MIRA INFORM REPORT
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Report Date : |
13.10.2011 |
IDENTIFICATION DETAILS
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Name : |
HANSOL TECHNICS CO LTD |
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Formerly Known As : |
Hansol LCD Inc |
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Registered Office : |
736-1, Yeoksam-Dong, Gangnam-Gu, Seoul, 135-080 |
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Country : |
South korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
20.08.1966 |
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Legal Form : |
Public Independent Company |
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Line of Business : |
Design, Development, Production and sale
of electronic components |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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
Hansol Technics Co Ltd
736-1, Yeoksam-Dong
Gangnam-Gu
Seoul, 135-080
Korea, Republic of
Tel: 82-2-32877902
Fax: 82-2-20560970
Synthesis
Employees: 1,595
Company Type: Public Independent
Traded: Korea Stock Exchange: 004710
Incorporation Date:
20-Aug-1966
Auditor: PricewaterhouseCoopers LLP
Financials in: USD
(Millions)
Fiscal Year End:
31-Dec-2010
Reporting Currency: South
Korean Won
Annual Sales: 1,611.9 1
Net Income: 8.8
Total Assets: 352.8 2
Market Value: 137.5
(30-Sep-2011)
Business Description
Hansol Technics
Co., LTD. is a Korea-based company that is engaged in the design, development,
production and sale of electronic components. The Company focuses on the
manufacture of backlight units (BLUs) for thin film transistor-liquid crystal
displays (TFT-LCDs), which are used for televisions and laptops. The Company is
also involved in the manufacture of inverters used in TFT-LCD panels. On
December 28, 2010, the Company changed its name to Hansol Technics Co., LTD.
from Hansol LCD Inc. On January 13, 2011, the Company merged with CRYSTALON.
Through the merger, it is also engaged in manufacturing of wafers for LCDs. For
the fiscal year ended 31 December 2010, HansolTechnics's total revenues
increased 29% to W1.864T. Net income decreased 32% to W10.16B. Revenues reflect
higher domestic and foreign demand for BLU. Net income was offset by increased
interest expenses, increased loss on foreign exchange transaction, increased
loss on foreign currency translation, increased loss on disposal of tangible
assets and inclusion of loss under equity method.
Industry
Industry Electronic Instruments and Controls
ANZSIC 2006: 2429 - Other
Electronic Equipment Manufacturing
NACE 2002: 3210 - Manufacture
of electronic valves and tubes and other electronic components
NAICS 2002: 334419 - Other
Electronic Component Manufacturing
UK SIC 2003: 3210 - Manufacture
of electronic valves and tubes and other electronic components
US SIC 1987: 3679 - Electronic
Components, Not Elsewhere Classified
Key Executives
|
Name |
Title |
|
Chi Wu Kim |
President, Chief Executive Officer,
Director |
|
Jong Hae Lee |
Internal Auditor |
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Chi Woo Kim |
Chief Executive Officer |
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Yeong Min Lee |
Auditor |
|
Yong Hwa Kim |
Co-Managing Director |
Significant Developments
|
Topic |
#* |
Most Recent
Headline |
Date |
|
Mergers / Acquisitions |
1 |
Hansol LCD Inc. to Merge with CRYSTALON |
29-Oct-2010 |
|
Products |
2 |
Hansol LCD Inc. to Invest KRW 10.9 Billion
in Solar Ingot and Wafer |
14-Feb-2011 |
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Equity Investments |
2 |
Hansol Technics Co., Ltd Announces Changes
in Shareholding Structure |
7-Oct-2011 |
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Dividends |
1 |
Hansol LCD Inc. Declares Annual Cash
Dividend for FY 2010 |
10-Feb-2011 |
* number of significant developments within the last 12 months
Financial summary
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As of 31-Dec-2010 |
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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
736-1, Yeoksam-Dong
Gangnam-Gu
Seoul, 135-080
Korea, Republic of
Tel: 82-2-32877902
Fax: 82-2-20560970
Quote Symbol - Exchange
004710 - Korea
Stock Exchange
Sales KRW(mil): 1,863,835.5
Assets KRW(mil): 400,444.2
Employees: 1,595
Fiscal Year End: 31-Dec-2010
Industry: Electronic Instruments and Controls
Incorporation Date: 20-Aug-1966
Company Type: Public Independent
Quoted Status: Quoted
Previous Name: Hansol LCD Inc
President,
Chief Executive Officer, Director: Chi
Wu Kim
Company Web Links
Corporate History/Profile
Home Page
Products/Services
Contents
Industry Codes
Business Description
Financial Data
Market Data
Key Corporate Relationships
Industry Codes
ANZSIC 2006 Codes:
2429 - Other Electronic Equipment Manufacturing
NACE 2002 Codes:
3210 - Manufacture of electronic valves and tubes and other
electronic components
NAICS 2002 Codes:
334413 - Semiconductor and Related Device Manufacturing
334411 - Electron Tube Manufacturing
334419 - Other Electronic Component Manufacturing
US SIC 1987:
3671 - Electron Tubes
3674 - Semiconductors and Related Devices
3679 - Electronic Components, Not Elsewhere Classified
UK SIC 2003:
3210 - Manufacture of electronic valves and tubes and other
electronic components
Business
Description
Hansol Technics
Co., LTD. is a Korea-based company that is engaged in the design, development,
production and sale of electronic components. The Company focuses on the
manufacture of backlight units (BLUs) for thin film transistor-liquid crystal
displays (TFT-LCDs), which are used for televisions and laptops. The Company is
also involved in the manufacture of inverters used in TFT-LCD panels. On
December 28, 2010, the Company changed its name to Hansol Technics Co., LTD.
from Hansol LCD Inc. On January 13, 2011, the Company merged with CRYSTALON.
Through the merger, it is also engaged in manufacturing of wafers for LCDs. For
the fiscal year ended 31 December 2010, HansolTechnics's total revenues
increased 29% to W1.864T. Net income decreased 32% to W10.16B. Revenues reflect
higher domestic and foreign demand for BLU. Net income was offset by increased
interest expenses, increased loss on foreign exchange transaction, increased
loss on foreign currency translation, increased loss on disposal of tangible
assets and inclusion of loss under equity method.
More Business
Descriptions
Manufacture of LCD computer monitors
All Other Electrical Equipment and Component Manufacturing
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Executive report
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Board of
Directors |
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Non-Executive Independent Director |
Director/Board Member |
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President, Chief Executive Officer, Director |
Director/Board Member |
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Vice President, Director |
Director/Board Member |
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Assistant Managing Director |
Director/Board Member |
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Executives |
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Chief Executive Officer |
Chief Executive Officer |
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President, Chief Executive Officer, Director |
Chief Executive Officer |
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Co-Managing Director |
Managing Director |
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Assistant Managing Director |
Managing Director |
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Auditor |
Finance Executive |
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Internal Auditor |
Accounting Executive |
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Significant Developments
Hansol Technics Co., Ltd Announces Changes in Shareholding Structure Oct 07, 2011
Hansol Technics Co., Ltd announced that National Pension Service and its related party have acquired a combined total of 405,861 shares of the Company, which is representing a 4.74% stake in the Company.
Hansol LCD Inc. to Invest KRW 10.9 Billion in Solar Ingot and Wafer Feb 14, 2011
Hansol LCD Inc. announced that it will invest KRW 5.7 billion in solar ingot and wafer during the period of February 14, 2011 to October 31, 2011.
Hansol LCD Inc. Declares Annual Cash Dividend for FY 2010 Feb 10, 2011
Hansol LCD Inc. announced that it has declared an annual cash dividend of KRW 250 per share of common stock to shareholders of record on December 31, 2010 for the fiscal year 2010. The dividend rate of market price is 0.42% and the total amount of the cash dividend is KRW 1,828,885,750. The dividend is expected to be paid on April 22, 2011.
Hansol LCD Inc. Announces Changes in Shareholding Structure Jan 10, 2011
Hansol LCD Inc. announced that National Pension Service has acquired 520,854 shares of the Company, representing a 6.82% stake.
Hansol LCD Inc. to Invest KRW 5.7 Billion in Solar Ingot and Wafer Dec 22, 2010
Hansol LCD Inc. announced that it will invest KRW 5.7 billion in solar ingot and wafer during the period of December 23, 2010 to June 30, 2011.
Hansol LCD Inc. to Merge with CRYSTALON Oct 29, 2010
Hansol LCD Inc. announced that it has signed a statutory merger agreement with CRYSTALON, which is mainly engaged in the manufacturing of wafer for light emitting diode, to create synergy. The merger ratio of Hansol LCD and CRYSTALON is 1 : 1.6140972 and 927,875 common shares will be issued with the merger. The expected merger effective date is January 13, 2011. After the merger, Hansol LCD will survive and CRYSTALON will be dissolved.
