MIRA INFORM REPORT

 

 

Report Date :           

12.09.2011

 

IDENTIFICATION DETAILS

 

Name :

UNION CORPORATION

 

 

Registered Office :

13F, Dongyang Chemical Bldg, 50, Sogong-Dong, Jung-Gu, Seoul, 100-718

 

 

Country :

South korea

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

06.12.1952

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

manufacture and sale of cement and valuable metals

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

NOTES :

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

 

 

ECGC Country Risk Classification List – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

South korea

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address 

 

Union Corporation

13F, Dongyang Chemical Bldg

50, Sogong-Dong

Jung-Gu

Seoul, 100-718

Korea, Republic of

Tel:       82-2-7573801

Fax:      82-2-7573807

Web:    www.union21.co.kr

           

 

Synthesis

 

Employees:                  248

Company Type:            Public Independent

Traded:                         Korea Stock Exchange:  000910

Incorporation Date:         06-Dec-1952

Auditor:                        KPMG LLP       

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2010

Reporting Currency:       South Korean Won

Annual Sales:                102.4  1

Net Income:                   9.3

Total Assets:                 372.3  2

Market Value:                101.1

(26-Aug-2011)

 

 

Business Description     

 

Union Corporation is a Korea-based company principally engaged in the manufacture and sale of cement and valuable metals. The Company operates its business under two divisions. Its cement division is involved in the manufacturing of white Portland cements, alumina cements, hardening cements and tile adhesive cements, which are used as construction materials and others. Its valuable metals division provides vanadium, molybdenum and others used for manufacturing of steel. In addition, the Company also provides white fused alumina, high-strength grouts, non-shrinking grouts, hardening grouts, tile adhesives, tile bonds, mortars and others. As of December 31, 2010, the Company had one subsidiary and two affiliated companies. For the three months ended 31 March 2011, Union Corporation's revenues increased 7% to W29.79B. The Company's net income increased 46% to W3.98B. Revenues reflect increased finished product revenues and merchandise revenues. Net income also benefited from increased dividend income as well as decreased interest expense. Union Corporation is a Korea-based company principally engaged in the manufacture and sale of cement and valuable metals.

 

Industry

Industry            Construction - Raw Materials

ANZSIC 2006:    2031 - Cement and Lime Manufacturing

NACE 2002:      2651 - Manufacture of cement

NAICS 2002:     32731 - Cement Manufacturing

UK SIC 2003:    2651 - Manufacture of cement

US SIC 1987:    3241 - Cement, Hydraulic

 

           

Key Executives   

 

Name

Title

Byeong Ho Kang

President, Co-Chief Executive Officer, Director

Geon Yeong Lee

Chairman of the Board, Co-Chief Executive Officer

Yeong Bae Lee

Internal Auditor

Geun Young Lee

Co-President & Co-Chief Executive Officer

Deok Jung Youn

Manager-Finance

 

 Bottom of Form

 

Significant Developments

 

Topic

#*

Most Recent Headline

Date

Strategic Combinations

3

Union Corporation Cancels Establishment of Joint Venture with ENERTEC CO., LTD.

8-Jul-2011

Dividends

2

Union Corporation Declares Annual Cash Dividend for FY 2010

4-Mar-2011

 

* number of significant developments within the last 12 months     

 

 

News 

 

Title

Date

New York Mellon Chief Resigns in a Shake-Up
New York Times (867 Words)

1-Sep-2011

The Philadelphia Inquirer PhillyDeals column
Philadelphia Inquirer (PA) (700 Words)

24-Aug-2011

Energy reborn at former IBM site
Charlotte Observer (NC) (1393 Words)

23-Aug-2011

In key step, FNB lines up $310M investment
Charlotte Observer (NC) (1055 Words)

3-Aug-2011

California cancels Sacramento firm's contract to provide firefighting planes
Sacramento Bee (CA) (488 Words)

30-Jul-2011

Financial Summary    

 

As of 30-Jun-2011

Key Ratios

Company

Industry

Current Ratio (MRQ)

1.50

2.04

Quick Ratio (MRQ)

0.83

1.12

Debt to Equity (MRQ)

0.06

1.04

Sales 5 Year Growth

13.87

-0.71

Net Profit Margin (TTM) %

9.03

-1.38

Return on Assets (TTM) %

2.69

-0.0060

Return on Equity (TTM) %

3.65

-2.72

 

 

Stock Snapshot  

 

 

Traded: Korea Stock Exchange: 000910

 

As of 26-Aug-2011

   Financials in: KRW

Recent Price

7,340.00

 

EPS

769.01

52 Week High

16,150.00

 

Price/Sales

0.92

52 Week Low

6,199.99

 

Dividend Rate

50.00

Avg. Volume (mil)

0.24

 

Price/Earnings

12.61

Market Value (mil)

109,368.50

 

Price/Book

0.32

 

 

 

Beta

1.71

 

Price % Change

Rel S&P 500%

4 Week

-28.39%

-14.13%

13 Week

-32.04%

-19.76%

52 Week

13.51%

10.38%

Year to Date

-25.86%

-14.53%

 

 

 

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

13F, Dongyang Chemical Bldg

50, Sogong-Dong

Jung-Gu

Seoul, 100-718

Korea, Republic of

Tel:       82-2-7573801

Fax:      82-2-7573807

Web:    www.union21.co.kr

           

Quote Symbol - Exchange

000910 - Korea Stock Exchange

 

Sales KRW(mil):            118,350.7

Assets KRW(mil):          422,529.8

Employees:                   248

Fiscal Year End:            31-Dec-2010

Industry:                        Construction - Raw Materials

Incorporation Date:         06-Dec-1952

Company Type:             Public Independent

Quoted Status:              Quoted

President, Co-Chief

Executive Officer,

Director:                        Byeong Ho Kang

 

Company Web Links

·         Company Contact/E-mail

·         Corporate History/Profile

·         Home Page

·         Products/Services

 

Contents

·         Industry Codes

·         Business Description

·         Financial Data

·         Market Data

·         Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

0809     -          Other Metal Ore Mining

2031     -          Cement and Lime Manufacturing

 

NACE 2002 Codes:

1320     -          Mining of non-ferrous metal ores, except uranium and thorium ores

2651     -          Manufacture of cement

 

NAICS 2002 Codes:

212299  -          All Other Metal Ore Mining

32731   -          Cement Manufacturing

212291  -          Uranium-Radium-Vanadium Ore Mining

 

US SIC 1987:

1061     -          Ferroalloy Ores, Except Vanadium

3241     -          Cement, Hydraulic

1094     -          Uranium-Radium-Vanadium Ores

 

UK SIC 2003:

2651     -          Manufacture of cement

1320     -          Mining of non-ferrous metal ores, except uranium and thorium ores

 

Business Description

Union Corporation is a Korea-based company principally engaged in the manufacture and sale of cement and valuable metals. The Company operates its business under two divisions. Its cement division is involved in the manufacturing of white Portland cements, alumina cements, hardening cements and tile adhesive cements, which are used as construction materials and others. Its valuable metals division provides vanadium, molybdenum and others used for manufacturing of steel. In addition, the Company also provides white fused alumina, high-strength grouts, non-shrinking grouts, hardening grouts, tile adhesives, tile bonds, mortars and others. As of December 31, 2010, the Company had one subsidiary and two affiliated companies. For the three months ended 31 March 2011, Union Corporation's revenues increased 7% to W29.79B. The Company's net income increased 46% to W3.98B. Revenues reflect increased finished product revenues and merchandise revenues. Net income also benefited from increased dividend income as well as decreased interest expense. Union Corporation is a Korea-based company principally engaged in the manufacture and sale of cement and valuable metals.

