-3.4 |
- |
- |
- |
|
Payment-Retirement Bonus |
-1.0 |
-2.7 |
-3.4 |
-5.0 |
-1.6 |
|
Cash From Operating Activities |
30.4 |
-25.0 |
-26.3 |
28.2 |
3.9 |
|
|
|
|
|
|
|
|
Dec-ST Loans |
0.9 |
0.8 |
0.8 |
1.0 |
0.7 |
|
Dec-Account Rcvbls |
- |
- |
- |
- |
8.7 |
|
Dec-Guarantee Dep |
- |
- |
- |
- |
0.0 |
|
Dec-Retire Insurance |
- |
- |
- |
- |
0.3 |
|
Decrease in Short-Term Financial Asse |
10.8 |
3.9 |
4.8 |
1.6 |
5.1 |
|
Proceeds from Sale of Long-term Financia |
0.1 |
- |
4.0 |
4.5 |
0.6 |
|
Decrease in Derivatives Assets |
1.3 |
1.4 |
- |
0.0 |
- |
|
Disposal of Securities Available for |
0.3 |
0.9 |
0.0 |
0.1 |
0.1 |
|
Disposal of Securities under Equity M |
5.4 |
2.4 |
- |
0.2 |
0.0 |
|
Disposal-Land |
3.4 |
0.1 |
0.1 |
- |
0.0 |
|
Disposal-Buildings |
0.5 |
0.1 |
0.1 |
- |
0.0 |
|
Proceeds from Sale of Structures |
0.1 |
- |
0.3 |
- |
- |
|
Proceeds from Sale of Machinery |
0.0 |
- |
0.1 |
- |
0.0 |
|
Disp-Vehicles |
0.1 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Disp-Tools/Equipmt |
0.8 |
0.1 |
- |
0.0 |
0.1 |
|
Disp-Fixtures |
- |
0.0 |
0.0 |
0.0 |
- |
|
Disposal-Installation Equipment |
0.2 |
- |
- |
- |
- |
|
Proceeds from Sale of Ships |
7.7 |
- |
- |
- |
- |
|
Inc-ST Loans |
-1.1 |
-1.0 |
-0.7 |
-0.9 |
-0.9 |
|
Inc-Account Rcvbls |
- |
- |
- |
- |
-8.5 |
|
Inc-Guarantee Dep |
- |
- |
- |
- |
-0.3 |
|
Inc-Retire Insurance |
- |
- |
- |
- |
-0.6 |
|
Retirement Pension Operating Fund, IP |
0.2 |
- |
- |
- |
- |
|
Increase in Short-Term Financial Asse |
-6.9 |
-2.5 |
-3.1 |
-0.3 |
-1.0 |
|
Increase in Long-Term Financial Asset |
-10.3 |
-7.1 |
-7.0 |
-10.2 |
-2.0 |
|
Decrease in Derivatives Liabilities |
-1.6 |
-2.5 |
-0.5 |
-0.2 |
- |
|
Increase in Securities Available for |
0.0 |
-0.6 |
-1.9 |
0.0 |
-0.1 |
|
Increase in Securities under Equity M |
-5.5 |
-0.4 |
-16.6 |
-1.6 |
-3.9 |
|
Increase in Land |
- |
- |
0.0 |
0.0 |
-0.6 |
|
Increase in Buildings |
-0.1 |
-0.5 |
-6.2 |
-0.3 |
-0.1 |
|
Increase in Structure |
-0.4 |
-0.4 |
-3.6 |
-0.6 |
-0.5 |
|
Acq-Machinery |
-13.4 |
-1.4 |
-9.0 |
-0.6 |
-0.7 |
|
Acquisition of Miscellaneous Fixtures |
-0.2 |
-0.3 |
-1.7 |
-0.6 |
- |
|
Acq-Fixtures |
- |
- |
- |
- |
-0.6 |
|
Increase in Transportation |
-0.5 |
-0.4 |
-1.0 |
-0.1 |
0.0 |
|
Acquisition of Tools |
-3.2 |
-5.7 |
-8.7 |
-1.6 |
-0.6 |
|
Increase in Construction in Progress |
-24.6 |
-11.1 |
-42.0 |
-49.8 |
-6.6 |
|
Increase-Installation Equipments |
0.0 |
- |
- |
- |
- |
|
Purchase of Ships |
0.0 |
- |
- |
- |
- |
|
Increase in Intangible Assets |
- |
0.0 |
-1.5 |
-0.3 |
- |
|
Cash From Investing Activities |
-36.2 |
-24.3 |
-93.3 |
-59.5 |
-11.2 |
|
|
|
|
|
|
|
|
Inc-ST Borrowings |
658.0 |
606.3 |
534.8 |
374.0 |
259.1 |
|
Issuance-Bond with Warrant, Current |
- |
- |
- |
9.9 |
- |
|
Redemption-Bond with Warrant, Current |
- |
- |
-8.6 |
- |
- |
|
Redemption of Short-Term Borrowings |
-687.5 |
-557.3 |
-439.5 |
-415.3 |
-258.1 |
|
Disposal of Treasury Stock |
- |
- |
- |
3.6 |
- |
|
Increase-Common Stock |
1.2 |
0.7 |
- |
4.5 |
0.6 |
|
Inc-LT Borrowing |
61.5 |
3.1 |
49.9 |
48.7 |
7.9 |
|
Issuance-Bond with Warrant |
- |
- |
- |
- |
0.0 |
|
Increase-Convertible Bond |
14.2 |
- |
- |
- |
- |
|
Increase in Bonds |
0.9 |
7.8 |
- |
10.8 |
4.9 |
|
Decrease of Current Portion of LT Lia |
-14.3 |
-11.1 |
-7.0 |
-4.3 |
-1.2 |
|
Decrease of Current Portion of Bonds |
-8.6 |
- |
-4.5 |
- |
-4.9 |
|
Dec-LT Borrowings |
-20.9 |
-15.9 |
-0.3 |
-5.5 |
- |
|
Expense for Bond Issuance |
- |
- |
- |
-0.3 |
0.0 |
|
Decrease in Overseas Business Currenc |
- |
- |
- |
0.5 |
- |
|
Cash Inflow from Consolidated Capital |
0.8 |
1.8 |
0.6 |
1.0 |
- |
|
Payment-Dividends |
- |
-1.6 |
-1.4 |
-0.7 |
-0.8 |
|
Cash Inflow-Merger |
0.0 |
- |
- |
- |
- |
|
Increase-Debenture Issuance Discount |
- |
0.0 |
- |
- |
- |
|
Cash From Financing Activities |
5.3 |
33.7 |
124.0 |
26.8 |
7.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
2.2 |
4.4 |
-1.5 |
- |
|
Net Change in Cash |
-0.4 |
-13.4 |
8.7 |
-5.9 |
0.0 |
|
|
|
|
|
|
|
|
Net Cash Beginning Balance |
2.2 |
15.4 |
9.1 |
16.6 |
0.2 |
|
Net Cash Ending Balance |
1.8 |
2.0 |
17.8 |
10.8 |
0.2 |
Financial Health
Financials in: USD
(mil)
Except for share
items (millions) and per share items (actual units)
|
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Annual Ratios
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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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 |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Sales |
311.1 |
389.0 |
389.7 |
347.5 |
278.8 |
|
Revenue |
311.1 |
389.0 |
389.7 |
347.5 |
278.8 |
|
Total Revenue |
311.1 |
389.0 |
389.7 |
347.5 |