Annual
Income Statement
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
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|
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 |
|
Filed Currency |
KRW |
KRW |
KRW |
KRW |
KRW |
|
Exchange Rate
(Period Average) |
1156.281981 |
1276.385219 |
1100.562842 |
929.183333 |
955.035724 |
|
Auditor |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
KPMG LLP |
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Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
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Net Sales |
1,607.4 |
1,134.2 |
1,134.3 |
807.8 |
930.3 |
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Revenue |
1,607.4 |
1,134.2 |
1,134.3 |
807.8 |
930.3 |
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Other Revenue |
4.6 |
- |
- |
- |
- |
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Other Revenue, Total |
4.6 |
- |
- |
- |
- |
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Total Revenue |
1,611.9 |
1,134.2 |
1,134.3 |
807.8 |
930.3 |
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Cost of Revenue |
1,541.1 |
1,076.7 |
1,058.8 |
756.0 |
853.5 |
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Cost of Revenue, Total |
1,541.1 |
1,076.7 |
1,058.8 |
756.0 |
853.5 |
|
Gross Profit |
66.3 |
57.4 |
75.5 |
51.8 |
76.7 |
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Selling/General/Administrative Expense |
18.3 |
11.2 |
15.6 |
10.5 |
12.7 |
|
Labor & Related Expense |
17.7 |
12.8 |
15.6 |
12.2 |
11.9 |
|
Advertising Expense |
0.5 |
0.5 |
0.7 |
0.2 |
0.2 |
|
Total Selling/General/Administrative Expenses |
36.4 |
24.5 |
31.9 |
22.9 |
24.8 |
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Research & Development |
11.0 |
11.9 |
20.9 |
8.8 |
7.6 |
|
Depreciation |
1.1 |
1.0 |
1.2 |
1.2 |
0.7 |
|
Amortization of Intangibles |
0.4 |
- |
0.7 |
- |
- |
|
Depreciation/Amortization |
1.5 |
1.0 |
1.9 |
1.2 |
0.7 |
|
Total Operating Expense |
1,590.0 |
1,114.1 |
1,113.5 |
788.9 |
886.5 |
|
|
|
|
|
|
|
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Operating Income |
21.9 |
20.1 |
20.8 |
18.9 |
43.7 |
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|
|
|
|
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Interest Expense -
Non-Operating |
-1.8 |
-1.2 |
-5.1 |
-3.5 |
-0.6 |
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Interest Expense, Net Non-Operating |
-1.8 |
-1.2 |
-5.1 |
-3.5 |
-0.6 |
|
Interest Income -
Non-Operating |
0.6 |
0.6 |
0.9 |
0.1 |
0.1 |
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Investment Income -
Non-Operating |
-7.1 |
-4.5 |
-12.4 |
-3.7 |
-0.8 |
|
Interest/Investment Income - Non-Operating |
-6.5 |
-3.9 |
-11.4 |
-3.6 |
-0.7 |
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Interest Income (Expense) - Net Non-Operating Total |
-8.3 |
-5.2 |
-16.5 |
-7.1 |
-1.3 |
|
Gain (Loss) on Sale of Assets |
-2.0 |
-2.9 |
-0.8 |
-0.2 |
-2.6 |
|
Other Non-Operating Income (Expense) |
5.0 |
5.9 |
-0.1 |
3.6 |
-0.2 |
|
Other, Net |
5.0 |
5.9 |
-0.1 |
3.6 |
-0.2 |
|
Income Before Tax |
16.6 |
17.9 |
3.4 |
15.2 |
39.6 |
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|
|
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Total Income Tax |
5.8 |
1.9 |
2.8 |
4.9 |
-2.5 |
|
Income After Tax |
10.9 |
15.9 |
0.6 |
10.3 |
42.0 |
|
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|
|
|
|
|
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Minority Interest |
-0.5 |
-4.3 |
2.0 |
- |
- |
|
Equity In Affiliates |
-1.6 |
- |
3.2 |
- |
- |
|
Net Income Before Extraord Items |
8.8 |
11.6 |
5.8 |
10.3 |
42.0 |
|
Discontinued Operations |
- |
5.0 |
- |
-0.4 |
- |
|
Total Extraord Items |
- |
5.0 |
- |
-0.4 |
- |
|
Net Income |
8.8 |
16.6 |
5.8 |
9.9 |
42.0 |
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Income Available to Common Excl Extraord Items |
8.8 |
11.6 |
5.8 |
10.3 |
42.0 |
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Income Available to Common Incl Extraord Items |
8.8 |
16.6 |
5.8 |
9.9 |
42.0 |
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Basic/Primary Weighted Average Shares |
6.9 |
6.7 |
6.8 |
6.9 |
6.9 |
|
Basic EPS Excl Extraord Items |
1.27 |
1.73 |
0.85 |
1.50 |
6.13 |
|
Basic/Primary EPS Incl Extraord Items |
1.27 |
2.47 |
0.85 |
1.45 |
6.13 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
8.8 |
16.6 |
5.8 |
9.9 |
42.0 |
|
Diluted Weighted Average Shares |
6.9 |
6.7 |
6.8 |
6.9 |
6.9 |
|
Diluted EPS Excl Extraord Items |
1.27 |
1.73 |
0.85 |
1.50 |
6.13 |
|
Diluted EPS Incl Extraord Items |
1.27 |
2.47 |
0.85 |
1.45 |
6.13 |
|
Dividends per Share - Common Stock Primary Issue |
0.22 |
0.18 |
0.21 |
0.25 |
0.48 |
|
Gross Dividends - Common Stock |
1.6 |
1.2 |
1.4 |
1.7 |
3.3 |
|
Interest Expense, Supplemental |
1.8 |
1.2 |
5.1 |
3.5 |
0.6 |
|
Depreciation, Supplemental |
11.2 |
10.8 |
13.3 |
10.4 |
6.9 |
|
Total Special Items |
2.1 |
3.7 |
0.8 |
0.2 |
2.6 |
|
Normalized Income Before Tax |
18.8 |
21.5 |
4.2 |
15.4 |
42.1 |
|
|
|
|
|
|
|
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Effect of Special Items on Income Taxes |
0.7 |
0.3 |
0.3 |
0.1 |
0.9 |
|
Inc Tax Ex Impact of Sp Items |
6.4 |
2.2 |
3.1 |
4.9 |
-1.6 |
|
Normalized Income After Tax |
12.3 |
19.3 |
1.1 |
10.4 |
43.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
10.2 |
15.0 |
6.3 |
10.4 |
43.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.48 |
2.23 |
0.93 |
1.52 |
6.38 |
|
Diluted Normalized EPS |
1.48 |
2.23 |
0.93 |
1.52 |