 

More Business Descriptions

·         Manufacture of white cement and tile cement

·         Cement Manufacturing

 

Financial Data

Financials in:

KRW(mil)

 

Revenue:

118,350.7

Net Income:

10,713.7

Assets:

422,529.8

Long Term Debt:

5,590.6

 

Total Liabilities:

115,833.0

 

Working Capital:

2.7

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

25.1%

70.7%

37.2%

Market Data

Quote Symbol:

000910

Exchange:

Korea Stock Exchange

Currency:

KRW

Stock Price:

7,340.0

Stock Price Date:

08-26-2011

52 Week Price Change %:

13.5

Market Value (mil):

109,368,496.0

 

SEDOL:

6922799

ISIN:

KR7000910000

 


Equity and Dept Distribution:

All the financials reflect non-conso. data. FY'05, 1Q & 2Q are CLA, 4Q is RES. FY'06, Q's are RES. 12/2003, 5% stock dividend. FY'07, 4Q is RES(6 mo. data). FY'04, 2Q & 4Q are RES, 1Q is CLA. FY'04 & FY'05, financials are restated. '5/08, 10-for-1 stock split. Q3/08 & Q2/09 WAS is estimated by EPS. 09/09 WAS from O/S.

 

Key Corporate Relationships

Auditor: KPMG LLP

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Geon Yeong Lee

 

Chairman of the Board, Co-Chief Executive Officer

Chairman

 

Reuters Biography (Union Corporation)

Lee Geon Yeong is Chairman of the Board and Co-Chief Executive Officer of Union Corporation. Lee was Co-President of the Company previously. Lee holds a Master's degree from Michigan State University, the United States.



M , Michigan State University

Ji Seok Goh

 

Non-Executive Independent Director

Director/Board Member

 

 

Reuters Biography (Union Corporation)

Goh Ji Seok is Non-Executive Independent Director of Union Corporation. Goh is a Certified Tax Agent. Goh holds a Master of Business Administration from Kyung Hee University, Korea.



MBA , Kyung Hee University

Wun Gyo Jung

 

Managing Director

Director/Board Member

 

 

Reuters Biography (Union Corporation)

Jung Wun Gyo is Managing Director of Union Corporation. Jung used to be Assistant Managing Director of the Company. Jung was also a team leader of OCI. Jung holds a Bachelor of Business Administration from Hongik University, Korea.



BBA , Hongik University

Byeong Ho Kang

 

President, Co-Chief Executive Officer, Director

Director/Board Member

 

 

Reuters Biography (Union Corporation)

Kang Byeong Ho is President, Co-Chief Executive Officer and Director of Union Corporation. Kang was previously Managing Director of DC CHEMICAL CO.,LTD and OCI. Kang holds a Bachelor's degree in Polymer Engineering from Pusan National University, Korea.



B , Pusan National University

 

Executives

 

Name

Title

Function

 

Byeong Ho Kang

 

President, Co-Chief Executive Officer, Director

Chief Executive Officer

 

Reuters Biography (Union Corporation)

Kang Byeong Ho is President, Co-Chief Executive Officer and Director of Union Corporation. Kang was previously Managing Director of DC CHEMICAL CO.,LTD and OCI. Kang holds a Bachelor's degree in Polymer Engineering from Pusan National University, Korea.



B , Pusan National University

Geun Young Lee

 

Co-President & Co-Chief Executive Officer

Chief Executive Officer

 

 

Geon Yeong Lee

 

Chairman of the Board, Co-Chief Executive Officer

Chief Executive Officer

 

 

Reuters Biography (Union Corporation)

Lee Geon Yeong is Chairman of the Board and Co-Chief Executive Officer of Union Corporation. Lee was Co-President of the Company previously. Lee holds a Master's degree from Michigan State University, the United States.



M , Michigan State University

Wun Gyo Jung

 

Managing Director

Managing Director

 

 

Reuters Biography (Union Corporation)

Jung Wun Gyo is Managing Director of Union Corporation. Jung used to be Assistant Managing Director of the Company. Jung was also a team leader of OCI. Jung holds a Bachelor of Business Administration from Hongik University, Korea.



BBA , Hongik University

Sang Hun Park

 

Assistant Managing Director

Managing Director

 

 



B Chemical Engineering, Ajou University

Hyeon Gon Seo

 

Assistant Managing Director

Managing Director

 

 



M Chemistry, Yonsei University

Dae Sung Park

 

Manager-Administration

Administration Executive

 

 

Deok Jung Youn

 

Manager-Finance

Finance Executive

 

 

Yeong Bae Lee

 

Internal Auditor

Accounting Executive

 

 

Reuters Biography (Union Corporation)

Lee Yeong Bae is Internal Auditor of Union Corporation. Lee was Internal Auditor of DC Chemical and OCI previously. Lee holds a Bachelor of Law from Sungkyunkwan Universtiy, Korea.



LLB , Sungkyunkwan University

Sang-Hoon Park

 

Manager-Sales

Sales Executive

 

 

Hyun Gon Suh

 

Manager-Planning

Planning Executive

 

 

Jang Soo Kim

 

Manager-Business

Other

 

 

B. K. Lee

 

Co-Manager

Other

 

 

E. H. Lee

 

Co-Manager

Other

 

 

Heon Jae Sung

 

Manager-Privacy Policy

Other

 

 

 

 

Significant Developments

 

Union Corporation Cancels Establishment of Joint Venture with ENERTEC CO., LTD. Jul 08, 2011

 

Union Corporation announced that it has canceled the establishment of a joint venture Unitec, with ENERTEC CO., LTD., initially announced on December 20, 2010.

 

Union Corporation Declares Annual Cash Dividend for FY 2010 Mar 04, 2011

 

Union Corporation announced that it has declared an annual cash dividend of KRW 50 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 0.49% and the total amount of the cash dividend is KRW 677,445,000. The Company's annual cash dividend for the fiscal year 2009 was KRW 75 per share.