278.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
279.0 |
344.5 |
332.0 |
311.9 |
252.5 |
|
Cost of Revenue, Total |
279.0 |
344.5 |
332.0 |
311.9 |
252.5 |
|
Gross Profit |
32.2 |
44.6 |
57.7 |
35.6 |
26.3 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
14.8 |
15.6 |
16.6 |
15.7 |
15.1 |
|
Labor & Related Expense |
8.3 |
9.4 |
7.0 |
7.2 |
5.4 |
|
Advertising Expense |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Total Selling/General/Administrative Expenses |
23.3 |
25.1 |
23.6 |
23.0 |
20.5 |
|
Depreciation |
2.9 |
1.2 |
0.6 |
0.5 |
0.5 |
|
Amortization of Intangibles |
0.6 |
1.2 |
0.4 |
0.1 |
0.0 |
|
Depreciation/Amortization |
3.6 |
2.4 |
1.0 |
0.5 |
0.5 |
|
Total Operating Expense |
305.8 |
372.0 |
356.5 |
335.4 |
273.5 |
|
|
|
|
|
|
|
|
Operating Income |
5.4 |
17.0 |
33.2 |
12.1 |
5.3 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-16.0 |
-11.8 |
-7.2 |
-4.8 |
-4.6 |
|
Interest Expense, Net Non-Operating |
-16.0 |
-11.8 |
-7.2 |
-4.8 |
-4.6 |
|
Interest Income -
Non-Operating |
1.1 |
0.8 |
0.6 |
0.6 |
0.3 |
|
Investment Income -
Non-Operating |
5.4 |
6.8 |
-7.2 |
1.2 |
2.0 |
|
Interest/Investment Income - Non-Operating |
6.5 |
7.5 |
-6.6 |
1.8 |
2.4 |
|
Interest Income (Expense) - Net Non-Operating Total |
-9.5 |
-4.3 |
-13.9 |
-2.9 |
-2.2 |
|
Gain (Loss) on Sale of Assets |
1.4 |
-0.8 |
-1.2 |
-1.0 |
0.1 |
|
Other Non-Operating Income (Expense) |
0.0 |
-0.8 |
-1.9 |
-0.1 |
-0.5 |
|
Other, Net |
0.0 |
-0.8 |
-1.9 |
-0.1 |
-0.5 |
|
Income Before Tax |
-2.7 |
11.1 |
16.2 |
8.1 |
2.6 |
|
|
|
|
|
|
|
|
Total Income Tax |
1.9 |
2.7 |
5.2 |
3.4 |
1.4 |
|
Income After Tax |
-4.6 |
8.4 |
11.0 |
4.7 |
1.2 |
|
|
|
|
|
|
|
|
Minority Interest |
1.8 |
-0.2 |
-0.1 |
0.5 |
0.2 |
|
Net Income Before Extraord Items |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
Net Income |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
22.9 |
22.9 |
22.9 |
22.9 |
18.8 |
|
Basic EPS Excl Extraord Items |
-0.12 |
0.36 |
0.48 |
0.22 |
0.08 |
|
Basic/Primary EPS Incl Extraord Items |
-0.12 |
0.36 |
0.48 |
0.22 |
0.08 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
Diluted Weighted Average Shares |
22.9 |
22.9 |
22.9 |
22.9 |
19.9 |
|
Diluted EPS Excl Extraord Items |
-0.12 |
0.36 |
0.48 |
0.22 |
0.07 |
|
Diluted EPS Incl Extraord Items |
-0.12 |
0.36 |
0.48 |
0.22 |
0.07 |
|
Dividends per Share - Common Stock Primary Issue |
0.00 |
0.00 |
0.08 |
0.07 |
0.05 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.2 |
1.7 |
0.7 |
|
Interest Expense, Supplemental |
16.0 |
11.8 |
7.2 |
4.8 |
4.6 |
|
Depreciation, Supplemental |
16.9 |
12.3 |
8.5 |
6.1 |
5.3 |
|
Total Special Items |
-0.8 |
2.0 |
1.2 |
1.0 |
-0.1 |
|
Normalized Income Before Tax |
-3.5 |
13.2 |
17.4 |
9.1 |
2.5 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
-0.5 |
0.2 |
0.4 |
0.4 |
0.0 |
|
Inc Tax Ex Impact of Sp Items |
1.4 |
2.9 |
5.6 |
3.8 |
1.4 |
|
Normalized Income After Tax |
-4.9 |
10.3 |
11.8 |
5.2 |
1.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-3.2 |
10.1 |
11.7 |
5.7 |
1.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.14 |
0.44 |
0.51 |
0.25 |
0.07 |
|
Diluted Normalized EPS |
-0.14 |
0.44 |
0.51 |
0.25 |
0.07 |
|
Amort of Acquisition Costs, Supplemental |
0.6 |
1.2 |
- |
- |
- |
|
Amort of Intangibles, Supplemental |
0.2 |
0.4 |
0.4 |
0.1 |
0.0 |
|
Rental Expenses |
- |
0.0 |
- |
- |
- |
|
Advertising Expense, Supplemental |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Normalized EBIT |
5.4 |
17.0 |
33.2 |
12.1 |
5.3 |
|
Normalized EBITDA |
23.1 |
30.9 |
42.1 |
18.3 |
10.6 |
Interim Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash & Equivalents |
1.9 |
2.2 |
15.6 |
10.7 |
16.6 |
|
Short Term Investments |
11.8 |
8.1 |
2.0 |
4.6 |
1.3 |
|
Cash and Short Term Investments |
13.6 |
10.3 |
17.6 |
15.3 |
17.9 |
|
Accounts Receivable -
Trade, Gross |
72.3 |
89.2 |
57.0 |
36.0 |
44.1 |
|
Provision for Doubtful
Accounts |
-0.6 |
-0.7 |
-0.4 |
-0.3 |
-0.4 |
|
Trade Accounts Receivable - Net |
72.5 |
89.2 |
56.8 |
36.0 |
43.8 |
|
Other Receivables |
4.7 |
0.9 |
2.7 |
1.3 |
1.4 |
|
Total Receivables, Net |
77.3 |
90.1 |
59.5 |
37.3 |
45.2 |
|
Inventories - Work In Progress |
51.2 |
61.2 |
45.7 |
27.9 |
27.2 |
|
Inventories - Raw Materials |
18.3 |
26.2 |
23.4 |
13.1 |
8.2 |
|
Inventories - Other |
12.3 |
17.0 |
22.1 |
3.0 |
0.5 |
|
Total Inventory |
81.7 |
104.5 |
91.2 |
44.0 |
35.9 |
|
Prepaid Expenses |
9.3 |
8.9 |
9.7 |
6.1 |
4.8 |
|
Deferred Income Tax - Current Asset |
- |
0.2 |
1.3 |
0.1 |
- |
|
Other Current Assets |
1.3 |
1.3 |
2.4 |
- |
0.0 |
|
Other Current Assets, Total |
1.3 |
1.6 |
3.6 |
0.1 |
0.0 |
|
Total Current Assets |
183.2 |
215.3 |