6.38 |
|
Amort of Acquisition Costs, Supplemental |
0.1 |
0.7 |
- |
- |
- |
|
Amort of Intangibles, Supplemental |
0.5 |
0.1 |
0.1 |
0.4 |
0.0 |
|
Rental Expenses |
1.2 |
1.0 |
1.3 |
0.9 |
0.7 |
|
Advertising Expense, Supplemental |
0.5 |
0.5 |
0.7 |
0.2 |
0.2 |
|
Research & Development Exp, Supplemental |
11.0 |
11.9 |
20.9 |
8.8 |
7.6 |
|
Normalized EBIT |
21.9 |
20.1 |
20.8 |
18.9 |
43.7 |
|
Normalized EBITDA |
33.8 |
31.7 |
34.2 |
29.7 |
50.6 |
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 |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash & Equivalents |
7.0 |
21.7 |
11.3 |
0.7 |
0.4 |
|
Short Term Investments |
0.0 |
- |
7.9 |
0.0 |
0.0 |
|
Cash and Short Term Investments |
7.0 |
21.7 |
19.2 |
0.7 |
0.4 |
|
Accounts Receivable -
Trade, Gross |
95.9 |
46.6 |
32.7 |
53.9 |
33.0 |
|
Provision for Doubtful
Accounts |
-0.2 |
-0.1 |
-0.1 |
-0.2 |
-0.2 |
|
Trade Accounts Receivable - Net |
95.8 |
46.5 |
32.6 |
53.8 |
32.9 |
|
Other Receivables |
10.1 |
8.0 |
3.7 |
7.6 |
4.3 |
|
Total Receivables, Net |
105.9 |
54.4 |
36.4 |
61.3 |
37.1 |
|
Inventories - Finished Goods |
17.2 |
17.0 |
11.1 |
13.4 |
6.2 |
|
Inventories - Work In Progress |
5.5 |
1.0 |
1.6 |
1.5 |
2.0 |
|
Inventories - Raw Materials |
37.5 |
13.5 |
11.8 |
10.5 |
9.6 |
|
Inventories - Other |
5.2 |
0.2 |
0.2 |
1.3 |
2.1 |
|
Total Inventory |
65.3 |
31.8 |
24.6 |
26.7 |
20.0 |
|
Prepaid Expenses |
0.8 |
0.3 |
0.1 |
0.7 |
0.5 |
|
Deferred Income Tax - Current Asset |
1.1 |
0.7 |
1.4 |
0.1 |
1.0 |
|
Other Current Assets |
0.4 |
0.2 |
0.4 |
0.0 |
- |
|
Other Current Assets, Total |
1.5 |
0.9 |
1.8 |
0.1 |
1.0 |
|
Total Current Assets |
180.6 |
109.1 |
82.1 |
89.5 |
59.0 |
|
|
|
|
|
|
|
|
Buildings |
102.9 |
102.4 |
97.3 |
108.1 |
75.7 |
|
Land/Improvements |
17.9 |
14.0 |
13.0 |
15.3 |
15.0 |
|
Machinery/Equipment |
67.4 |
50.5 |
71.2 |
57.3 |
32.1 |
|
Construction in
Progress |
22.9 |
1.5 |
2.9 |
1.7 |
38.6 |
|
Other
Property/Plant/Equipment |
4.4 |
3.9 |
2.5 |
- |
- |
|
Property/Plant/Equipment - Gross |
215.6 |
172.3 |
187.0 |
182.5 |
161.5 |
|
Accumulated Depreciation |
-66.2 |
-56.4 |
-46.6 |
-41.5 |
-32.9 |
|
Property/Plant/Equipment - Net |
149.3 |
115.9 |
140.4 |
141.0 |
128.6 |
|
Goodwill, Net |
5.0 |
- |
2.8 |
- |
- |
|
Intangibles, Net |
4.4 |
0.5 |
0.6 |
- |
- |
|
LT Investment - Affiliate Companies |
8.3 |
9.0 |
- |
1.8 |
4.6 |
|
LT Investments - Other |
0.4 |
0.4 |
0.5 |
2.5 |
0.5 |
|
Long Term Investments |
8.7 |
9.4 |
0.5 |
4.3 |
5.0 |
|
Note Receivable - Long Term |
0.0 |
0.0 |
0.5 |
1.8 |
0.2 |
|
Deferred Income Tax - Long Term Asset |
1.9 |
3.1 |
4.6 |
3.1 |
4.8 |
|
Other Long Term Assets |
2.9 |
1.8 |
1.7 |
6.9 |
5.6 |
|
Other Long Term Assets, Total |
4.8 |
4.9 |
6.3 |
10.0 |
10.3 |
|
Total Assets |
352.8 |
239.8 |
233.1 |
246.6 |
203.2 |
|
|
|
|
|
|
|
|
Accounts Payable |
109.7 |
71.2 |
47.5 |
68.0 |
45.5 |
|
Accrued Expenses |
3.7 |
2.5 |
1.2 |
1.2 |
1.6 |
|
Notes Payable/Short Term Debt |
15.7 |
13.0 |
23.5 |
38.0 |
20.6 |
|
Current Portion - Long Term Debt/Capital Leases |
4.0 |
7.2 |
11.4 |
1.4 |
1.6 |
|
Customer Advances |
0.0 |
0.0 |
0.0 |
0.1 |
0.2 |
|
Security Deposits |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Income Taxes Payable |
2.7 |
1.6 |
3.6 |
1.3 |
- |
|
Other Payables |
10.3 |
8.4 |
15.4 |
6.7 |
10.2 |
|
Other Current Liabilities |
3.6 |
3.8 |
3.9 |
1.0 |
1.1 |
|
Other Current liabilities, Total |
16.7 |
13.8 |
23.0 |
9.1 |
11.7 |
|
Total Current Liabilities |
149.8 |
107.7 |
106.5 |
117.8 |
80.9 |
|
|
|
|
|
|
|
|
Long Term Debt |
17.4 |
11.5 |
27.5 |
3.7 |
2.5 |
|
Capital Lease Obligations |
5.5 |
- |
- |
- |
- |
|
Total Long Term Debt |
22.9 |
11.5 |
27.5 |
3.7 |
2.5 |
|
Total Debt |
42.6 |
31.7 |
62.3 |
43.2 |
24.7 |
|
|
|
|
|
|
|
|
Minority Interest |
13.1 |
0.8 |
2.8 |
- |
- |
|
Reserves |
0.1 |
0.2 |
0.3 |
0.6 |
2.2 |
|
Pension Benefits - Underfunded |
13.1 |
11.5 |
9.7 |
9.6 |
9.6 |
|
Other Long Term Liabilities |
0.0 |
- |
- |
- |
- |
|
Other Liabilities, Total |
13.3 |
11.7 |
10.0 |
10.2 |
11.8 |
|
Total Liabilities |
199.1 |
131.7 |
146.8 |
131.6 |
95.2 |
|
|
|
|
|
|
|
|
Common Stock |
33.7 |
27.2 |
25.1 |
33.8 |
34.0 |
|
Common Stock |
33.7 |
27.2 |
25.1 |
33.8 |
34.0 |
|
Additional Paid-In Capital |
42.1 |
12.8 |
11.8 |
17.3 |
17.5 |
|
Retained Earnings (Accumulated Deficit) |
79.9 |
70.5 |
49.6 |
61.3 |
55.2 |
|
Treasury Stock - Common |
-4.5 |
-4.1 |
-3.7 |
0.0 |
0.0 |
|
Unrealized Gain (Loss) |
-0.7 |
0.0 |
- |
- |
- |
|
Translation Adjustment |
3.2 |
1.8 |
3.6 |
2.5 |
1.3 |
|
Other Equity, Total |
3.2 |
1.8 |
3.6 |
2.5 |
1.3 |
|
Total Equity |
153.8 |
108.2 |
86.4 |
115.0 |
108.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders’ Equity |
352.8 |
239.8 |
233.1 |
246.6 |
203.2 |
|
|
|
|
|
|
|
|
Shares Outstanding - Common Stock Primary
Issue |
7.3 |
6.5 |
6.5 |
6.9 |
6.9 |
|
Total Common Shares Outstanding |
7.3 |
6.5 |
6.5 |
6.9 |
6.9 |
|
Treasury Shares - Common Stock Primary Issue |
0.3 |
0.3 |
0.3 |
0.0 |
0.0 |
|
Employees |
1,595 |
1,325 |
1,273 |
1,194 |
1,872 |
|
Number of Common Shareholders |
13,667 |
13,047 |
13,047 |
11,556 |
6,727 |
|
Deferred Revenue - Current |
0.0 |
0.0 |
0.0 |
0.1 |
0.2 |
|
Total Long Term Debt, Supplemental |
18.3 |
18.7 |
38.9 |
4.7 |
4.1 |
|
Long Term Debt Maturing within 1 Year |
0.9 |
7.2 |
11.4 |
1.0 |
1.6 |
|
Long Term Debt Maturing in Year 2 |
3.1 |
6.8 |
12.6 |
1.5 |
0.8 |
|
Long Term Debt Maturing in Year 3 |
8.1 |
4.6 |
10.4 |
1.2 |
0.8 |
|
Long Term Debt Maturing in Year 4 |
4.1 |
- |
- |
0.8 |
0.5 |