 

Union Corporation Establishes Joint Venture Company with ENERTEC CO., LTD. Dec 20, 2010

 

Union Corporation announced that it has decided to establish a joint venture Unitec, with ENERTEC CO., LTD., to sign an agreement with an Asia-based trading company for establishment of a new ferronickel smelt company. The Company will hold a 50% stake in the new entity.

 

Union Corporation Declares Annual Stock Dividend for FY 2010 Dec 15, 2010

 

Union Corporation announced that it has declared an annual stock dividend to its shareholders of record on December 31, 2010. The Company will offer 677,445 shares of its common stock to the shareholders in a ratio of 0.05:1 (0.05 shares of dividend stock for each share held).

 

Union Corporation to Form Consortium for Ferronickel Company Dec 07, 2010

 

Union Corporation announced that it will form a consortium with ENERTEC CO., LTD. to construct a ferronickel company together with Korea Resources Corporation and one of Asia's largest trading company . The consortium will hold a 51% stake in the new ferronickel company.

 

Annual Income Statement

 

Financials in: USD (mil)

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

PricewaterhouseCoopers LLP

Samil Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

102.4

74.1

94.0

69.1

66.4

Revenue

102.4

74.1

94.0

69.1

66.4

Total Revenue

102.4

74.1

94.0

69.1

66.4

 

 

 

 

 

 

    Cost of Revenue

81.7

60.3

79.4

58.2

53.8

Cost of Revenue, Total

81.7

60.3

79.4

58.2

53.8

Gross Profit

20.7

13.9

14.6

10.9

12.6

 

 

 

 

 

 

    Selling/General/Administrative Expense

5.5

5.3

6.5

6.3

5.9

    Labor & Related Expense

3.4

2.6

3.0

3.0

2.9

    Advertising Expense

0.1

0.0

0.1

0.1

0.1

Total Selling/General/Administrative Expenses

9.0

7.9

9.5

9.3

8.8

Research & Development

0.6

0.5

0.6

0.7

0.7

    Depreciation

0.2

0.1

0.2

0.2

0.2

    Amortization of Intangibles

0.0

0.0

0.0

0.1

0.1

Depreciation/Amortization

0.2

0.2

0.2

0.2

0.3

Total Operating Expense

91.5

68.8

89.6

68.5

63.5

 

 

 

 

 

 

Operating Income

10.9

5.3

4.4

0.6

2.8

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.9

-1.4

-1.9

-1.8

-0.9

    Interest Expense, Net Non-Operating

-0.9

-1.4

-1.9

-1.8

-0.9

        Interest Income - Non-Operating

0.3

0.5

0.5

0.5

0.2

        Investment Income - Non-Operating

1.1

1.2

0.8

4.0

3.3

    Interest/Investment Income - Non-Operating

1.4

1.7

1.3

4.4

3.6

Interest Income (Expense) - Net Non-Operating Total

0.5

0.2

-0.6

2.6

2.6

Gain (Loss) on Sale of Assets

0.0

0.8

-0.4

0.0

0.0

    Other Non-Operating Income (Expense)

0.5

0.1

0.0

0.4

0.1

Other, Net

0.5

0.1

0.0

0.4

0.1

Income Before Tax

11.9

6.4

3.4

3.6

5.6

 

 

 

 

 

 

Total Income Tax

2.6

1.5

-0.6

0.4

1.3

Income After Tax

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Net Income Before Extraord Items

9.3

4.9

4.0

3.2

4.3

Net Income

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

13.9

14.0

14.2

13.7

13.1

Basic EPS Excl Extraord Items

0.67

0.35

0.28

0.23

0.33

Basic/Primary EPS Incl Extraord Items

0.67

0.35

0.28

0.23

0.33

Dilution Adjustment

0.0

-

-

-

-

Diluted Net Income

9.3

4.9

4.0

3.2

4.3

Diluted Weighted Average Shares

13.9

14.0

14.2

13.7

13.1

Diluted EPS Excl Extraord Items

0.67

0.35

0.28

0.23

0.33

Diluted EPS Incl Extraord Items

0.67

0.35

0.28

0.23

0.33

Dividends per Share - Common Stock Primary Issue

0.04

0.06

0.05

0.05

0.05

Gross Dividends - Common Stock

0.6

0.8

0.8

0.8

0.7

Interest Expense, Supplemental

0.9

1.4

1.9

1.8

0.9

Depreciation, Supplemental

3.4

4.2

4.6

4.3

3.8

Total Special Items

0.0

-0.8

0.4

0.0

0.0

Normalized Income Before Tax

11.9

5.6

3.8

3.6

5.6

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

-0.2

0.1

0.0

0.0

Inc Tax Ex Impact of Sp Items

2.6

1.3

-0.5

0.4

1.3

Normalized Income After Tax

9.3

4.3

4.2

3.2

4.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

9.3

4.3

4.2

3.2

4.3

 

 

 

 

 

 

Basic Normalized EPS

0.67

0.31

0.30

0.23

0.32

Diluted Normalized EPS

0.67

0.31

0.30

0.23

0.32

Amort of Intangibles, Supplemental

0.0

0.0

0.0

0.1

0.1

Rental Expenses

0.3

0.3

0.3

0.4

0.3

Advertising Expense, Supplemental

0.1

0.0

0.1

0.1

0.1

Research & Development Exp, Supplemental

0.6

0.5

0.6

0.7

0.7

Normalized EBIT

10.9

5.3

4.4

0.6

2.8

Normalized EBITDA

14.3

9.5

9.0

5.0

6.7

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Reclassified Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

PricewaterhouseCoopers LLP

Samil Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

6.3

0.8

4.8

8.3

5.2

    Short Term Investments

0.1

6.1

5.7

0.0

0.2

Cash and Short Term Investments

6.5

6.9

10.5

8.3

5.5

        Accounts Receivable - Trade, Gross

22.8

24.0

23.1

28.3

27.0

        Provision for Doubtful Accounts

-0.8

-1.2

-1.7

-1.6

-1.5

    Trade Accounts Receivable - Net

22.0

22.8

21.5

26.7

25.4

    Other Receivables

0.0

0.0

0.0

0.6

0.1

Total Receivables, Net

22.0

22.8

21.5

27.3

25.5

    Inventories - Finished Goods

8.4

4.8

3.9

3.6

2.2

    Inventories - Work In Progress

4.1

3.8

2.7

6.8

2.9

    Inventories - Raw Materials

7.9

5.8

3.2

5.8

3.1

    Inventories - Other

4.3

2.2

0.2

1.1

0.3

Total Inventory

24.7

16.7

10.0

17.3

8.5

Prepaid Expenses

0.0

0.0

0.0

0.0

0.0

    Deferred Income Tax - Current Asset

0.4

0.4

0.8

0.4

0.4

    Other Current Assets

-

-

1.4

-

-

Other Current Assets, Total

0.4

0.4

2.2

0.4

0.4

Total Current Assets

53.6

46.8

44.3

53.3

39.9

 