181.5 |
102.8 |
103.8 |
|
|
|
|
|
|
|
|
Buildings |
128.1 |
76.8 |
63.7 |
74.8 |
49.7 |
|
Land/Improvements |
80.6 |
73.4 |
67.9 |
27.5 |
27.3 |
|
Machinery/Equipment |
115.0 |
75.9 |
53.3 |
47.2 |
33.6 |
|
Construction in
Progress |
28.3 |
73.0 |
56.8 |
31.3 |
17.4 |
|
Other
Property/Plant/Equipment |
0.2 |
0.3 |
- |
- |
- |
|
Property/Plant/Equipment - Gross |
352.3 |
299.4 |
241.8 |
180.7 |
128.0 |
|
Accumulated Depreciation |
-63.6 |
-50.8 |
-33.0 |
-37.0 |
-32.1 |
|
Property/Plant/Equipment - Net |
288.7 |
248.7 |
208.7 |
143.8 |
95.9 |
|
Goodwill, Net |
3.2 |
4.6 |
- |
- |
- |
|
Intangibles, Net |
3.2 |
3.2 |
2.6 |
2.0 |
1.6 |
|
LT Investment - Affiliate Companies |
8.5 |
4.1 |
18.1 |
2.7 |
1.0 |
|
LT Investments - Other |
11.6 |
8.2 |
7.6 |
4.4 |
3.5 |
|
Long Term Investments |
20.1 |
12.3 |
25.7 |
7.2 |
4.5 |
|
Deferred Income Tax - Long Term Asset |
- |
0.2 |
- |
1.9 |
1.8 |
|
Other Long Term Assets |
5.4 |
7.7 |
7.0 |
4.1 |
1.9 |
|
Other Long Term Assets, Total |
5.4 |
7.9 |
7.0 |
5.9 |
3.7 |
|
Total Assets |
503.8 |
492.1 |
425.6 |
261.7 |
209.6 |
|
|
|
|
|
|
|
|
Accounts Payable |
54.3 |
60.2 |
64.0 |
34.4 |
26.8 |
|
Accrued Expenses |
2.7 |
3.3 |
4.3 |
3.7 |
2.4 |
|
Notes Payable/Short Term Debt |
128.7 |
167.5 |
92.7 |
12.7 |
54.0 |
|
Current Portion - Long Term Debt/Capital Leases |
64.2 |
19.6 |
18.8 |
22.5 |
4.3 |
|
Customer Advances |
1.8 |
10.5 |
21.0 |
16.7 |
6.8 |
|
Security Deposits |
- |
0.0 |
- |
- |
- |
|
Income Taxes Payable |
0.1 |
0.3 |
4.4 |
3.8 |
1.3 |
|
Other Payables |
5.5 |
5.6 |
4.8 |
6.0 |
5.5 |
|
Deferred Income Tax - Current Liability |
0.2 |
- |
- |
0.3 |
0.1 |
|
Other Current Liabilities |
6.7 |
5.8 |
8.3 |
1.5 |
0.5 |
|
Other Current liabilities, Total |
14.3 |
22.2 |
38.5 |
28.4 |
14.3 |
|
Total Current Liabilities |
264.4 |
272.8 |
218.4 |
101.7 |
101.7 |
|
|
|
|
|
|
|
|
Long Term Debt |
112.3 |
92.7 |
94.3 |
88.8 |
49.0 |
|
Total Long Term Debt |
112.3 |
92.7 |
94.3 |
88.8 |
49.0 |
|
Total Debt |
305.2 |
279.8 |
205.9 |
124.0 |
107.3 |
|
|
|
|
|
|
|
|
Deferred Income Tax - LT Liability |
11.0 |
10.4 |
9.1 |
- |
- |
|
Deferred Income Tax |
11.0 |
10.4 |
9.1 |
- |
- |
|
Minority Interest |
7.0 |
3.6 |
2.7 |
1.8 |
1.4 |
|
Reserves |
0.4 |
0.3 |
- |
- |
- |
|
Pension Benefits - Underfunded |
3.4 |
4.9 |
6.2 |
9.7 |
11.4 |
|
Other Liabilities, Total |
3.7 |
5.2 |
6.2 |
9.7 |
11.4 |
|
Total Liabilities |
398.3 |
384.7 |
330.7 |
202.0 |
163.5 |
|
|
|
|
|
|
|
|
Common Stock |
9.5 |
9.2 |
8.5 |
11.5 |
9.9 |
|
Common Stock |
9.5 |
9.2 |
8.5 |
11.5 |
9.9 |
|
Additional Paid-In Capital |
21.3 |
20.1 |
18.5 |
25.0 |
18.5 |
|
Retained Earnings (Accumulated Deficit) |
33.6 |
35.6 |
26.9 |
25.0 |
20.8 |
|
Treasury Stock - Common |
-1.3 |
-1.2 |
-1.2 |
-1.6 |
-2.3 |
|
Unrealized Gain (Loss) |
43.2 |
45.3 |
39.3 |
0.0 |
0.0 |
|
Translation Adjustment |
-0.8 |
-1.8 |
3.0 |
-0.2 |
-0.7 |
|
Other Equity, Total |
-0.8 |
-1.8 |
3.0 |
-0.2 |
-0.7 |
|
Total Equity |
105.5 |
107.3 |
94.9 |
59.7 |
46.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
503.8 |
492.1 |
425.6 |
261.7 |
209.6 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
22.9 |
22.9 |
22.9 |
22.9 |
19.1 |
|
Total Common Shares Outstanding |
22.9 |
22.9 |
22.9 |
22.9 |
19.1 |
|
Treasury Shares - Common Stock Primary Issue |
0.7 |
0.7 |
0.7 |
0.7 |
1.0 |
|
Employees |
584 |
582 |
663 |
583 |
480 |
|
Number of Common Shareholders |
8,454 |
9,966 |
9,617 |
8,257 |
1,815 |
|
Deferred Revenue - Current |
1.8 |
10.5 |
21.0 |
16.7 |
6.8 |
|
Total Long Term Debt, Supplemental |
176.8 |
112.4 |
9.9 |
86.3 |
- |
|
Long Term Debt Maturing within 1 Year |
64.2 |
30.4 |
3.9 |
8.2 |
- |
|
Long Term Debt Maturing in Year 2 |
67.1 |
33.3 |
3.5 |
16.7 |
- |
|
Long Term Debt Maturing in Year 3 |
30.7 |
29.3 |
1.6 |
14.9 |
- |
|
Long Term Debt Maturing in Year 4 |
- |
- |
0.3 |
23.2 |
- |
|
Long Term Debt Maturing in 2-3 Years |
97.8 |
62.6 |
5.2 |
31.6 |
- |
|
Long Term Debt Maturing in 4-5 Years |
- |
- |
0.3 |
23.2 |
- |
|
Long Term Debt Matur. in Year 6 & Beyond |
14.8 |
19.3 |
0.6 |
23.3 |
- |
Interim Balance Sheet
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
Annual Cash Flows
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 |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified with
Explanation |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
-4.6 |
8.4 |
11.0 |
4.7 |
- |
|
Depreciation |
16.9 |
12.3 |
8.5 |
6.1 |
- |
|
Depreciation/Depletion |
16.9 |
12.3 |
8.5 |
6.1 |
- |
|
Amortization of Intangibles |
0.8 |
1.6 |
0.4 |
0.1 |
- |
|
Amortization |
0.8 |
1.6 |
0.4 |
0.1 |
- |
|
Deferred Taxes |
0.5 |
1.7 |
-1.5 |
-0.2 |
- |
|
Unusual Items |
3.6 |
0.5 |
2.3 |
1.0 |
- |