|
Long Term Debt Maturing in Year 5 |
2.1 |
- |
- |
- |
- |
|
Long Term Debt Maturing in 2-3 Years |
11.2 |
11.5 |
23.0 |
2.7 |
1.6 |
|
Long Term Debt Maturing in 4-5 Years |
6.2 |
- |
- |
0.8 |
0.5 |
|
Long Term Debt Matur. in Year 6 & Beyond |
0.0 |
0.0 |
4.5 |
0.1 |
0.4 |
|
Total Capital Leases, Supplemental |
8.6 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 1 |
3.1 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 2 |
1.4 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 3 |
1.4 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 4 |
1.4 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
1.4 |
- |
- |
- |
- |
|
Capital Lease Payments Due in 2-3 Years |
2.8 |
- |
- |
- |
- |
|
Capital Lease Payments Due in 4-5 Years |
2.8 |
- |
- |
- |
- |
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 |
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 |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income/Starting Line |
9.2 |
20.9 |
3.8 |
9.9 |
42.0 |
|
Depreciation |
11.2 |
10.8 |
13.3 |
10.4 |
6.9 |
|
Depreciation/Depletion |
11.2 |
10.8 |
13.3 |
10.4 |
6.9 |
|
Amortization of Intangibles |
0.5 |
0.1 |
0.1 |
0.4 |
- |
|
Amortization |
0.5 |
0.1 |
0.1 |
0.4 |
- |
|
Deferred Taxes |
1.8 |
-0.5 |
-1.8 |
2.5 |
-2.7 |
|
Discontinued Operations |
- |
8.8 |
- |
- |
- |
|
Unusual Items |
2.9 |
3.6 |
10.7 |
0.2 |
2.9 |
|
Equity in Net Earnings (Loss) |
6.2 |
- |
1.3 |
2.5 |
- |
|
Other Non-Cash Items |
4.0 |
3.7 |
2.3 |
5.0 |
5.9 |
|
Non-Cash Items |
13.0 |
16.1 |
14.4 |
7.7 |
8.9 |
|
Accounts Receivable |
-38.4 |
-22.7 |
33.3 |
-35.8 |
19.9 |
|
Inventories |
-24.0 |
-5.9 |
-2.0 |
-5.9 |
6.4 |
|
Prepaid Expenses |
-1.8 |
-1.3 |
2.7 |
-0.1 |
0.2 |
|
Accounts Payable |
29.0 |
16.8 |
-17.2 |
34.7 |
-71.8 |
|
Accrued Expenses |
1.0 |
1.5 |
0.0 |
-0.5 |
-0.3 |
|
Taxes Payable |
1.0 |
-2.0 |
4.1 |
1.2 |
- |
|
Other Liabilities |
-3.6 |
-0.6 |
0.0 |
-6.6 |
0.2 |
|
Other Assets & Liabilities, Net |
-0.1 |
-1.4 |
- |
- |
- |
|
Changes in Working Capital |
-36.9 |
-15.6 |
21.0 |
-12.9 |
-45.4 |
|
Cash from Operating Activities |
-1.1 |
31.8 |
50.7 |
18.0 |
9.7 |
|
|
|
|
|
|
|
|
Purchase of Fixed Assets |
-49.1 |
-11.4 |
-13.5 |
-27.4 |
-55.9 |
|
Purchase/Acquisition of Intangibles |
-0.4 |
- |
-0.7 |
- |
- |
|
Capital Expenditures |
-49.6 |
-11.4 |
-14.1 |
-27.4 |
-55.9 |
|
Sale of Fixed Assets |
15.7 |
0.5 |
0.2 |
5.0 |
0.5 |
|
Sale/Maturity of Investment |
0.1 |
7.8 |
0.1 |
0.0 |
575.7 |
|
Purchase of Investments |
-6.4 |
-37.2 |
-13.0 |
-6.3 |
-567.0 |
|
Other Investing Cash Flow |
0.3 |
1.3 |
0.8 |
-3.1 |
0.4 |
|
Other Investing Cash Flow Items, Total |
9.8 |
-27.6 |
-11.9 |
-4.4 |
9.7 |
|
Cash from Investing Activities |
-39.8 |
-38.9 |
-26.0 |
-31.8 |
-46.3 |
|
|
|
|
|
|
|
|
Other Financing Cash Flow |
29.3 |
16.4 |
0.0 |
-0.4 |
-0.3 |
|
Financing Cash Flow Items |
29.3 |
16.4 |
0.0 |
-0.4 |
-0.3 |
|
Cash Dividends Paid - Common |
-1.3 |
-1.2 |
-1.4 |
-3.4 |
-1.7 |
|
Total Cash Dividends Paid |
-1.3 |
-1.2 |
-1.4 |
-3.4 |
-1.7 |
|
Sale/Issuance of
Common |
- |
- |
- |
- |
0.1 |
|
Common Stock, Net |
- |
- |
- |
- |
0.1 |
|
Treasury Stock |
-0.3 |
- |
-4.3 |
0.0 |
- |
|
Issuance (Retirement) of Stock, Net |
-0.3 |
- |
-4.3 |
0.0 |
0.1 |
|
Short Term Debt Issued |
13.5 |
39.1 |
45.3 |
210.1 |
57.7 |
|
Short Term Debt
Reduction |
-23.0 |
-31.5 |
-60.4 |
-192.8 |
-37.7 |
|
Short Term Debt, Net |
-9.5 |
7.6 |
-15.1 |
17.4 |
20.0 |
|
Long Term Debt Issued |
19.7 |
4.7 |
7.6 |
2.2 |
0.0 |
|
Long Term Debt
Reduction |
-11.5 |
-11.2 |
-1.0 |
-1.6 |
-1.5 |
|
Long Term Debt, Net |
8.2 |
-6.6 |
6.7 |
0.6 |
-1.5 |
|
Issuance (Retirement) of Debt, Net |
-1.2 |
1.0 |
-8.5 |
18.0 |
18.6 |
|
Cash from Financing Activities |
26.4 |
16.3 |
-14.2 |
14.1 |
16.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.6 |
-0.4 |
1.8 |
- |
- |
|
Net Change in Cash |
-15.0 |
8.7 |
12.3 |
0.3 |
-19.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
21.9 |
11.1 |
0.6 |
0.4 |
20.2 |
|
Net Cash - Ending Balance |
6.9 |
19.9 |
12.9 |
0.7 |
0.4 |
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 |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
- |
1,134.2 |
1,134.3 |
807.8 |
930.3 |
|
Finished Product Revenue |
1,366.5 |
- |
- |
- |
- |
|
Merchandise Revenue |
240.9 |
- |
- |
- |
- |
|
Other Revenue |
4.6 |
- |
- |
- |
- |
|
Total Revenue |
1,611.9 |
1,134.2 |
1,134.3 |
807.8 |
930.3 |
|
|
|
|
|
|
|
|
Cost of Revenue |
- |
1,076.7 |
1,058.8 |
756.0 |
853.5 |
|
Cost-Finished Goods Sold |
1,326.1 |
- |
- |
- |
- |
|
Cost-Merchandise Sold |
213.3 |
- |
- |
- |
- |
|
Cost-Other Sales |
1.6 |
- |
- |
- |
- |
|
Salaries |
11.8 |
8.7 |
9.9 |
7.8 |
6.4 |
|
Retirement Allowance |
1.6 |
1.1 |
1.1 |
1.2 |
1.3 |
|
Employee Benefits |
4.3 |
3.0 |
4.7 |
3.1 |
4.2 |
|
Travel Expenses |
1.3 |
0.7 |
1.0 |
1.7 |
0.3 |
|
Communication Exp. |
0.3 |
0.2 |
0.2 |
0.2 |
0.4 |
|
Taxes and Dues |
0.3 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Repair Expenses |
0.1 |
0.0 |
0.2 |
0.2 |
0.3 |
|
Insurance Expenses |
0.1 |
0.0 |
0.1 |
0.1 |
0.1 |
|
Entertainment |
0.7 |
0.5 |
0.7 |
0.7 |
0.6 |
|
Public Relations Expense |
0.2 |
0.1 |
0.0 |
- |
- |
|
Expenses for Samples |
- |
- |
0.0 |
- |
0.0 |
|
Shipping/Handling |
7.9 |
4.7 |
5.9 |
2.1 |
1.3 |
|
Education & Training |
0.5 |
0.5 |
0.6 |
0.6 |
0.8 |
|
Commissions Paid |
2.9 |
1.6 |
2.1 |
2.7 |
3.2 |
|
Consumable Expense |
1.4 |
0.8 |
0.7 |
0.3 |
0.6 |
|
Printing Expenses |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Vehicle Expenses |
0.3 |
0.2 |
0.3 |