 

 

 

 

 

        Buildings

16.2

14.9

14.0

18.8

15.3

        Land/Improvements

11.4

10.2

9.8

13.2

13.4

        Machinery/Equipment

47.3

41.1

37.7

51.9

35.3

        Construction in Progress

0.6

0.0

-

0.1

8.9

    Property/Plant/Equipment - Gross

75.4

66.3

61.6

84.0

72.8

    Accumulated Depreciation

-31.9

-27.9

-22.4

-28.3

-24.3

Property/Plant/Equipment - Net

43.5

38.4

39.1

55.7

48.5

Intangibles, Net

0.1

0.2

0.2

0.3

0.3

    LT Investment - Affiliate Companies

2.7

2.5

2.5

2.6

42.3

    LT Investments - Other

271.8

175.9

163.8

251.2

1.5

Long Term Investments

274.5

178.5

166.3

253.8

43.8

Note Receivable - Long Term

0.2

0.3

0.0

0.2

0.3

    Other Long Term Assets

0.3

0.4

0.4

0.4

0.4

Other Long Term Assets, Total

0.3

0.4

0.4

0.4

0.4

Total Assets

372.3

264.4

250.3

363.6

133.2

 

 

 

 

 

 

Accounts Payable

12.6

10.1

9.7

8.2

9.3

Accrued Expenses

0.5

0.3

0.8

1.4

0.8

Notes Payable/Short Term Debt

13.2

10.8

15.5

25.6

18.9

Current Portion - Long Term Debt/Capital Leases

2.5

5.0

2.3

0.2

0.1

    Customer Advances

1.4

0.6

0.8

0.2

0.1

    Security Deposits

0.1

0.1

0.1

0.2

0.1

    Income Taxes Payable

2.2

0.9

1.1

0.8

0.4

    Other Payables

4.4

1.6

1.5

1.2

6.9

    Other Current Liabilities

0.5

0.4

0.2

0.2

0.2

Other Current liabilities, Total

8.7

3.7

3.7

2.5

7.7

Total Current Liabilities

37.5

29.9

31.9

37.9

36.9

 

 

 

 

 

 

    Long Term Debt

4.9

7.3

11.4

18.4

3.1

Total Long Term Debt

4.9

7.3

11.4

18.4

3.1

Total Debt

20.7

23.1

29.2

44.1

22.1

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

58.3

37.3

34.7

66.8

9.5

Deferred Income Tax

58.3

37.3

34.7

66.8

9.5

    Reserves

0.2

-

-

-

-

    Pension Benefits - Underfunded

1.1

0.9

1.0

1.2

1.1

Other Liabilities, Total

1.3

0.9

1.0

1.2

1.1

Total Liabilities

102.1

75.4

79.0

124.2

50.5

 

 

 

 

 

 

    Common Stock

6.3

6.1

5.6

7.6

7.6

Common Stock

6.3

6.1

5.6

7.6

7.6

Additional Paid-In Capital

21.4

20.8

19.3

25.9

22.0

Retained Earnings (Accumulated Deficit)

64.0

54.1

45.7

57.6

55.5

Treasury Stock - Common

-4.4

-0.8

-0.7

-

-1.0

Unrealized Gain (Loss)

183.0

108.8

101.4

148.3

-1.4

Total Equity

270.2

189.0

171.3

239.4

82.7

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

372.3

264.4

250.3

363.6

133.2

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

13.5

14.0

14.0

14.2

13.1

Total Common Shares Outstanding

13.5

14.0

14.0

14.2

13.1

Treasury Shares - Common Stock Primary Issue

0.7

0.2

0.2

-

1.1

Employees

243

241

240

237

235

Number of Common Shareholders

4,536

4,527

3,313

2,532

1,362

Deferred Revenue - Current

1.4

0.6

0.8

0.2

0.1

Total Long Term Debt, Supplemental

7.4

12.3

13.6

18.5

3.1

Long Term Debt Maturing within 1 Year

2.5

5.0

2.3

0.2

0.1

Long Term Debt Maturing in Year 2

2.5

2.5

4.7

3.1

0.2

Long Term Debt Maturing in Year 3

2.4

2.4

2.3

6.3

0.6

Long Term Debt Maturing in Year 4

0.0

2.3

2.2

3.1

0.6

Long Term Debt Maturing in Year 5

0.0

0.0

2.2

3.0

-

Long Term Debt Maturing in 2-3 Years

4.8

4.9

6.9

9.3

0.8

Long Term Debt Maturing in 4-5 Years

0.0

2.3

4.4

6.0

0.6

Long Term Debt Matur. in Year 6 & Beyond

0.1

0.1

0.1

3.0

1.7

 

Annual Cash Flows

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

PricewaterhouseCoopers LLP

Samil Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

9.3

4.9

4.0

3.2

4.3

    Depreciation

3.4

4.2

4.6

4.3

3.8

Depreciation/Depletion

3.4

4.2

4.6

4.3

3.8

    Amortization of Intangibles

0.0

0.0

0.0

0.1

0.1

Amortization

0.0

0.0

0.0

0.1

0.1

Deferred Taxes

-0.1

0.4

-2.2

0.6

1.1

    Unusual Items

1.1

-2.5

0.2

-0.1

0.2

    Equity in Net Earnings (Loss)

-0.1

0.0

0.3

-4.1

-3.4

    Other Non-Cash Items

0.9

1.5

3.9

2.1

1.2

Non-Cash Items

2.0

-1.1

4.4

-2.1

-2.0

    Accounts Receivable

1.4

-0.2

-2.1

-1.8

-2.8

    Inventories

-7.9

-3.6

1.5

-9.3

-0.8

    Prepaid Expenses

0.0

0.0

0.0

0.0

0.1

    Other Assets

-

1.7

-

-

-

    Accounts Payable

4.9

0.1

4.8

-6.7

0.5

    Accrued Expenses

-0.3

-0.5

-0.3

0.5

0.2

    Taxes Payable

1.7

-0.7

0.6

-1.0

0.2

    Other Liabilities

-0.3

-1.3

-0.3

-1.2

-0.7

Changes in Working Capital

-0.4

-4.4

4.1

-19.5

-3.4

Cash from Operating Activities

14.1

4.1

15.0

-13.5

4.0

 

 

 

 

 

 