|
Equity in Net Earnings (Loss) |
-6.7 |
-0.4 |
0.7 |
-0.3 |
- |
|
Other Non-Cash Items |
3.6 |
1.1 |
9.6 |
4.5 |
- |
|
Non-Cash Items |
0.5 |
1.3 |
12.5 |
5.1 |
- |
|
Accounts Receivable |
21.8 |
-17.6 |
-39.1 |
7.2 |
- |
|
Inventories |
26.1 |
2.9 |
-67.5 |
-8.4 |
- |
|
Prepaid Expenses |
0.3 |
2.8 |
-6.0 |
-1.3 |
- |
|
Other Assets |
1.5 |
0.5 |
-4.6 |
-2.2 |
- |
|
Accounts Payable |
-20.5 |
-13.9 |
45.9 |
7.8 |
- |
|
Accrued Expenses |
-0.8 |
-1.0 |
1.7 |
1.3 |
- |
|
Taxes Payable |
-1.0 |
-3.8 |
1.9 |
2.5 |
- |
|
Other Liabilities |
-11.2 |
-20.3 |
10.5 |
5.5 |
- |
|
Changes in Working Capital |
16.3 |
-50.3 |
-57.1 |
12.5 |
- |
|
Cash from Operating Activities |
30.4 |
-25.0 |
-26.3 |
28.2 |
- |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-42.5 |
-19.7 |
-72.2 |
-53.6 |
- |
|
Purchase/Acquisition of Intangibles |
- |
0.0 |
-1.5 |
-0.3 |
- |
|
Capital Expenditures |
-42.5 |
-19.8 |
-73.6 |
-53.9 |
- |
|
Sale of Fixed Assets |
12.7 |
0.3 |
0.6 |
0.2 |
- |
|
Sale/Maturity of Investment |
17.9 |
8.6 |
8.7 |
6.4 |
- |
|
Purchase of Investments |
-24.3 |
-13.2 |
-29.1 |
-12.3 |
- |
|
Other Investing Cash Flow |
0.0 |
-0.2 |
0.1 |
0.1 |
- |
|
Other Investing Cash Flow Items, Total |
6.3 |
-4.6 |
-19.7 |
-5.6 |
- |
|
Cash from Investing Activities |
-36.2 |
-24.3 |
-93.3 |
-59.5 |
- |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
0.8 |
1.8 |
0.6 |
1.2 |
- |
|
Financing Cash Flow Items |
0.8 |
1.8 |
0.6 |
1.2 |
- |
|
Total Cash Dividends Paid |
- |
-1.6 |
-1.4 |
-0.7 |
- |
|
Sale/Issuance of
Common |
1.2 |
0.7 |
- |
8.0 |
- |
|
Common Stock, Net |
1.2 |
0.7 |
- |
8.0 |
- |
|
Issuance (Retirement) of Stock, Net |
1.2 |
0.7 |
- |
8.0 |
- |
|
Short Term Debt Issued |
658.0 |
606.3 |
534.8 |
374.0 |
- |
|
Short Term Debt
Reduction |
-687.5 |
-557.3 |
-439.5 |
-415.3 |
- |
|
Short Term Debt, Net |
-29.5 |
48.9 |
95.3 |
-41.3 |
- |
|
Long Term Debt Issued |
76.6 |
11.0 |
49.9 |
69.4 |
- |
|
Long Term Debt
Reduction |
-43.9 |
-27.0 |
-20.4 |
-9.8 |
- |
|
Long Term Debt, Net |
32.8 |
-16.0 |
29.5 |
59.6 |
- |
|
Issuance (Retirement) of Debt, Net |
3.3 |
32.9 |
124.8 |
18.3 |
- |
|
Cash from Financing Activities |
5.3 |
33.7 |
124.0 |
26.8 |
- |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
2.2 |
4.4 |
-1.5 |
- |
|
Net Change in Cash |
-0.4 |
-13.4 |
8.7 |
-5.9 |
- |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
2.2 |
15.4 |
9.1 |
16.6 |
- |
|
Net Cash - Ending Balance |
1.8 |
2.0 |
17.8 |
10.8 |
- |
Interim Cash Flows
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
Annual Income Statement
As Reported
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Sales Revenue |
311.1 |
389.0 |
389.7 |
347.5 |
278.8 |
|
Total Revenue |
311.1 |
389.0 |
389.7 |
347.5 |
278.8 |
|
|
|
|
|
|
|
|
Cost of Revenue |
279.0 |
344.5 |
332.0 |
311.9 |
252.5 |
|
Salaries |
6.7 |
7.4 |
5.3 |
5.4 |
4.3 |
|
Retirement Allowance |
0.5 |
0.6 |
0.7 |
1.1 |
0.5 |
|
Employee Benefits |
1.1 |
1.4 |
1.0 |
0.8 |
0.5 |
|
Travel Expenses |
0.7 |
0.6 |
0.8 |
0.7 |
0.4 |
|
Communication Exp. |
0.3 |
0.3 |
0.4 |
0.3 |
0.3 |
|
Utility Expenses |
0.1 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Taxes and Dues |
0.7 |
0.6 |
0.7 |
0.1 |
0.1 |
|
Expenses-Consumable Goods |
0.4 |
0.3 |
1.1 |
0.4 |
0.3 |
|
Publishing & Printing Expenses |
0.5 |
0.6 |
0.6 |
0.5 |
0.4 |
|
Vehicles Expense |
0.6 |
0.5 |
0.5 |
0.6 |
0.5 |
|
Insurance Expenses |
0.5 |
0.3 |
0.4 |
0.3 |
0.2 |
|
Commissions Paid |
2.8 |
2.4 |
1.4 |
1.7 |
1.6 |
|
Shipping/Handling |
2.3 |
2.9 |
5.6 |
3.8 |
3.2 |
|
Entertainment |
0.7 |
0.7 |
0.8 |
0.9 |
0.8 |
|
Education & Training |
0.1 |
0.1 |
0.1 |
0.0 |
0.1 |
|
Exporting Expenses |
4.6 |
5.3 |
4.0 |
6.0 |
6.7 |
|
Provision-Bad Debt |
-0.1 |
0.2 |
0.2 |
- |
0.1 |
|
Advertising Expenses |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Depreciation Expense |
2.9 |
1.2 |
0.6 |
0.5 |
0.5 |
|
Amort of Intangibles |
0.6 |
1.2 |
0.4 |
0.1 |
0.0 |
|
Miscellaneous Operating Expense |
0.7 |
0.8 |
0.1 |
0.4 |
0.4 |
|
Rental Expenses |
- |
0.0 |
- |
- |
- |
|
Repair Expense |
0.0 |
0.0 |
- |
- |
- |
|
Warranty Expenses of Construction Contra |
0.0 |
- |
- |
- |
- |
|
Equipment Usage Fee |
0.0 |
- |
- |
- |
- |
|
Total Operating Expense |
305.8 |
372.0 |
356.5 |
335.4 |
273.5 |
|
|
|
|
|
|
|
|
Interest Income |
1.1 |
0.8 |
0.6 |
0.6 |
0.3 |
|
Gain on Disposal of Tangible Assets |
2.2 |
0.1 |
0.1 |
0.1 |
0.8 |
|
Gain on Derivatives Transactions |
0.3 |
0.7 |
- |
0.0 |
- |
|
Gain-Valuation of Derivatives |
- |
0.9 |
2.7 |
- |
0.0 |
|
Gain on Foreign Exchange Transaction |
3.8 |
3.8 |
4.8 |
1.3 |
1.2 |
|
Gain on Foreign Currency Translation |
0.4 |
0.9 |
0.2 |
0.0 |
0.9 |
|