0.1 |
0.1 |
|
Amort. of Bad Debts |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Rent Paid |
1.2 |
1.0 |
1.3 |
0.9 |
0.7 |
|
Depreciation Expense |
1.1 |
1.0 |
1.2 |
1.2 |
0.7 |
|
Advertising Expenses |
0.5 |
0.5 |
0.7 |
0.2 |
0.2 |
|
Marketing Expenses |
- |
- |
- |
0.1 |
- |
|
Research & Develop. |
11.0 |
11.9 |
20.9 |
8.8 |
7.6 |
|
Amort-Intangibles |
0.4 |
- |
0.7 |
- |
- |
|
Conference Expense |
0.0 |
- |
- |
- |
- |
|
After-Serv Expense |
0.7 |
0.6 |
2.4 |
0.4 |
3.9 |
|
Exporting Expenses |
- |
- |
- |
0.3 |
0.1 |
|
Misc Sales & Adm Exp |
0.5 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Operating Expense |
1,590.0 |
1,114.1 |
1,113.5 |
788.9 |
886.5 |
|
|
|
|
|
|
|
|
Interest Income |
0.6 |
0.6 |
0.9 |
0.1 |
0.1 |
|
Recovery-Loan Los Provision |
0.1 |
0.1 |
0.3 |
0.8 |
0.2 |
|
Rental Income |
2.7 |
2.4 |
2.7 |
2.1 |
0.6 |
|
Miscellaneous Non-Operating Income |
4.2 |
4.4 |
2.9 |
1.8 |
1.5 |
|
G-For Curr Transactn |
27.7 |
19.2 |
56.8 |
6.4 |
8.6 |
|
G-For Exch Translatn |
0.6 |
0.1 |
5.1 |
0.7 |
1.3 |
|
G-Current Futr Trade |
13.1 |
13.7 |
20.3 |
0.2 |
- |
|
G-Current Future Valu |
0.4 |
0.2 |
0.5 |
0.0 |
- |
|
Gain-Disposal of Equity Method Sec. |
- |
- |
0.6 |
- |
- |
|
G-ST Mkt Secs Disposal |
- |
- |
- |
- |
0.6 |
|
G-Tang Asset Disp. |
16.1 |
0.0 |
0.0 |
0.1 |
1.6 |
|
Gain-Disposal of Other LT Assets |
0.1 |
0.1 |
- |
- |
- |
|
Interest Expenses |
-1.8 |
-1.2 |
-5.1 |
-3.5 |
-0.6 |
|
Loss on Operation |
- |
- |
-3.0 |
- |
- |
|
Miscellaneous Non-Operating Expense |
-0.2 |
-0.1 |
-1.8 |
-0.1 |
0.0 |
|
Donations Paid |
-1.7 |
-0.9 |
-1.4 |
-1.1 |
-2.5 |
|
Depreciation-Suspended Assets |
0.0 |
- |
- |
- |
- |
|
L-For Curr Transactn |
-23.3 |
-19.5 |
-68.2 |
-8.0 |
-10.5 |
|
L-For Exch Translatn |
-0.3 |
-0.2 |
-4.1 |
-0.3 |
-0.2 |
|
L-Trade Currency Futures |
-17.9 |
-15.1 |
-11.1 |
-0.2 |
- |
|
L-Value Currency Futures |
-0.4 |
-0.1 |
-1.8 |
- |
0.0 |
|
L-Disp Secs avail. for Sale |
-0.2 |
- |
-0.1 |
0.0 |
-0.1 |
|
Loss-Disposal of Equity Method Sec. |
-0.5 |
- |
- |
- |
- |
|
Loss-Reduction of Tangible Assets |
- |
-2.8 |
-6.9 |
- |
- |
|
Loss-Reduction of Other Tangible Assets |
- |
- |
-1.1 |
- |
- |
|
L-Reduct. Securities avail. for Sale |
- |
- |
- |
- |
-0.5 |
|
Loss-Depletion of inventory |
0.0 |
- |
- |
- |
- |
|
L-Tang Asset Disp. |
-18.1 |
-3.0 |
-0.8 |
-0.3 |
-4.2 |
|
Loss-Disposal of Other LT Assets |
- |
0.0 |
- |
- |
- |
|
Loss-Disposal of Accounts Receivable |
0.0 |
- |
- |
- |
- |
|
Loss under Equity Method |
-6.2 |
- |
-2.3 |
-2.5 |
- |
|
Net Income Before Taxes |
16.6 |
17.9 |
3.4 |
15.2 |
39.6 |
|
|
|
|
|
|
|
|
Provision for Income Taxes |
5.8 |
1.9 |
2.8 |
4.9 |
-2.5 |
|
Net Income After Taxes |
10.9 |
15.9 |
0.6 |
10.3 |
42.0 |
|
|
|
|
|
|
|
|
Minority Interest Gain |
-0.5 |
-4.3 |
2.0 |
- |
- |
|
Equity in Affiliate |
-1.6 |
- |
3.2 |
- |
- |
|
Net Income Before Extra. Items |
8.8 |
11.6 |
5.8 |
10.3 |
42.0 |
|
Discontinued Operation |
- |
5.0 |
- |
-0.4 |
- |
|
Net Income |
8.8 |
16.6 |
5.8 |
9.9 |
42.0 |
|
|
|
|
|
|
|
|
Income Available to Com Excl ExtraOrd |
8.8 |
11.6 |
5.8 |
10.3 |
42.0 |
|
|
|
|
|
|
|
|
Income Available to Com Incl ExtraOrd |
8.8 |
16.6 |
5.8 |
9.9 |
42.0 |
|
|
|
|
|
|
|
|
Basic Weighted Average Shares |
6.9 |
6.7 |
6.8 |
6.9 |
6.9 |
|
Basic EPS Excluding ExtraOrdinary Items |
1.27 |
1.73 |
0.85 |
1.50 |
6.13 |
|
Basic EPS Including ExtraOrdinary Item |
1.27 |
2.47 |
0.85 |
1.45 |
6.13 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
8.8 |
16.6 |
5.8 |
9.9 |
42.0 |
|
Diluted Weighted Average Shares |
6.9 |
6.7 |
6.8 |
6.9 |
6.9 |
|
Diluted EPS Excluding ExtraOrd Items |
1.27 |
1.73 |
0.85 |
1.50 |
6.13 |
|
Diluted EPS Including ExtraOrd Items |
1.27 |
2.47 |
0.85 |
1.45 |
6.13 |
|
DPS-Common Stock |
0.22 |
0.18 |
0.21 |
0.25 |
0.48 |
|
Gross Dividends - Common Stock |
1.6 |
1.2 |
1.4 |
1.7 |
3.3 |
|
Normalized Income Before Taxes |
18.8 |
21.5 |
4.2 |
15.4 |
42.1 |
|
|
|
|
|
|
|
|
Inc Tax Ex Impact of Sp Items |
6.4 |
2.2 |
3.1 |
4.9 |
-1.6 |
|
Normalized Income After Taxes |
12.3 |
19.3 |
1.1 |
10.4 |
43.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
10.2 |
15.0 |
6.3 |
10.4 |
43.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.48 |
2.23 |
0.93 |
1.52 |
6.38 |
|
Diluted Normalized EPS |
1.48 |
2.23 |
0.93 |
1.52 |
6.38 |
|
R&D Expense, Supplemental |
11.0 |
11.9 |
20.9 |
8.8 |
7.6 |
|
Advertising Expense |
0.5 |
0.5 |
0.7 |
0.2 |
0.2 |
|
Interest Expense, Supplemental |
1.8 |
1.2 |
5.1 |
3.5 |
0.6 |
|
Amort of Acquisition Costs |
0.1 |
0.7 |
- |
- |
- |
|
Amort of Intangibles, Supplemental |
0.5 |
0.1 |
0.1 |
0.4 |
0.0 |
|
Rental Expense, Supplemental |
1.2 |
1.0 |
1.3 |
0.9 |
0.7 |
|
Depreciation, Supplemental |
11.2 |
10.8 |
13.3 |
10.4 |
6.9 |
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 |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Cash/Equivalents |
7.0 |
21.7 |
11.3 |
0.7 |
0.4 |
|
Cash & Equivalents-Government Subsidy |
0.0 |
- |
- |
- |
- |
|
ST Finl Assets |
0.0 |
- |
7.9 |
- |
- |
|
ST Mkt. Secs |
- |
- |
- |
0.0 |
0.0 |
|
Trade Rcvb Gross |
95.9 |
46.6 |
32.7 |
53.9 |
33.0 |
|
Doubtful Account |
-0.2 |
-0.1 |
-0.1 |
-0.2 |
-0.2 |
|
ST Loans |
- |
0.6 |
0.8 |
0.5 |
0.0 |
|
Other Rcvbls. |
8.2 |
6.4 |
2.9 |
7.1 |
4.3 |
|
Receivable-Recovery of Taxes |
1.9 |
1.1 |
0.1 |
- |
- |
|
Dfrd TAxes |
1.1 |
0.7 |
1.4 |
0.1 |
1.0 |
|
Accrued Income |
- |
- |
0.1 |
0.0 |
0.0 |
|
Advance Payments |
5.2 |
0.2 |
0.2 |
1.3 |
2.1 |
|
Prepaid Expenses |
0.8 |
0.3 |
0.1 |
0.1 |
0.1 |
|
Prepaid Inc Tax |