    Purchase of Fixed Assets

-7.4

-1.2

-3.0

-12.0

-4.7

    Purchase/Acquisition of Intangibles

0.0

0.0

0.0

0.0

-0.1

Capital Expenditures

-7.4

-1.2

-3.1

-12.0

-4.8

    Sale of Fixed Assets

0.0

1.4

0.6

0.1

0.0

    Sale/Maturity of Investment

6.1

0.1

0.0

0.2

0.0

    Purchase of Investments

0.0

0.0

-6.5

-0.3

-0.5

    Sale of Intangible Assets

-

0.0

-

-

-

    Other Investing Cash Flow

0.1

0.0

-0.1

0.7

0.7

Other Investing Cash Flow Items, Total

6.2

1.5

-5.9

0.8

0.2

Cash from Investing Activities

-1.3

0.2

-9.0

-11.2

-4.5

 

 

 

 

 

 

    Other Financing Cash Flow

-5.1

-2.2

-0.1

-0.1

0.0

Financing Cash Flow Items

-5.1

-2.2

-0.1

-0.1

0.0

Total Cash Dividends Paid

-0.9

-0.7

-0.6

-0.7

-0.6

        Sale/Issuance of Common

-

-

-

6.3

-

        Repurchase/Retirement of Common

-3.5

-

-0.9

-

-

    Common Stock, Net

-3.5

-

-0.9

6.3

-

Issuance (Retirement) of Stock, Net

-3.5

-

-0.9

6.3

-

        Short Term Debt Issued

20.8

6.6

13.7

15.9

13.1

        Short Term Debt Reduction

-18.7

-12.0

-19.7

-9.3

-11.8

    Short Term Debt, Net

2.1

-5.4

-6.0

6.7

1.3

        Long Term Debt Issued

-

-

-

15.6

2.1

    Long Term Debt, Net

-

-

-

15.6

2.1

Issuance (Retirement) of Debt, Net

2.1

-5.4

-6.0

22.3

3.4

Cash from Financing Activities

-7.4

-8.3

-7.6

27.8

2.8

 

 

 

 

 

 

Net Change in Cash

5.4

-4.0

-1.6

3.1

2.2

 

 

 

 

 

 

Net Cash - Beginning Balance

0.8

4.7

7.1

5.2

2.9

Net Cash - Ending Balance

6.2

0.7

5.5

8.4

5.1

 

 

Annual Income Statement

 

Financials in: USD (mil)          

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

PricewaterhouseCoopers LLP

Samil Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Finished Products

93.3

69.3

88.4

61.8

59.6

    Merchandise Revenues

7.5

3.6

2.4

4.3

3.3

    Construction Revenue

1.6

1.3

3.2

3.0

3.4

Total Revenue

102.4

74.1

94.0

69.1

66.4

 

 

 

 

 

 

    Cost of Finish. Good

73.3

55.8

74.6

51.7

47.8

    Cost-Merchandise

7.1

3.3

1.9

3.7

2.8

    Cost of Construction

1.3

1.2

2.9

2.8

3.2

    Salaries

2.7

2.0

2.4

2.4

2.3

    Retirement Allowance

0.4

0.3

0.3

0.3

0.3

    Employee Benefits

0.3

0.3

0.3

0.3

0.3

    Travel Expenses

0.1

0.0

0.1

0.1

0.1

    Communication Exp.

0.0

0.0

0.0

0.0

0.0

    Taxes and Dues

0.0

0.0

0.0

0.0

0.1

    Rent

0.3

0.3

0.3

0.4

0.3

    Depreciation Expense

0.2

0.1

0.2

0.2

0.2

    Amort-Intangible Assets

0.0

0.0

0.0

0.1

0.1

    Repair Expenses

0.0

0.0

0.0

0.1

0.1

    Vehicles Expense

0.4

0.3

0.3

0.3

0.3

    Insurance Expenses

0.1

0.1

0.1

0.1

0.1

    Entertainment

0.2

0.1

0.2

0.1

0.1

    Consumable Expense

0.1

0.0

0.1

0.1

0.1

    Utility Expenses

0.0

0.0

0.0

0.0

0.0

    Printing Expense

0.0

0.0

0.0

0.0

0.0

    Commissions Paid

0.5

0.5

0.5

0.6

0.7

    Education & Training

0.0

0.0

0.0

0.0

0.0

    Advertising Expense

0.1

0.0

0.1

0.1

0.1

    Shipping/Handling

3.5

3.3

3.9

4.2

3.6

    Sales Commissions

0.1

0.1

0.0

0.0

0.0

    Amort. of Bad Debts

-

0.4

0.8

0.2

0.3

    Research & Development Expense

0.6

0.5

0.6

0.7

0.7

    Miscellaneous Expenses

0.0

0.0

-

0.0

0.0

    Expenses for Samples

0.0

0.0

0.0

0.0

0.0

Total Operating Expense

91.5

68.8

89.6

68.5

63.5

 

 

 

 

 

 

    Interest Income

0.3

0.5

0.5

0.5

0.2

    Dividend Income

1.6

1.1

0.8

0.0

0.0

    G-For Curr Transactn

0.4

0.3

0.5

0.1

0.2

    Gain-Valuation of Derivatives

-

-

1.9

0.2

-

    G-For Exch Translatn

0.0

0.0

0.1

0.0

0.3

    G-Tang Asst Disposal

0.0

1.0

0.0

0.0

0.0

    Other Non-Op. Income

0.4

0.3

0.5

0.4

0.3

    Interest Expense, Non-Operating

-0.9

-1.4

-1.9

-1.8

-0.9

    L-For Curr Transactn

-0.3

-0.2

-0.3

-0.1

-0.1

    L-For Exch Translatn

0.0

0.0

-2.0

-0.3

-0.2

    Donations Paid

0.0

0.0

0.0

0.0

0.0

    L-Tang.Asst Disposal

0.0

-0.2

-0.4

0.0

0.0

    Reversal of Allowance for Doubtful Accou

0.6

-

-

-

-

    Retirement Bonus Expense

-

-0.1

-0.4

-

-

    Additional Income Taxes Paid

-

-

-

-

0.0

    Loss-Valuation of Derivative

-

-

-

-

-0.2

    Other Non-Op Expense

-0.4

-0.1

-0.2

0.0

-0.2

    Loss-Reduction of Investment Securities

-0.6

-

-

0.0

-

    Gains under Equity Method

0.1

0.0

-

4.2

3.7

    Loss under Equity Method

-

-

-0.3

-0.1

-0.3

Net Income Before Taxes

11.9

6.4

3.4

3.6

5.6

 

 

 

 

 

 

Provision for Income Taxes

2.6

1.5

-0.6

0.4

1.3

Net Income After Taxes

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Net Income Before Extra. Items

9.3

4.9

4.0

3.2

4.3

Net Income

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Income Available to Com Excl E

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Income Available to Com Incl E

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Basic Weighted Average Shares