Gains on Sale of Available for Sale Secu |
0.1 |
- |
- |
- |
- |
|
Gain-Bond Redemption |
- |
- |
- |
- |
0.1 |
|
Recovery of Loan Loss Reserve |
- |
- |
- |
0.1 |
- |
|
Miscellaneous Non-Operating Income |
2.8 |
1.8 |
0.3 |
0.8 |
0.5 |
|
Gain-Futures Transactions |
2.8 |
3.4 |
3.0 |
1.7 |
1.4 |
|
Rental Income |
0.0 |
- |
- |
- |
- |
|
Interest Expenses |
-16.0 |
-11.8 |
-7.2 |
-4.8 |
-4.6 |
|
L-Trade Rcv Disposal |
-0.7 |
-0.9 |
-0.8 |
-1.0 |
-0.7 |
|
Losses on Sale of Property, Plant and Eq |
-0.1 |
- |
-0.5 |
0.0 |
0.0 |
|
Loss on Foreign Exchange Transaction |
-2.5 |
-3.2 |
-6.1 |
-1.3 |
-1.6 |
|
Loss on Foreign Currency Translation |
-0.3 |
-0.2 |
-4.9 |
-0.2 |
0.0 |
|
Losses on Sale of Available for Sale Sec |
0.0 |
- |
- |
- |
- |
|
Losses on Derivative Transactions |
-0.7 |
- |
-1.1 |
-0.1 |
- |
|
Loss on Valuation of Derivatives |
-0.1 |
-0.3 |
-5.0 |
-0.6 |
-0.2 |
|
Loss-Land Revaluation |
- |
- |
-0.2 |
- |
- |
|
Losses on Valuation of Fixed Contracts |
-0.2 |
- |
- |
- |
- |
|
Losses on Sale of Equity Method Securiti |
-5.0 |
- |
- |
- |
- |
|
Contingency Loss, NEZ |
-0.3 |
- |
- |
- |
- |
|
Guarantee Fees Paid |
-0.5 |
-0.2 |
-0.9 |
-0.2 |
-0.1 |
|
Loss-Redemption of Debentures |
- |
- |
-0.9 |
- |
- |
|
Donations Paid |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Bad Debt Expense |
- |
- |
- |
- |
-0.1 |
|
Miscellaneous Non-Operating Expense |
-1.8 |
-2.3 |
-0.4 |
-0.7 |
-0.8 |
|
Gain-Disposal of Equity Method Sec. |
- |
0.3 |
- |
- |
- |
|
Gain under Equity Method |
6.7 |
0.4 |
0.5 |
0.3 |
0.3 |
|
Loss under Equity Method |
0.0 |
0.0 |
-1.1 |
0.0 |
- |
|
Net Income Before Taxes |
-2.7 |
11.1 |
16.2 |
8.1 |
2.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
1.9 |
2.7 |
5.2 |
3.4 |
1.4 |
|
Net Income After Taxes |
-4.6 |
8.4 |
11.0 |
4.7 |
1.2 |
|
|
|
|
|
|
|
|
Minority Interest Gain |
1.8 |
-0.2 |
-0.1 |
0.5 |
0.2 |
|
Net Income Before Extra. Items |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
Net Income |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
|
|
|
|
|
|
|
Income Available to Com Excl E |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
|
|
|
|
|
|
|
Income Available to Com Incl E |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
22.9 |
22.9 |
22.9 |
22.9 |
18.8 |
|
Basic EPS Excluding ExtraOrdin |
-0.12 |
0.36 |
0.48 |
0.22 |
0.08 |
|
Basic EPS Including ExtraOrdin |
-0.12 |
0.36 |
0.48 |
0.22 |
0.08 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Diluted Net Income |
-2.8 |
8.2 |
10.9 |
5.1 |
1.4 |
|
Diluted Weighted Average Share |
22.9 |
22.9 |
22.9 |
22.9 |
19.9 |
|
Diluted EPS Excluding ExtraOrd |
-0.12 |
0.36 |
0.48 |
0.22 |
0.07 |
|
Diluted EPS Including ExtraOrd |
-0.12 |
0.36 |
0.48 |
0.22 |
0.07 |
|
DPS-Common Stock |
0.00 |
0.00 |
0.08 |
0.07 |
0.05 |
|
Gross Dividends - Common Stock |
0.0 |
0.0 |
0.2 |
1.7 |
0.7 |
|
Normalized Income Before Taxes |
-3.5 |
13.2 |
17.4 |
9.1 |
2.5 |
|
|
|
|
|
|
|
|
Inc Tax Ex. Impact of Sp Items |
1.4 |
2.9 |
5.6 |
3.8 |
1.4 |
|
Normalized Income After Taxes |
-4.9 |
10.3 |
11.8 |
5.2 |
1.1 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
-3.2 |
10.1 |
11.7 |
5.7 |
1.4 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
-0.14 |
0.44 |
0.51 |
0.25 |
0.07 |
|
Diluted Normalized EPS |
-0.14 |
0.44 |
0.51 |
0.25 |
0.07 |
|
Interest Expense |
16.0 |
11.8 |
7.2 |
4.8 |
4.6 |
|
Rental Expense, Supplemental |
- |
0.0 |
- |
- |
- |
|
Advertising Expense |
0.2 |
0.2 |
0.1 |
0.1 |
0.1 |
|
Depreciation |
16.9 |
12.3 |
8.5 |
6.1 |
5.3 |
|
Amort of Goodwill, Supplemental |
0.6 |
1.2 |
- |
- |
- |
|
Amort of Intangibles, Suppleme |
0.2 |
0.4 |
0.4 |
0.1 |
0.0 |
Interim Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
Annual Balance Sheet
As Reported
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 |
Updated Normal |
Updated Normal |
Updated Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate |
1134.9 |
1164.475 |
1259.55 |
936.05 |
930 |
|
Auditor |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe Accounting
Corp. |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
Unqualified with
Explanation |
|
|
|
|
|
|
|
|
Cash and Equivalents |
1.9 |
2.2 |
15.6 |
10.7 |
16.6 |
|
ST Finl Assets |
11.8 |
8.1 |
2.0 |
4.6 |
1.3 |
|
Short-term Loans |
1.1 |
0.8 |
0.6 |
0.9 |
1.0 |
|
Allowance for Doubtful Accounts for Shor |
0.0 |
- |
- |
- |
- |
|
Trade Rcvbls,G |
72.3 |
89.2 |
57.0 |
36.0 |
44.1 |
|
Reserve for Doubtful Accounts |
-0.6 |
-0.7 |
-0.4 |
-0.3 |
-0.4 |
|
Other Receivables |
3.7 |
0.0 |
2.1 |
0.4 |
0.3 |
|
Allowance for Doubtful Accounts for Othe |
0.0 |
- |
- |
- |
- |
|
Advance Payments |
11.2 |
15.9 |
15.1 |
2.6 |
0.2 |
|
Allowance for Doubtful Accounts for Adva |