- |
- |
- |
0.1 |
0.2 |
|
Prepaid VAT |
- |
- |
- |
0.5 |
0.2 |
|
Currency Forward Asset |
0.4 |
0.2 |
0.4 |
0.0 |
- |
|
Merchandise |
5.1 |
5.3 |
4.1 |
7.5 |
3.4 |
|
Finished Goods |
9.0 |
7.0 |
4.1 |
3.5 |
2.4 |
|
Work in Progress |
5.4 |
1.0 |
1.5 |
1.5 |
2.0 |
|
Raw Materials |
37.5 |
13.5 |
11.8 |
10.5 |
9.6 |
|
Supplies |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Goods in Transit |
3.2 |
4.7 |
2.9 |
2.4 |
0.4 |
|
Total Current Assets |
180.6 |
109.1 |
82.1 |
89.5 |
59.0 |
|
|
|
|
|
|
|
|
LT Finl Assets |
0.0 |
0.0 |
0.0 |
0.0 |
0.0 |
|
Securities avail. for Sale |
0.1 |
0.4 |
0.5 |
2.4 |
0.5 |
|
Invest.Sec. under Equity Method |
8.3 |
9.0 |
- |
1.8 |
4.6 |
|
Other Investment Assets |
0.3 |
- |
- |
- |
- |
|
LT Loans |
0.0 |
0.0 |
0.5 |
1.8 |
0.2 |
|
Dfrd Taxes |
1.9 |
3.1 |
4.6 |
3.1 |
4.8 |
|
LT Guarantee Dep |
2.9 |
1.8 |
1.7 |
6.9 |
5.6 |
|
Land |
17.9 |
14.0 |
13.0 |
15.3 |
15.0 |
|
Buildings |
89.2 |
87.8 |
81.0 |
90.7 |
59.6 |
|
Buildings Depre. |
-20.2 |
-18.2 |
-14.8 |
-16.7 |
-14.3 |
|
Structures |
13.6 |
14.5 |
16.3 |
17.4 |
16.2 |
|
Structure Depre. |
-6.3 |
-5.6 |
-5.3 |
-6.0 |
-5.1 |
|
Structures-Government Subsidy |
0.0 |
- |
- |
- |
- |
|
Machinery/Equip. |
57.1 |
46.3 |
63.5 |
44.1 |
20.3 |
|
Mach/Equip Depre |
-29.5 |
-24.0 |
-19.4 |
-11.1 |
-7.5 |
|
Machinery & Equipment-Reduction |
-4.5 |
-8.9 |
-5.8 |
- |
- |
|
Machinery & Equipment-Government Subsidy |
0.0 |
- |
- |
- |
- |
|
Transport Equip. |
0.4 |
0.7 |
0.6 |
0.5 |
0.4 |
|
Transport Deprec |
-0.4 |
-0.4 |
-0.3 |
-0.3 |
-0.2 |
|
Tools/Equipments |
14.7 |
12.8 |
13.2 |
12.7 |
11.3 |
|
Tool/Equip Depr. |
-9.8 |
-8.2 |
-6.9 |
-7.2 |
-5.7 |
|
Tools & Equipments-Reduction |
-0.1 |
-0.3 |
-0.2 |
- |
- |
|
Tools & Equipments &
Fixtures-Government |
-0.1 |
- |
- |
- |
- |
|
Construc in Prog |
22.9 |
1.5 |
2.9 |
1.1 |
38.6 |
|
Mach.In Transit |
- |
- |
- |
0.0 |
- |
|
Software, Intangible |
0.3 |
0.5 |
0.6 |
- |
- |
|
Other Tangibles |
4.4 |
3.9 |
2.5 |
- |
- |
|
Financial Lease |
- |
- |
- |
0.6 |
- |
|
Financial Lease-Depre |
- |
- |
- |
-0.1 |
- |
|
Other Intangible |
3.2 |
- |
- |
- |
- |
|
Development Cost |
1.5 |
- |
- |
- |
- |
|
Development Cost-Government Subsidy |
-0.7 |
- |
- |
- |
- |
|
Goodwill |
5.0 |
- |
2.8 |
- |
- |
|
Total Assets |
352.8 |
239.8 |
233.1 |
246.6 |
203.2 |
|
|
|
|
|
|
|
|
Trade Payables |
109.7 |
71.2 |
47.5 |
68.0 |
45.5 |
|
ST Borrowings |
15.7 |
13.0 |
23.5 |
38.0 |
20.6 |
|
Accounts Payable |
10.3 |
8.4 |
15.4 |
6.7 |
10.2 |
|
Advances Receivd |
0.0 |
0.0 |
0.0 |
0.1 |
0.2 |
|
Unearned Income |
0.0 |
- |
0.0 |
- |
- |
|
VAT Withheld |
- |
- |
0.0 |
- |
- |
|
Accrued Expenses |
3.7 |
2.5 |
1.2 |
1.2 |
1.6 |
|
Income Taxes Payable |
2.7 |
1.6 |
3.6 |
1.3 |
- |
|
Sec Dep Withheld |
0.1 |
0.1 |
0.1 |
0.1 |
0.1 |
|
Current LT Liab. |
0.9 |
7.2 |
11.4 |
1.0 |
1.6 |
|
Capital Leased Liabilities Current |
3.1 |
- |
- |
- |
- |
|
Current Portion of Capital Leases |
- |
- |
- |
0.4 |
- |
|
Deposit Withheld |
3.2 |
3.7 |
2.3 |
1.0 |
1.1 |
|
Currency Futures |
0.4 |
0.1 |
1.6 |
- |
0.0 |
|
Total Current Liabilities |
149.8 |
107.7 |
106.5 |
117.8 |
80.9 |
|
|
|
|
|
|
|
|
LT Borrowings |
17.4 |
11.5 |
27.5 |
3.7 |
2.5 |
|
Capital Lease Liabilities |
5.5 |
- |
- |
- |
- |
|
Total Long Term Debt |
22.9 |
11.5 |
27.5 |
3.7 |
2.5 |
|
|
|
|
|
|
|
|
Retire Reserve |
15.9 |
14.0 |
9.7 |
9.6 |
9.6 |
|
Deposit-Retirement Insurance |
-2.7 |
-2.5 |
- |
- |
- |
|
Transfer to National Pension Fund |
0.0 |
0.0 |
- |
- |
- |
|
Minority Interest |
13.1 |
0.8 |
2.8 |
- |
- |
|
Rsv-Sales Gurant |
0.1 |
0.2 |
0.3 |
0.6 |
2.2 |
|
LT Account Payable |
0.0 |
- |
- |
- |
- |
|
Total Liabilities |
199.1 |
131.7 |
146.8 |
131.6 |
95.2 |
|
|
|
|
|
|
|
|
Common Stock |
33.7 |
27.2 |
25.1 |
33.8 |
34.0 |
|
Retained Earning Carried Forward |
79.1 |
69.8 |
49.1 |
61.3 |
55.2 |
|
Legal Reserve |
0.8 |
0.7 |
0.5 |
- |
- |
|
Other Capital Surplus |
1.2 |
1.1 |
1.1 |
17.3 |
17.4 |
|
Gain-Capital Reduction |
3.3 |
3.2 |
3.0 |
- |
- |
|
Stock Options |
- |
- |
- |
- |
0.0 |
|
Other Capital |
-2.1 |
-1.3 |
-1.3 |
- |
- |
|
Paid-in Capital |
39.8 |
9.8 |
9.0 |
- |
- |
|
Treasury Stock |
-4.5 |
-4.1 |
-3.7 |
0.0 |
0.0 |
|
Capital Change, Equity Method (Loss) |
-0.7 |
0.0 |
- |
- |
- |
|
Oversea Op Trans |
3.2 |
1.8 |
3.6 |
2.5 |
1.3 |
|
Total Equity |
153.8 |
108.2 |
86.4 |
115.0 |
108.0 |
|
|
|
|
|
|
|
|
Total Liabilities & Shareholders' Equity |
352.8 |
239.8 |
233.1 |
246.6 |
203.2 |
|
|
|
|
|
|
|
|
S/O-Common Stock |
7.3 |
6.5 |
6.5 |
6.9 |
6.9 |
|
Total Common Shares Outstanding |
7.3 |
6.5 |
6.5 |
6.9 |
6.9 |
|
T/S-Common Stock |
0.3 |
0.3 |
0.3 |
0.0 |
0.0 |
|
Deferred Revenue, Current |
0.0 |
0.0 |
0.0 |
0.1 |
0.2 |
|
Full-Time Employees |
1,595 |
1,325 |
1,273 |
1,194 |
1,872 |
|
Number of Common Shareholders |
13,667 |
13,047 |
13,047 |
11,556 |
6,727 |
|
LT Debt 1 yr |
0.9 |
7.2 |
11.4 |
1.0 |
1.6 |
|
LT Debt 2 yrs |
3.1 |
6.8 |
12.6 |
1.5 |
0.8 |
|
LT Debt 3 yrs |
8.1 |
4.6 |
10.4 |
1.2 |
0.8 |
|
LT Debt 4 yrs |
4.1 |
- |
- |
0.8 |
0.5 |
|
Long Term Debt Maturing in Year 5 |
2.1 |
- |
- |
- |
- |
|
LT Debt thereafter |
- |
- |
4.5 |
0.1 |
0.4 |
|
Total Long Term Debt, Supplemental |
18.3 |
18.7 |
38.9 |
4.7 |
4.1 |
|
Capital Lease Maturing within 1 Year |
3.1 |
- |
- |
- |
- |
|
Capital Lease Payments Due in Year 5 |
5.5 |
- |
- |
- |
- |
|
Total Capital Leases |
8.6 |
- |
- |
- |
- |
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 |
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 |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Income |