13.9

14.0

14.2

13.7

13.1

Basic EPS Excluding ExtraOrdin

0.67

0.35

0.28

0.23

0.33

Basic EPS Including ExtraOrdin

0.67

0.35

0.28

0.23

0.33

Dilution Adjustment

0.0

-

-

-

-

Diluted Net Income

9.3

4.9

4.0

3.2

4.3

Diluted Weighted Average Share

13.9

14.0

14.2

13.7

13.1

Diluted EPS Excluding ExtraOrd

0.67

0.35

0.28

0.23

0.33

Diluted EPS Including ExtraOrd

0.67

0.35

0.28

0.23

0.33

DPS-Common Stock

0.04

0.06

0.05

0.05

0.05

Gross Dividends - Common Stock

0.6

0.8

0.8

0.8

0.7

Normalized Income Before Taxes

11.9

5.6

3.8

3.6

5.6

 

 

 

 

 

 

Inc Tax Ex. Impact of Sp Items

2.6

1.3

-0.5

0.4

1.3

Normalized Income After Taxes

9.3

4.3

4.2

3.2

4.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

9.3

4.3

4.2

3.2

4.3

 

 

 

 

 

 

Basic Normalized EPS

0.67

0.31

0.30

0.23

0.32

Diluted Normalized EPS

0.67

0.31

0.30

0.23

0.32

Interest Expense, Supplemental

0.9

1.4

1.9

1.8

0.9

Rental Expense, Supplemental

0.3

0.3

0.3

0.4

0.3

R&D Expense, Supplemental

0.6

0.5

0.6

0.7

0.7

Advertising Expense, Supplemental

0.1

0.0

0.1

0.1

0.1

Depreciation, Supplemental

3.4

4.2

4.6

4.3

3.8

Amort of Intangibles, Supplemental

0.0

0.0

0.0

0.1

0.1

 

 

 

Annual Balance Sheet

 

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Reclassified Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

PricewaterhouseCoopers LLP

Samil Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash/Equivalents

6.3

0.8

4.8

8.3

5.2

    ST Finl Assets

0.0

6.1

5.6

-

0.2

    ST Investment Assets

0.1

0.0

0.0

0.0

0.0

    Derivatives

-

-

1.4

-

-

    Trade Rcvbls,G

22.8

24.0

23.1

28.3

27.0

    Allw-Doubtful Ac

-0.8

-1.2

-1.7

-1.6

-1.5

    Other Rcvbls

-

-

0.0

0.6

0.1

    Other Receivables

0.0

0.0

-

-

-

    Allowance for Doubtful Accounts for Othe

0.0

0.0

-

-

-

    Advance Payments

2.4

0.0

0.0

0.9

0.0

    Prepaid Expenses

0.0

0.0

0.0

0.0

0.0

    Accrued Income

-

0.0

0.0

-

-

    Current Dfrd TAxes

0.4

0.4

0.8

0.4

0.4

    Merchandise

0.1

0.1

0.1

0.3

0.3

    Goods in Transit

-

-

-

1.3

-

    Finished Goods

8.5

4.8

3.8

2.1

1.9

    Allowance for Loss on Valuation of Finis

-0.3

0.0

-

-

-

    Goods in Transit

1.8

2.1

-

-

-

    Works in Process

4.3

3.9

2.7

6.8

2.9

    Allowance for Loss on Valuation of Works

-0.2

-0.1

-

-

-

    Raw Materials

6.7

4.7

2.1

4.7

2.1

    Allowance for Loss on Valuation of Raw M

-0.1

-

-

-

-

    Suppl. Material

1.3

1.1

1.2

1.2

1.0

    Stored Goods

0.2

0.1

0.2

0.1

0.2

Total Current Assets

53.6

46.8

44.3

53.3

39.9

 

 

 

 

 

 

    LT Finl Assets

0.0

0.0

0.0

0.0

0.0

    LT Investment Stock

271.5

175.6

163.5

250.8

1.4

    Inv. Secs. Under Equity Method

2.7

2.5

2.5

2.6

42.3

    LT Trade Rcvbls.

-

-

0.0

0.2

0.3

    Long-term Trade Receivables

0.4

1.0

-

-

-

    Allowance for Doubtful Accounts for Long

-0.1

-0.8

-

-

-

    LT Guarantee Dep

0.3

0.4

0.4

0.4

0.4

    Other Inv Assets

0.3

0.3

0.3

0.4

0.1

    Land

11.4

10.2

9.8

13.2

13.4

    Buildings

14.5

13.4

12.7

17.0

13.5

    Deprec-Buildings

-3.1

-2.7

-2.2

-2.6

-2.3

    Structures

1.6

1.5

1.4

1.8

1.8

    Deprec-Structure

-0.8

-0.7

-0.6

-0.7

-0.6

    Machinery/Equip.

45.6

39.6

35.5

49.1

33.0

    Depr-Mach/Equip.

-26.8

-23.5

-18.1

-23.1

-19.6

    Transport Equip.

0.8

0.8

0.9

1.3

1.3

    Deprec-Transport

-0.7

-0.6

-0.7

-0.9

-0.9

    Transport Equip.-Government Subsidies

0.0

0.0

0.0

-0.1

-0.1

    Tools/Equipments

0.5

0.4

0.7

1.0

0.6

    Depr-Tool/Equip

-0.3

-0.2

-0.4

-0.5

-0.5

    Fixtures

0.4

0.3

0.5

0.6

0.5

    Deprec-Fixtures

-0.2

-0.2

-0.4

-0.4

-0.4

    Construction in Progress

0.6

0.0

-

0.1

8.9

    Industrial Patnt

0.0

0.0

0.0

0.0

0.0

    Mining Rights

0.1

0.1

0.1

0.2

0.2

    Usage Right-Facility

-

-

-

0.0

0.0

    Development Cost

0.0

0.0

0.0

0.1

0.1

    Other Intangibles

0.0

0.0

0.0

0.0

0.0

Total Assets

372.3

264.4

250.3

363.6

133.2

 

 

 

 

 

 

    Trade Payable

12.6

10.1

9.7

8.2

9.3

    Other Payables

4.4

1.6

1.5

1.2

6.9

    ST Borrowings

13.2

10.8

15.5

25.6

18.9

    Advances Receivd

1.4

0.6

0.8

0.2

0.1

    Deposit Withheld

0.5

0.3

0.2

0.2

0.2

    Accrued Expenses

0.0

0.3

0.8

1.4

0.8

    Income Taxes Payable

2.2

0.9

1.1

0.8

0.4

    Sec Dep Withheld

0.1

0.1

0.1

0.2

0.1

    Derivatives in Current Liabilities

-

0.0

-

-

-

    Current LT Liab.