-0.2 |
- |
- |
- |
- |
|
Prepaid Expense |
1.8 |
1.1 |
0.5 |
0.8 |
0.8 |
|
Prepaid VAT |
7.0 |
6.8 |
8.2 |
4.7 |
2.0 |
|
Prepaid Tariffs |
0.3 |
1.0 |
1.0 |
0.6 |
1.2 |
|
Prepaid Taxes |
0.2 |
0.0 |
- |
- |
0.8 |
|
Derivatives |
0.0 |
1.3 |
2.4 |
- |
0.0 |
|
Miscellaneous Guarantee Deposit, Current |
1.3 |
- |
- |
- |
- |
|
Accrued Income |
0.9 |
0.7 |
0.2 |
0.3 |
0.1 |
|
Deferred Income Tax-Debit |
- |
0.2 |
1.3 |
0.1 |
- |
|
Work in Progress |
51.2 |
61.2 |
45.7 |
27.9 |
27.2 |
|
Stored Goods |
1.2 |
1.1 |
7.0 |
0.3 |
0.3 |
|
Raw Materials |
18.3 |
26.2 |
23.4 |
13.1 |
8.2 |
|
Total Current Assets |
183.2 |
215.3 |
181.5 |
102.8 |
103.8 |
|
|
|
|
|
|
|
|
LT Finl Assets |
9.7 |
6.3 |
5.6 |
4.0 |
3.0 |
|
Securities Available for Sale |
1.9 |
1.9 |
2.0 |
0.4 |
0.5 |
|
Investment Securities under Equity Metho |
8.5 |
4.1 |
18.1 |
2.7 |
1.0 |
|
Long-Term Security Deposits |
5.4 |
7.7 |
7.0 |
4.1 |
1.9 |
|
Land |
80.6 |
73.4 |
67.9 |
27.5 |
27.3 |
|
Buildings |
97.7 |
46.7 |
38.2 |
43.7 |
27.4 |
|
Buildings-Depreciation |
-7.7 |
-5.9 |
-3.7 |
-3.8 |
-3.0 |
|
Structures |
30.5 |
30.0 |
25.5 |
31.1 |
22.4 |
|
Structures-Depreciation |
-9.6 |
-8.5 |
-6.0 |
-6.6 |
-5.5 |
|
Tools/Equipments |
33.5 |
32.8 |
19.3 |
13.6 |
11.6 |
|
Tools & Equipments-Depreciation |
-19.3 |
-15.1 |
-8.5 |
-8.8 |
-7.6 |
|
Machinery/Equip. |
69.0 |
31.6 |
25.1 |
24.6 |
15.5 |
|
Machinery & Equipment-Depreciation |
-18.2 |
-13.8 |
-9.8 |
-12.4 |
-10.6 |
|
Vehicles & Transportation Equipment |
6.1 |
6.0 |
4.4 |
4.8 |
2.8 |
|
Vehicles & Transportation Equipment-Depr |
-3.6 |
-3.1 |
-2.0 |
-2.1 |
-2.4 |
|
Misc. Fixtures |
5.7 |
5.5 |
4.5 |
4.2 |
3.7 |
|
Fixtures-Depreciation |
-5.0 |
-4.2 |
-3.0 |
-3.4 |
-3.0 |
|
Installation Equipment |
0.8 |
- |
- |
- |
- |
|
Installation Equipment-Depreciation |
-0.1 |
- |
- |
- |
- |
|
Construc in Prog |
28.3 |
73.0 |
56.8 |
31.3 |
17.4 |
|
Assets in Recovery Expectation |
0.2 |
0.3 |
- |
- |
- |
|
Assets in Recovery Expect.-Depreciation |
-0.1 |
-0.1 |
- |
- |
- |
|
Deferred Income Tax-Debit |
- |
0.2 |
- |
1.9 |
1.8 |
|
Goodwill |
3.2 |
4.6 |
- |
- |
- |
|
Land Usufruct |
2.0 |
2.0 |
2.0 |
1.9 |
1.5 |
|
Other Intangible Assets |
1.2 |
1.2 |
0.6 |
0.1 |
0.1 |
|
Total Assets |
503.8 |
492.1 |
425.6 |
261.7 |
209.6 |
|
|
|
|
|
|
|
|
Trade Payable |
54.3 |
60.2 |
64.0 |
34.4 |
26.8 |
|
Accounts Payable |
5.5 |
5.6 |
4.8 |
6.0 |
5.5 |
|
Inc Tax Payable |
0.1 |
0.3 |
4.4 |
3.8 |
1.3 |
|
Security Deposit Withheld |
- |
0.0 |
- |
- |
- |
|
VAT Withheld |
0.2 |
0.5 |
- |
- |
- |
|
Tariffs Payable |
- |
0.0 |
0.1 |
0.0 |
0.1 |
|
Accrued Expenses |
2.5 |
2.9 |
4.2 |
3.7 |
2.4 |
|
Advance for Customers |
1.8 |
10.5 |
21.0 |
16.7 |
6.8 |
|
Unearned Income |
0.0 |
- |
- |
- |
- |
|
Deposit Withheld |
6.4 |
4.1 |
3.9 |
0.9 |
0.3 |
|
ST Borrowings |
128.7 |
167.5 |
92.7 |
12.7 |
54.0 |
|
Current Portion of Bonds with Warrant |
- |
- |
- |
9.0 |
- |
|
Current Portion of Long-Term Debts |
64.2 |
11.1 |
18.8 |
8.2 |
4.3 |
|
Current Portion of Bonds |
- |
8.6 |
- |
5.3 |
- |
|
Deferred Income Taxes Liabilities Curren |
0.2 |
- |
- |
0.3 |
0.1 |
|
Derivatives in Liabilities, Current |
0.2 |
1.6 |
4.4 |
0.6 |
0.2 |
|
Confirmed Contracts |
0.2 |
- |
- |
- |
- |
|
Total Current Liability |
264.4 |
272.8 |
218.4 |
101.7 |
101.7 |
|
|
|
|
|
|
|
|
Bonds |
9.7 |
8.6 |
7.9 |
10.7 |
5.4 |
|
LT Borrowings |
87.9 |
84.1 |
86.3 |
78.1 |
43.7 |
|
Discount on LT Borrowings |
-0.5 |
- |
- |
- |
- |
|
Discount on Bonds of Long-term Liabiliti |
0.0 |
- |
- |
- |
- |
|
Convertible Bonds |
15.0 |
- |
- |
- |
- |
|
Conversion Rights Adjustment for Bonds |
-2.3 |
- |
- |
- |
- |
|
Discount on Convertible Bonds of Longter |
-0.4 |
- |
- |
- |
- |
|
Yield to Maturity Premium on Convertible |
2.9 |
- |
- |
- |
- |
|
Total Long Term Debt |
112.3 |
92.7 |
94.3 |
88.8 |
49.0 |
|
|
|
|
|
|
|
|
Deferred Income Tax, Credit |
11.0 |
10.4 |
9.1 |
- |
- |
|
Long-term Provision for Restoration in L |
0.4 |
0.3 |
- |
- |
- |
|
Reserve for Severance and Retirement Ben |
10.6 |
8.7 |
6.2 |
9.7 |
11.4 |
|
Deposit-Retirement Insurance |
0.0 |
-3.7 |
- |
- |
- |
|
Transfer to National Pension Fund |
-0.1 |
-0.1 |
- |
- |
- |
|
Plan Assets |
-7.2 |
- |
- |
- |
- |
|
Minority Interest |
7.0 |
3.6 |
2.7 |
1.8 |
1.4 |
|
Total Liabilities |
398.3 |
384.7 |
330.7 |
202.0 |
163.5 |
|
|
|
|
|
|
|
|
Common Stock |
9.5 |
9.2 |
8.5 |
11.5 |
9.9 |
|
Consolidated Capital Surplus |
21.3 |
20.1 |
18.5 |
25.0 |
18.5 |
|
Consolidated Retained Earnings |
33.6 |
35.6 |
26.9 |
25.0 |
20.8 |
|
Capital Change, Equity Method |
3.4 |
5.5 |
2.2 |
0.0 |
0.0 |
|
Capital Change, Equity Method (Loss) |
-0.5 |
-0.2 |
- |
- |
- |
|
Treasury Stock |