9.2 |
20.9 |
3.8 |
9.9 |
42.0 |
|
Depreciation |
11.2 |
10.8 |
13.3 |
10.4 |
6.9 |
|
Amort-Intangibles |
0.5 |
0.1 |
0.1 |
0.4 |
- |
|
Amort-Bad Debt Exp. |
0.0 |
0.0 |
0.0 |
0.0 |
0.1 |
|
Retirement Allowance |
4.7 |
3.9 |
3.3 |
5.6 |
5.3 |
|
After-Service Expenses |
- |
- |
- |
- |
0.9 |
|
L-For Exch Translatn |
0.3 |
0.2 |
2.3 |
0.3 |
0.2 |
|
L-Currency Futr Val. |
- |
- |
- |
- |
0.0 |
|
L-Inventory Valuatn. |
- |
- |
2.5 |
0.0 |
0.4 |
|
Loss-Valuation of Currency Futures |
0.4 |
0.1 |
1.8 |
- |
- |
|
Loss-Disposal of Other LT Assets |
- |
0.0 |
- |
- |
- |
|
L-Tang Asset Disp. |
18.1 |
3.0 |
0.8 |
0.3 |
4.2 |
|
Loss-Disposal of Sec. Available-for-Sale |
0.2 |
- |
0.1 |
- |
0.1 |
|
Loss-Disposal of Sec under Equity Method |
0.5 |
- |
- |
- |
- |
|
Loss-Reduction of Tangible Assets |
- |
2.8 |
6.9 |
- |
- |
|
Loss-Reduction of Other Tangible Assets |
- |
- |
1.1 |
- |
- |
|
L-Reduct of Secs avail. for Sale |
- |
- |
- |
0.0 |
0.5 |
|
L-Equity Method |
6.2 |
- |
1.3 |
2.5 |
- |
|
Discontinued Operations |
- |
8.8 |
- |
- |
- |
|
Reverse-Doubtful Acc'ts |
-0.1 |
-0.1 |
-0.3 |
-0.8 |
-0.2 |
|
G-Currency Futr Trad |
-0.4 |
-0.2 |
-0.5 |
0.0 |
- |
|
G-For Exch Translatn |
-0.5 |
-0.1 |
-2.5 |
-0.1 |
-0.3 |
|
Recovery-Inventory Valuation Loss |
-0.2 |
-2.1 |
-2.5 |
- |
- |
|
G-Dispose-ST Mkt Secs |
- |
- |
- |
- |
-0.6 |
|
Gain-Disposal of Other LT Assets |
-0.1 |
-0.1 |
- |
- |
- |
|
G-Tang Asset Disp. |
-16.1 |
0.0 |
0.0 |
-0.1 |
-1.6 |
|
Trade Receivables |
-37.5 |
-19.7 |
29.5 |
-37.6 |
14.3 |
|
Account Receivables |
-0.9 |
-3.1 |
4.0 |
1.8 |
5.4 |
|
Accrued Income |
- |
0.1 |
-0.1 |
0.0 |
0.2 |
|
Advance Payments |
-4.1 |
0.0 |
0.9 |
0.9 |
2.1 |
|
Prepaid Expenses |
-0.8 |
-0.3 |
0.0 |
0.0 |
0.3 |
|
Prepaid Taxes |
-0.9 |
-1.0 |
0.0 |
0.1 |
0.0 |
|
Prepaid VAT |
- |
-0.1 |
2.7 |
-0.3 |
-0.2 |
|
Inventories |
-19.9 |
-5.9 |
-2.9 |
-6.8 |
4.3 |
|
Dfrd Taxes - Assets |
1.5 |
-0.5 |
-1.2 |
1.6 |
-2.7 |
|
Current Deferred Tax |
0.3 |
-0.1 |
-0.7 |
0.9 |
- |
|
Trade Payables |
29.8 |
23.6 |
-25.8 |
38.7 |
-71.8 |
|
Account Payables |
-0.7 |
-6.8 |
8.6 |
-4.0 |
0.0 |
|
LT Account Payable |
-0.1 |
- |
- |
- |
- |
|
Accrued Expenses |
1.0 |
1.5 |
0.0 |
-0.5 |
-0.3 |
|
Accrued Income Tax |
1.0 |
-2.0 |
4.1 |
1.2 |
- |
|
Unearned Income |
0.0 |
0.0 |
0.0 |
- |
- |
|
Currency Futures |
0.2 |
0.2 |
0.0 |
0.0 |
- |
|
Advances Received |
0.0 |
0.0 |
0.0 |
-0.1 |
0.2 |
|
Deposits Withheld |
-0.4 |
1.4 |
1.4 |
-0.1 |
0.4 |
|
Security Deposit Withheld |
0.0 |
- |
- |
0.0 |
0.1 |
|
Retiremt Allow Paymt |
-3.5 |
-1.6 |
-1.0 |
-5.2 |
-1.2 |
|
Reserve-Severance & Retirement Benefit |
0.1 |
0.6 |
0.3 |
0.0 |
0.8 |
|
Reserve-Sales Guarantee |
- |
- |
0.3 |
-0.8 |
- |
|
Deposits for Retirement Insurance |
-0.1 |
-1.2 |
-0.9 |
-0.3 |
- |
|
Nation Pension Fnd |
0.0 |
0.0 |
0.0 |
0.0 |
- |
|
Currency Forwards liabilities |
-0.1 |
-1.4 |
- |
- |
- |
|
Cash from Operating Activities |
-1.1 |
31.8 |
50.7 |
18.0 |
9.7 |
|
|
|
|
|
|
|
|
Dec-ST Financial Assets |
- |
7.8 |
- |
- |
6.1 |
|
Decrease-LT Financial Assets |
- |
- |
0.0 |
- |
- |
|
Disp-ST Mkt Secs |
- |
- |
0.0 |
0.0 |
569.4 |
|
Disp-Securities avail. for Sale |
0.1 |
- |
0.1 |
- |
0.2 |
|
Dec-ST Loans |
0.6 |
0.8 |
0.4 |
0.0 |
1.7 |
|
Decrease in LT Loans |
0.0 |
0.0 |
0.4 |
0.1 |
0.0 |
|
Decrease-Other Non-Current Assets |
0.3 |
0.7 |
- |
- |
- |
|
Dec-Guarantee Dep |
0.3 |
0.1 |
1.5 |
0.4 |
1.4 |
|
Disposal of Building |
12.0 |
- |
- |
0.1 |
0.1 |
|
Disposal of Land |
- |
- |
- |
0.0 |
0.0 |
|
Disposal Structure |
3.1 |
0.0 |
0.0 |
0.4 |
- |
|
Disposal Machinery |
0.2 |
0.4 |
0.0 |
4.1 |
0.3 |
|
Disposal Vehicles |
- |
0.0 |
0.0 |
- |
0.0 |
|
Disp Tools/Equip. |
0.4 |
0.0 |
0.2 |
0.3 |
0.1 |
|
Disp.-Construction in Progress |
- |
- |
- |
- |
0.0 |
|
Inc-ST Finl Assets |
0.0 |
- |
-9.1 |
- |
- |
|
Inc-LT Finl Assets |
- |
- |
- |
- |
0.0 |
|
Acq-ST Mkt. Secs |
- |
- |
- |
- |
-562.5 |
|
Increase in Sec. avail. for Sale |
- |
-4.9 |
-0.3 |
-2.0 |
- |
|
Acq-Invest.Sec.Equity Method |
-6.4 |
-32.3 |
-3.6 |
-4.3 |
-4.5 |
|
Increase in ST Loans |
- |
-0.2 |
- |
0.0 |
- |
|
Increase in LT Loans |
- |
- |
-0.4 |
-2.2 |
- |
|
Inc in Guarant Depos |
-0.9 |
-0.1 |
-1.1 |
-1.3 |
-2.7 |
|
Acquisition of Land |
- |
- |
-1.4 |
- |
- |
|
Acquis. of Building |
-1.3 |
- |
0.0 |
-0.7 |
0.0 |
|
Purch. of Structure |
-0.4 |
0.0 |
-1.6 |
-0.4 |
-0.2 |
|
Purch. of Machinery |
-9.9 |
-0.5 |
-6.0 |
-8.2 |
-5.5 |
|
Acq. of Vehicles |
- |
- |
-0.1 |
0.0 |
-0.1 |
|
Acq. in Tools/Equip. |
-2.0 |
-1.1 |
-1.9 |
-1.7 |
-2.9 |
|
Acq-Other Tangible Assets |
-0.7 |
-1.8 |
-0.3 |
- |
- |
|
Inc-Mach. In Transit |
- |
- |
-0.1 |
0.0 |
- |
|
Inc. Const. In Prog |
-34.7 |
-8.0 |
-2.1 |
-16.4 |
-47.2 |
|
Increase-Development Cost |
-0.4 |
- |
- |
- |
- |
|
Increase-Software |
- |
- |
-0.7 |
- |
- |
|
Cash from Investing Activities |
-39.8 |
-38.9 |
-26.0 |
-31.8 |
-46.3 |
|
|
|
|
|
|
|
|
Inc in ST Borrowings |
13.5 |
39.1 |
45.3 |
210.1 |
57.7 |
|
Inc in LT Borrowings |
14.2 |
4.7 |
7.6 |
2.2 |
0.0 |
|
Increase-Capital Lease Liabilities |
5.5 |
- |
- |
- |
- |
|
Increase-Subsidy from Government |
0.1 |
0.1 |
- |
- |
- |
|
Subsidiaries' Capital Increase |
27.8 |
16.4 |
- |
- |
- |
|
Inc. Share Capital |
- |
- |
- |
- |
0.1 |
|
Repay ST Borrowings |
-23.0 |
-31.5 |
-60.4 |
-192.8 |
-37.7 |
|
Decrease-LT Borrowings |
-10.4 |
- |
- |
- |
- |
|
Repay Curr LT Liabs |
-1.1 |
-11.2 |
-0.8 |
-1.6 |
-1.5 |
|
Repay Cur Port Bond |
- |
- |
-0.1 |
- |
- |