2.5

5.0

2.3

0.2

0.1

    VAT Withheld

0.5

0.0

-

-

-

Total Current Liability

37.5

29.9

31.9

37.9

36.9

 

 

 

 

 

 

    LT Borrowings

4.9

7.3

11.4

18.4

3.1

Total Long Term Debt

4.9

7.3

11.4

18.4

3.1

 

 

 

 

 

 

    Deferred Income Tax, Credit

58.3

37.3

34.7

66.8

9.5

    Retirement Resrv

-

-

1.0

1.2

1.1

    Deposits for Retirement and Severance Be

-

-3.5

-

-

-

    Provisions for Retirement and Severance

4.8

4.4

-

-

-

    Transfer to National Pension Fund

0.0

0.0

-

-

-

    Plan Assets

-3.7

-

-

-

-

    Long-term Provision for Restoration in L

0.2

-

-

-

-

Total Liabilities

102.1

75.4

79.0

124.2

50.5

 

 

 

 

 

 

    Common Stock

6.3

6.1

5.6

7.6

7.6

    Paid-in Capital

5.7

5.6

5.2

6.9

7.0

    Asst Revalu Rsv

11.8

11.5

10.7

14.3

14.4

    Othr Cap Surplus

3.8

3.7

3.5

4.6

0.6

    Voluntary Reserve

49.5

43.8

37.6

24.1

24.4

    Reserve-Legal

3.0

2.8

2.5

3.3

3.2

    Ret Earn Carried

11.5

7.4

5.6

30.1

27.9

    Gain-Valuation of Investment Securities

182.4

108.3

101.0

148.7

-

    Capital Change, Equity Method

0.5

0.5

0.6

-0.2

-1.4

    G/L-Valuation of Currency Swap

-

0.0

-0.2

-0.1

0.0

    Treasury Stock

-4.4

-0.8

-0.7

-

-1.0

Total Equity

270.2

189.0

171.3

239.4

82.7

 

 

 

 

 

 

Total Liabilities & Shareholde

372.3

264.4

250.3

363.6

133.2

 

 

 

 

 

 

    S/O-Common Stock

13.5

14.0

14.0

14.2

13.1

Total Common Shares Outstandin

13.5

14.0

14.0

14.2

13.1

T/S-Common Stock

0.7

0.2

0.2

-

1.1

Deferred Revenue, Current

1.4

0.6

0.8

0.2

0.1

Full-Time Employees

243

241

240

237

235

Number of Common Shareholders

4,536

4,527

3,313

2,532

1,362

LT Debt 1 yr

2.5

5.0

2.3

0.2

0.1

LT Debt 2 yrs

2.5

2.5

4.7

3.1

0.2

LT Debt 3 yrs

2.4

2.4

2.3

6.3

0.6

LT Debt 4 yrs

0.0

2.3

2.2

3.1

0.6

LT Debt 5 yrs

0.0

0.0

2.2

3.0

-

LT Debt thereafter

0.1

0.1

0.1

3.0

1.7

Total Long Term Debt, Supplemental

7.4

12.3

13.6

18.5

3.1

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

PricewaterhouseCoopers LLP

Samil Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

9.3

4.9

4.0

3.2

4.3

    Depreciation

3.4

4.2

4.6

4.3

3.8

    Retirement Allowance

1.3

1.1

1.2

1.6

1.3

    Loss-Reduction of Investment Securities

-

-

-

0.0

-

    L-For Exch Translatn

0.0

0.0

2.0

0.2

0.2

    Loss-Valuation of Inventory

0.5

-

1.8

-

-

    Loss-Disposal of Tangible Assets

0.0

0.2

0.4

0.0

0.0

    Amort-Intangible Assets

0.0

0.0

0.0

0.1

0.1

    Provision-Doubtful Account

-

0.4

0.8

-

-

    Fee-Derivatives Transaction

-

-

-

0.0

-

    Loss Under Equity Method Valuation

-

-

0.3

0.1

0.3

    Loss-Derivative Valuation

-

-

-

-

0.2

    Impairment Losses on Investments

0.6

-

-

-

-

    Recovery of Losses on Valuation of Inven

-

-1.7

-

-

-

    G-Tangible Asst Disp

0.0

-1.0

0.0

0.0

0.0

    Gains on Valuation of Equity Method Secu

-0.1

0.0

-

-4.2

-3.7

    Gain-Derivatives Valuation

-

-

-1.9

-0.2

-

    Interest Expenses Adjust.-Currency Swap

-

-

-

-

0.0

    G-For Exch Translatn

0.0

0.0

0.0

-

-0.3

    Provision-Restoration

0.2

-

-

-

-

    Reversal of Allowance for Doubtful Accou

-0.6

-

-

-

-

    Trade Receivables

1.3

-0.2

-2.7

-1.4

-2.8

    Account Receivables

0.0

0.0

0.4

-0.4

0.0

    Accrued Income

0.0

0.0

0.0

-

-

    Decrease or Increase in Derivative Asset

-

1.7

-

-

-

    Advance Payments

-2.3

0.0

0.8

-0.9

0.0

    Prepaid Expenses

0.0

0.0

0.0

0.0

0.1

    Inventories

-5.6

-3.6

0.7

-8.4

-0.8

    LT Trade Rcvbls

0.0

-

0.1

0.1

0.0

    Trade Payables

2.2

-0.3

4.0

-1.0

1.1

    Account Payables

2.7

0.4

0.8

-5.7

-0.6

    Advances Received

0.7

-0.2

0.7

0.1

0.0

    Deposits Withheld

0.2

0.1

0.1

0.0

0.0

    Accrued Expenses

-0.3

-0.5

-0.3

0.5

0.2

    Accrued Inc Tax

1.2

-0.3

0.6

-1.0

0.2

    Security Deposits

0.0

0.0

0.0

0.0

0.0

    Reserve-Inventory Valuation Loss Rsv.

-

-

-

0.4

-

    Nation Pension Fnd

0.0

0.0

0.0

0.0

0.0

    Retiremt Allow Paymt

-1.1

-1.0

-1.0

-1.0

-1.2

    Increase or Decrease in Derivative Liabi

0.0

-

-

-

-

    Retirement Insurance

-0.1

-0.2

-0.1

-0.5

0.5

    Deferred Taxes-Liab.