-1.3 |
-1.2 |
-1.2 |
-1.6 |
-2.3 |
|
Gain-Land Revaluation |
40.2 |
40.1 |
37.0 |
- |
- |
|
Losses on Valuation of Available for Sal |
0.1 |
- |
- |
- |
- |
|
Overseas Business Translation Credit |
-0.8 |
-1.8 |
3.0 |
-0.2 |
-0.7 |
|
Total Equity |
105.5 |
107.3 |
94.9 |
59.7 |
46.1 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholde |
503.8 |
492.1 |
425.6 |
261.7 |
209.6 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
22.9 |
22.9 |
22.9 |
22.9 |
19.1 |
|
Total Common Shares Outstandin |
22.9 |
22.9 |
22.9 |
22.9 |
19.1 |
|
T/S-Common Stock |
0.7 |
0.7 |
0.7 |
0.7 |
1.0 |
|
Deferred Revenue, Current |
1.8 |
10.5 |
21.0 |
16.7 |
6.8 |
|
Full-Time Employees |
584 |
582 |
663 |
583 |
480 |
|
Number of Common Shareholders |
8,454 |
9,966 |
9,617 |
8,257 |
1,815 |
|
Long Term Debt Due in Year 1 |
64.2 |
30.4 |
3.9 |
8.2 |
- |
|
Long Term Debt Due in Year 2 |
67.1 |
33.3 |
3.5 |
16.7 |
- |
|
Long Term Debt Due in Year 3 |
30.7 |
29.3 |
1.6 |
14.9 |
- |
|
Long Term Debt Due in Year 4 |
- |
- |
0.3 |
23.2 |
- |
|
Long Term Debt Remaining |
14.8 |
19.3 |
0.6 |
23.3 |
- |
|
Total Long Term Debt, Supplemental |
176.8 |
112.4 |
9.9 |
86.3 |
- |
Interim Balance Sheet
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
Annual Cash Flows
As Reported
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-2005 |
|
Period Length |
12 Months |
12 Months |
12 Months |
12 Months |
12 Months |
|
UpdateType/Date |
Updated Normal |
Updated Normal |
Updated Normal |
Reclassified
Normal |
Updated Normal |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate (Period
Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
1024.149727 |
|
Auditor |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sungdoe
Accounting Corp. |
Sahmgyung
Accounting Corp. |
|
Auditor Opinion |
Unqualified with
Explanation |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
-4.6 |
8.4 |
11.0 |
4.7 |
1.1 |
|
Depreciation |
16.9 |
12.3 |
8.5 |
6.1 |
4.5 |
|
Amortization of Intangible Assets |
0.8 |
1.6 |
0.4 |
0.1 |
- |
|
Provision-Doubtful Account |
-0.1 |
0.2 |
0.2 |
- |
0.1 |
|
Bonus |
- |
0.2 |
- |
- |
- |
|
Amort-Other Bad Debt Exp |
- |
- |
- |
- |
0.1 |
|
Amortization of Discount on Bond Issuanc |
0.4 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Amort-Convertible Right Adjustment |
0.6 |
- |
- |
- |
- |
|
Amortization of Subscription Warrant Adj |
- |
- |
0.0 |
0.3 |
0.3 |
|
Provision for Retirement Allowances |
2.3 |
2.0 |
2.6 |
3.4 |
2.7 |
|
Loss on Foreign Currency Translation |
0.3 |
0.2 |
4.6 |
0.2 |
0.0 |
|
Loss-Land Revaluation |
- |
- |
0.2 |
- |
- |
|
Contingency Loss |
0.3 |
- |
- |
- |
- |
|
Loss-Redemption of Bond |
- |
- |
0.9 |
- |
- |
|
Loss on Disposal of Trade Receivable |
0.7 |
0.9 |
0.8 |
1.0 |
0.4 |
|
Losses on Sale of Available for Sale Sec |
0.0 |
- |
- |
- |
0.1 |
|
Losses on Sale of Property, Plant and Eq |
0.1 |
- |
0.5 |
0.0 |
0.0 |
|
Loss on Valuation of Derivatives |
0.1 |
0.3 |
5.0 |
0.6 |
- |
|
Losses on Sale of Equity Method Securiti |
5.0 |
- |
- |
- |
- |
|
Loss-Valuation of Contract on Settlement |
0.2 |
- |
- |
- |
- |
|
Loss under Equity Method |
0.0 |
0.0 |
1.1 |
0.0 |
1.3 |
|
Recovery of Provision for Doubtful Ac |
- |
- |
- |
-0.1 |
0.0 |
|
Gain-Derivatives Valuation |
- |
-0.9 |
-2.7 |
- |
- |
|
G-Tangible Asst Disp |
-2.2 |
-0.1 |
-0.1 |
-0.1 |
0.0 |
|
Gain under Equity Method |
-6.7 |
-0.4 |
-0.4 |
-0.3 |
-0.1 |
|
Gain on Sale of Equity Method Securiti |
- |
-0.3 |
- |
- |
- |
|
Gains on Sale of Available for Sale Secu |
-0.1 |
- |
- |
- |
- |
|
Gain on Foreign Currency Translation |
-0.3 |
-0.9 |
-0.2 |
0.0 |
-1.1 |
|
Increase in Trade Receivables |
23.7 |
-23.9 |
-36.1 |
7.4 |
-7.9 |
|
Account Receivable |
-1.7 |
6.8 |
-2.9 |
-0.1 |
- |
|
Increase in Accrued Income |
-0.1 |
-0.4 |
0.0 |
-0.2 |
0.2 |
|
Guarantee Deposit |
2.8 |
0.5 |
-4.6 |
-2.2 |
- |
|
Increase in Advanced Payments |
5.6 |
6.0 |
-15.7 |
-2.5 |
-0.3 |
|
Increase in Prepaid Expense |
-0.7 |
0.6 |
0.1 |
0.0 |
0.3 |
|
Increase in Prepaid Value Added Taxe |
0.5 |
-0.4 |
-5.4 |
-1.9 |
-1.0 |
|
Decrease or Increase in Prepaid Income T |
-0.1 |
- |
- |
- |
- |
|
Increase in Inventories |
20.5 |
-3.1 |
-51.8 |
-5.9 |
-13.6 |
|
Tariff Advance Payment |
0.7 |
2.6 |
-0.6 |
0.6 |
-0.9 |
|
Deferred Income Tax Credit, A/L |
0.5 |
0.6 |
0.0 |
- |
- |
|
Deferred Taxes-Asset |
0.0 |
1.2 |
-1.5 |
-0.2 |
-0.3 |
|
Other Guarantee Deposit |
-1.3 |
- |
- |
- |
- |
|
Trade Payables |
-18.6 |
-8.4 |
44.6 |
7.3 |
7.4 |
|
Account Payables |
-1.9 |
-5.5 |
1.3 |
0.6 |
1.6 |
|
Accrued Expenses |
-0.8 |
-1.0 |
1.7 |
1.3 |
0.2 |
|
Accrued Inc Tax |
-0.2 |
-4.1 |
1.8 |
2.5 |
0.3 |
|
Increase in Tariffs Payable |