|
Dec-Financial Lease |
-0.6 |
- |
-0.4 |
-0.5 |
- |
|
Dec-Oversea Translat |
- |
- |
- |
0.1 |
0.0 |
|
Dividend Payment |
-1.3 |
-1.2 |
-1.4 |
-3.4 |
-1.7 |
|
Acquis of Treas Stck |
-0.3 |
- |
-4.3 |
0.0 |
- |
|
Cash Inflow-Consol. Scope Change |
1.9 |
0.0 |
0.4 |
- |
-0.3 |
|
Cash Inflow-Merger |
- |
- |
- |
0.0 |
- |
|
Cash from Financing Activities |
26.4 |
16.3 |
-14.2 |
14.1 |
16.8 |
|
|
|
|
|
|
|
|
Foreign Exchange Effects |
-0.6 |
-0.4 |
1.8 |
- |
- |
|
Net Change in Cash |
-15.0 |
8.7 |
12.3 |
0.3 |
-19.8 |
|
|
|
|
|
|
|
|
Net Cash - Beginning Balance |
21.9 |
11.1 |
0.6 |
0.4 |
20.2 |
|
Net Cash - Ending Balance |
6.9 |
19.9 |
12.9 |
0.7 |
0.4 |
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 |
PricewaterhouseCoopers
LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
Deloitte &
Touche LLP |
KPMG LLP |
|
Auditor Opinion |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
Unqualified |
|
|
|
|
|
|
|
|
Net Sales |
1,607.4 |
1,134.2 |
1,134.3 |
807.8 |
930.3 |
|
Revenue |
1,607.4 |
1,134.2 |
1,134.3 |
807.8 |
930.3 |
|
Other Revenue |
4.6 |
- |
- |
- |
- |
|
Other Revenue, Total |
4.6 |
- |
- |
- |
- |
|
Total Revenue |
1,611.9 |
1,134.2 |
1,134.3 |
807.8 |
930.3 |
|
|
|
|
|
|
|
|
Cost of Revenue |
1,541.1 |
1,076.7 |
1,058.8 |
756.0 |
853.5 |
|
Cost of Revenue, Total |
1,541.1 |
1,076.7 |
1,058.8 |
756.0 |
853.5 |
|
Gross Profit |
66.3 |
57.4 |
75.5 |
51.8 |
76.7 |
|
|
|
|
|
|
|
|
Selling/General/Administrative Expense |
18.3 |
11.2 |
15.6 |
10.5 |
12.7 |
|
Labor & Related Expense |
17.7 |
12.8 |
15.6 |
12.2 |
11.9 |
|
Advertising Expense |
0.5 |
0.5 |
0.7 |
0.2 |
0.2 |
|
Total Selling/General/Administrative Expenses |
36.4 |
24.5 |
31.9 |
22.9 |
24.8 |
|
Research & Development |
11.0 |
11.9 |
20.9 |
8.8 |
7.6 |
|
Depreciation |
1.1 |
1.0 |
1.2 |
1.2 |
0.7 |
|
Amortization of Intangibles |
0.4 |
- |
0.7 |
- |
- |
|
Depreciation/Amortization |
1.5 |
1.0 |
1.9 |
1.2 |
0.7 |
|
Total Operating Expense |
1,590.0 |
1,114.1 |
1,113.5 |
788.9 |
886.5 |
|
|
|
|
|
|
|
|
Operating Income |
21.9 |
20.1 |
20.8 |
18.9 |
43.7 |
|
|
|
|
|
|
|
|
Interest Expense -
Non-Operating |
-1.8 |
-1.2 |
-5.1 |
-3.5 |
-0.6 |
|
Interest Expense, Net Non-Operating |
-1.8 |
-1.2 |
-5.1 |
-3.5 |
-0.6 |
|
Interest Income -
Non-Operating |
0.6 |
0.6 |
0.9 |
0.1 |
0.1 |
|
Investment Income -
Non-Operating |
-7.1 |
-4.5 |
-12.4 |
-3.7 |
-0.8 |
|
Interest/Investment Income - Non-Operating |
-6.5 |
-3.9 |
-11.4 |
-3.6 |
-0.7 |
|
Interest Income (Expense) - Net Non-Operating Total |
-8.3 |
-5.2 |
-16.5 |
-7.1 |
-1.3 |
|
Gain (Loss) on Sale of Assets |
-2.0 |
-2.9 |
-0.8 |
-0.2 |
-2.6 |
|
Other Non-Operating Income (Expense) |
5.0 |
5.9 |
-0.1 |
3.6 |
-0.2 |
|
Other, Net |
5.0 |
5.9 |
-0.1 |
3.6 |
-0.2 |
|
Income Before Tax |
16.6 |
17.9 |
3.4 |
15.2 |
39.6 |
|
|
|
|
|
|
|
|
Total Income Tax |
5.8 |
1.9 |
2.8 |
4.9 |
-2.5 |
|
Income After Tax |
10.9 |
15.9 |
0.6 |
10.3 |
42.0 |
|
|
|
|
|
|
|
|
Minority Interest |
-0.5 |
-4.3 |
2.0 |
- |
- |
|
Equity In Affiliates |
-1.6 |
- |
3.2 |
- |
- |
|
Net Income Before Extraord Items |
8.8 |
11.6 |
5.8 |
10.3 |
42.0 |
|
Discontinued Operations |
- |
5.0 |
- |
-0.4 |
- |
|
Total Extraord Items |
- |
5.0 |
- |
-0.4 |
- |
|
Net Income |
8.8 |
16.6 |
5.8 |
9.9 |
42.0 |
|
|
|
|
|
|
|
|
Income Available to Common Excl Extraord Items |
8.8 |
11.6 |
5.8 |
10.3 |
42.0 |
|
|
|
|
|
|
|
|
Income Available to Common Incl Extraord Items |
8.8 |
16.6 |
5.8 |
9.9 |
42.0 |
|
|
|
|
|
|
|
|
Basic/Primary Weighted Average Shares |
6.9 |
6.7 |
6.8 |
6.9 |
6.9 |
|
Basic EPS Excl Extraord Items |
1.27 |
1.73 |
0.85 |
1.50 |
6.13 |
|
Basic/Primary EPS Incl Extraord Items |
1.27 |
2.47 |
0.85 |
1.45 |
6.13 |
|
Dilution Adjustment |
0.0 |
0.0 |
0.0 |
- |
- |
|
Diluted Net Income |
8.8 |
16.6 |
5.8 |
9.9 |
42.0 |
|
Diluted Weighted Average Shares |
6.9 |
6.7 |
6.8 |
6.9 |
6.9 |
|
Diluted EPS Excl Extraord Items |
1.27 |
1.73 |
0.85 |
1.50 |
6.13 |
|
Diluted EPS Incl Extraord Items |
1.27 |
2.47 |
0.85 |
1.45 |
6.13 |
|
Dividends per Share - Common Stock Primary Issue |
0.22 |
0.18 |
0.21 |
0.25 |
0.48 |
|
Gross Dividends - Common Stock |
1.6 |
1.2 |
1.4 |
1.7 |
3.3 |
|
Interest Expense, Supplemental |
1.8 |
1.2 |
5.1 |
3.5 |
0.6 |
|
Depreciation, Supplemental |
11.2 |
10.8 |
13.3 |
10.4 |
6.9 |
|
Total Special Items |
2.1 |
3.7 |
0.8 |
0.2 |
2.6 |
|
Normalized Income Before Tax |
18.8 |
21.5 |
4.2 |
15.4 |
42.1 |
|
|
|
|
|
|
|
|
Effect of Special Items on Income Taxes |
0.7 |
0.3 |
0.3 |
0.1 |
0.9 |
|
Inc Tax Ex Impact of Sp Items |
6.4 |
2.2 |
3.1 |
4.9 |
-1.6 |
|
Normalized Income After Tax |
12.3 |
19.3 |
1.1 |
10.4 |
43.7 |
|
|
|
|
|
|
|
|
Normalized Inc. Avail to Com. |
10.2 |
15.0 |
6.3 |
10.4 |
43.7 |
|
|
|
|
|
|
|
|
Basic Normalized EPS |
1.48 |
2.23 |
0.93 |
1.52 |
6.38 |
|
Diluted Normalized EPS |
1.48 |
2.23 |
0.93 |
1.52 |
6.38 |
|
Amort of Acquisition Costs, Supplemental |
0.1 |
0.7 |
- |
- |
- |
|
Amort of Intangibles, Supplemental |
0.5 |
0.1 |
0.1 |
0.4 |
0.0 |
|
Rental Expenses |
1.2 |
1.0 |
1.3 |
0.9 |
0.7 |
|
Advertising Expense, Supplemental |
0.5 |
0.5 |
0.7 |
0.2 |
0.2 |
|
Research & Development Exp, Supplemental |
11.0 |
11.9 |
20.9 |
8.8 |
7.6 |
|
Normalized EBIT |
21.9 |
20.1 |
20.8 |
18.9 |
43.7 |
|
Normalized EBITDA |
33.8 |
31.7 |
34.2 |
29.7 |
50.6 |
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 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.24 |
|
UK Pound |
1 |
Rs.76.80 |
|
Euro |
1 |
Rs.67.17 |
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.