0.0 |
0.3 |
0.1 |
0.0 |
- |
|
Deposit-Retirement Insurance |
0.0 |
2.3 |
-0.3 |
-0.2 |
- |
|
VAT Withheld |
-0.7 |
- |
- |
- |
- |
|
Security Deposit Withheld |
0.0 |
- |
- |
- |
- |
|
Advances Received |
-9.0 |
-16.5 |
10.4 |
10.0 |
10.0 |
|
Increase or Decrease in Unearned Income |
0.0 |
- |
- |
- |
- |
|
Deposits Withheld |
2.1 |
-0.1 |
3.7 |
0.6 |
0.0 |
|
Increase in Reserve for National Pen |
0.0 |
0.0 |
0.1 |
0.2 |
0.1 |
|
Retirement Pension Operating Fund |
-3.3 |
-3.4 |
- |
- |
- |
|
Payment-Retirement Bonus |
-1.0 |
-2.7 |
-3.4 |
-5.0 |
-1.6 |
|
Cash From Operating Activities |
30.4 |
-25.0 |
-26.3 |
28.2 |
3.9 |
|
|
|
|
|
|
|
|
Dec-ST Loans |
0.9 |
0.8 |
0.8 |
1.0 |
0.7 |
|
Dec-Account Rcvbls |
- |
- |
- |
- |
8.7 |
|
Dec-Guarantee Dep |
- |
- |
- |
- |
0.0 |
|
Dec-Retire Insurance |
- |
- |
- |
- |
0.3 |
|
Decrease in Short-Term Financial Asse |
10.8 |
3.9 |
4.8 |
1.6 |
5.1 |
|
Proceeds from Sale of Long-term Financia |
0.1 |
- |
4.0 |
4.5 |
0.6 |
|
Decrease in Derivatives Assets |
1.3 |
1.4 |
- |
0.0 |
- |
|
Disposal of Securities Available for |
0.3 |
0.9 |
0.0 |
0.1 |
0.1 |
|
Disposal of Securities under Equity M |
5.4 |
2.4 |
- |
0.2 |
0.0 |
|
Disposal-Land |
3.4 |
0.1 |
0.1 |
- |
0.0 |
|
Disposal-Buildings |
0.5 |
0.1 |
0.1 |
- |
0.0 |
|
Proceeds from Sale of Structures |
0.1 |
- |
0.3 |
- |
- |
|
Proceeds from Sale of Machinery |
0.0 |
- |
0.1 |
- |
0.0 |
|
Disp-Vehicles |
0.1 |
0.0 |
0.0 |
0.1 |
0.0 |
|
Disp-Tools/Equipmt |
0.8 |
0.1 |
- |
0.0 |
0.1 |
|
Disp-Fixtures |
- |
0.0 |
0.0 |
0.0 |
- |
|
Disposal-Installation Equipment |
0.2 |
- |
- |
- |
- |
|
Proceeds from Sale of Ships |
7.7 |
- |
- |
- |
- |
|
Inc-ST Loans |
-1.1 |
-1.0 |
-0.7 |
-0.9 |
-0.9 |
|
Inc-Account Rcvbls |
- |
- |
- |
- |
-8.5 |
|
Inc-Guarantee Dep |
- |
- |
- |
- |
-0.3 |
|
Inc-Retire Insurance |
- |
- |
- |
- |
-0.6 |
|
Retirement Pension Operating Fund, IP |
0.2 |
- |
- |
- |
- |
|
Increase in Short-Term Financial Asse |
-6.9 |
-2.5 |
-3.1 |
-0.3 |
-1.0 |
|
Increase in Long-Term Financial Asset |
-10.3 |
-7.1 |
-7.0 |
-10.2 |
-2.0 |
|
Decrease in Derivatives Liabilities |
-1.6 |
-2.5 |
-0.5 |
-0.2 |
- |
|
Increase in Securities Available for |
0.0 |
-0.6 |
-1.9 |
0.0 |
-0.1 |
|
Increase in Securities under Equity M |
-5.5 |
-0.4 |
-16.6 |
-1.6 |
-3.9 |
|
Increase in Land |
- |
- |
0.0 |
0.0 |
-0.6 |
|
Increase in Buildings |
-0.1 |
-0.5 |
-6.2 |
-0.3 |
-0.1 |
|
Increase in Structure |
-0.4 |
-0.4 |
-3.6 |
-0.6 |
-0.5 |
|
Acq-Machinery |
-13.4 |
-1.4 |
-9.0 |
-0.6 |
-0.7 |
|
Acquisition of Miscellaneous Fixtures |
-0.2 |
-0.3 |
-1.7 |
-0.6 |
- |
|
Acq-Fixtures |
- |
- |
- |
- |
-0.6 |
|
Increase in Transportation |
-0.5 |
-0.4 |
-1.0 |
-0.1 |
0.0 |
|
Acquisition of Tools |
-3.2 |
-5.7 |
-8.7 |
-1.6 |
-0.6 |
|
Increase in Construction in Progress |
-24.6 |
-11.1 |
-42.0 |
-49.8 |
-6.6 |
|
Increase-Installation Equipments |
0.0 |
- |
- |
- |
- |
|
Purchase of Ships |
0.0 |
- |
- |
- |
- |
|
Increase in Intangible Assets |
- |
0.0 |
-1.5 |
-0.3 |
- |
|
Cash From Investing Activities |
-36.2 |
-24.3 |
-93.3 |
-59.5 |
-11.2 |
|
|
|
|
|
|
|
|
Inc-ST Borrowings |
658.0 |
606.3 |
534.8 |
374.0 |
259.1 |
|
Issuance-Bond with Warrant, Current |
- |
- |
- |
9.9 |
- |
|
Redemption-Bond with Warrant, Current |
- |
- |
-8.6 |
- |
- |
|
Redemption of Short-Term Borrowings |
-687.5 |
-557.3 |
-439.5 |
-415.3 |
-258.1 |
|
Disposal of Treasury Stock |
- |
- |
- |
3.6 |
- |
|
Increase-Common Stock |
1.2 |
0.7 |
- |
4.5 |
0.6 |
|
Inc-LT Borrowing |
61.5 |
3.1 |
49.9 |
48.7 |
7.9 |
|
Issuance-Bond with Warrant |
- |
- |
- |
- |
0.0 |
|
Increase-Convertible Bond |
14.2 |
- |
- |
- |
- |
|
Increase in Bonds |
0.9 |
7.8 |
- |
10.8 |
4.9 |
|
Decrease of Current Portion of LT Lia |
-14.3 |
-11.1 |
-7.0 |
-4.3 |
-1.2 |
|
Decrease of Current Portion of Bonds |
-8.6 |
- |
-4.5 |
- |
-4.9 |
|
Dec-LT Borrowings |
-20.9 |
-15.9 |
-0.3 |
-5.5 |
- |
|
Expense for Bond Issuance |
- |
- |
- |
-0.3 |
0.0 |
|
Decrease in Overseas Business Currenc |
- |
- |
- |
0.5 |
- |
|
Cash Inflow from Consolidated Capital |
0.8 |
1.8 |
0.6 |
1.0 |
- |
|
Payment-Dividends |
- |
-1.6 |
-1.4 |
-0.7 |
-0.8 |
|
Cash Inflow-Merger |
0.0 |
- |
- |
- |
- |
|
Increase-Debenture Issuance Discount |
- |
0.0 |
- |
- |
- |
|
Cash From Financing Activities |
5.3 |
33.7 |
124.0 |
26.8 |
7.4 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
0.0 |
2.2 |
4.4 |
-1.5 |
- |
|
Net Change in Cash |
-0.4 |
-13.4 |
8.7 |
-5.9 |
0.0 |
|
|
|
|
|
|
|
|
Net Cash Beginning Balance |
2.2 |
15.4 |
9.1 |
16.6 |
0.2 |
|
Net Cash Ending Balance |
1.8 |
2.0 |
17.8 |
10.8 |
0.2 |
Interim Cash Flows
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.