-0.1

0.0

-1.7

0.6

1.2

    Deferred Taxes-Asset

0.0

0.4

-0.5

0.0

-0.1

    VAT Withheld

0.5

-0.4

-

-

-

Cash from Operating Activities

14.1

4.1

15.0

-13.5

4.0

 

 

 

 

 

 

    Decrease-LT Financial Assets

-

-

-

0.0

-

    Proceeds from Sale of Short-term Financi

6.1

0.0

-

0.2

0.0

    Dec-Marketable Secs

0.0

0.0

0.0

0.0

0.0

    Decrease-Other Investment Asset

-

-

-

-

0.0

    Decrease in Deposits Provided

0.1

0.0

-

-

-

    Increase-Dividend

-

-

-

0.7

0.6

    Increase-Government Subsidies

-

-

-

-

0.1

    Dec-LT Loans

-

-

-

-

0.0

    Dec-Guarantee Dep

-

-

-

0.0

0.0

    Proceeds from Sale of Land

-

1.3

-

0.0

-

    Disposal-Buildings

-

-

-

0.1

-

    Disposal-Structure

-

-

0.0

-

-

    Disp-Machinery

0.0

0.0

0.6

-

0.0

    Disposal-Tools & Supplies

-

-

0.0

0.0

-

    Disp-Vehicles

0.0

0.1

0.0

0.0

0.0

    Proceeds from Sale of Office Equipment

-

0.0

-

-

-

    Proceeds from Other Intangible Assets

-

0.0

-

-

-

    Purchase of Long-term Financial Instrume

0.0

-

-

-

-

    Inc-ST Finl Asset

-

-

-6.4

-

0.0

    Increase-Other Investment Assets

-

-

-

-0.3

-

    Inc-Investment Secs

0.0

0.0

0.0

0.0

-0.2

    Inc-Inv. Secs. Under Equity Method

-

-

-

-

-0.3

    Inc-Guarantee Dep

0.0

-

-0.1

-

-0.1

    Increase-Buildings

-0.8

0.0

0.0

-0.9

-

    Increase-Structure

-0.1

0.0

-0.1

0.0

-

    Acq-Machinery

-4.9

-1.1

-1.8

-10.7

-0.8

    Acq-Vehicles

-0.1

-

-0.1

-0.1

-0.2

    Acq-Tools/Equipmt

-0.1

0.0

0.0

-0.1

0.0

    Acq-Fixtures

-0.1

0.0

-0.1

-0.1

-0.1

    Acq-Constructn Prog

-0.5

0.0

-0.9

-0.1

-3.7

    Acq-Dev't Cost

-

-

-

-

-0.1

    Increase-Industrial Patent

-

-

-

0.0

0.0

    Increase-Other Intangibles

0.0

0.0

0.0

0.0

0.0

    Purchase of Land

-0.9

-

-

-

-

Cash from Investing Activities

-1.3

0.2

-9.0

-11.2

-4.5

 

 

 

 

 

 

    Inc-ST Borrowings

20.8

6.6

13.7

15.9

13.1

    Inc-LT Borrowing

-

-

-

15.6

2.1

    Disposal-Treasury Stock

-

-

-

6.3

-

    Dec-ST Borrowings

-18.7

-12.0

-19.7

-9.3

-11.8

    Dec-Curr LT Liabs

-5.1

-2.2

-0.1

-0.1

0.0

    Payment-Dividends

-0.9

-0.7

-0.6

-0.7

-0.6

    Acquisition-Treasury Stock

-3.5

-

-0.9

-

-

Cash from Financing Activities

-7.4

-8.3

-7.6

27.8

2.8

 

 

 

 

 

 

Net Change in Cash

5.4

-4.0

-1.6

3.1

2.2

 

 

 

 

 

 

Net Cash - Beginning Balance

0.8

4.7

7.1

5.2

2.9

Net Cash - Ending Balance

6.2

0.7

5.5

8.4

5.1

 

 

Financial Health

 

Financials in: USD (mil)          

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

Key Indicators USD (mil)

 

Quarter
Ending
30-Jun-2011

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2010

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

30.7

9.86%

102.4

25.07%

22.61%

13.87%

Research & Development1

0.3

63.57%

0.6

13.74%

2.93%

-1.27%

Operating Income1

2.7

-23.81%

10.9

85.15%

178.34%

58.67%

Income Available to Common Excl Extraord Items1

1.7

-29.34%

9.3

70.72%

53.85%

41.70%

Basic EPS Excl Extraord Items1

0.12

-27.21%

0.67

71.46%

53.05%

39.78%

Capital Expenditures2

3.0

7.07%

7.4

451.66%

-8.26%

36.54%

Cash from Operating Activities2

2.3

-54.43%

14.1

215.01%

-

56.67%

Free Cash Flow

-0.7

-

6.8

112.98%

-

-

Total Assets3

458.2

44.88%

372.3

37.21%

7.48%

30.64%

Total Liabilities3

118.3

38.90%

102.1

31.88%

-0.12%

26.52%

Total Long Term Debt3

3.9

-40.78%

4.9

-33.87%

-31.22%

43.41%

Employees3

-

-

243

0.83%

0.84%

1.73%

Total Common Shares Outstanding3

14.2

1.77%

13.5

-3.07%

-1.61%

0.65%

1-ExchangeRate: KRW to USD Average for Period

1083.436022

 

1156.281981

 

 

 

2-ExchangeRate: KRW to USD Average for Period

1101.856011

 

1156.281981

 

 

 

3-ExchangeRate: KRW to USD Period End Date

1067.650000

 

1134.900000

 

 

 

Key Ratios

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Profitability

Gross Margin

20.20%

18.68%

15.56%

15.81%

18.96%

Operating Margin

10.60%

7.16%

4.67%

0.91%

4.24%

Pretax Margin

11.61%

8.61%

3.58%

5.18%

8.43%

Net Profit Margin

9.05%

6.63%

4.24%

4.58%

6.43%

Financial Strength

Current Ratio

1.43

1.56

1.39

1.41

1.08

Long Term Debt/Equity

0.02

0.04

0.07

0.08

0.04

Total Debt/Equity

0.08

0.12

0.17

0.18

0.27

Management Effectiveness

Return on Assets

2.93%

2.01%

1.34%

1.27%

3.47%

Return on Equity

4.07%

2.88%

1.99%

1.95%

5.35%

Efficiency

Receivables Turnover

4.59

3.53

3.93

2.61

2.84

Inventory Turnover

3.98

4.80

6.06

4.48

6.80

Asset Turnover

0.32

0.30

0.32

0.28

0.54

Market Valuation USD (mil)

P/E (TTM)

9.27

.

Enterprise Value2

118.8

Price/Sales (TTM)

0.89

.

Enterprise Value/Revenue (TTM)

1.03

Price/Book (MRQ)

0.29

.

Enterprise Value/EBITDA (TTM)

7.95

Market Cap as of 26-Aug-20111

101.1

.

 

 

1-ExchangeRate: KRW to USD on 26-Aug-2011

1081.800000

 

 

 

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

1067.650000

 

 

 

 

 

Annual Ratios

 

Financials in: USD (mil)          

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

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Financial Strength

Current Ratio

1.43

1.56

1.39

1.41

1.08

Quick/Acid Test Ratio

0.76

0.99

1.00

0.94

0.84

Working Capital1

16.0

16.9

12.4

15.4

3.0

Long Term Debt/Equity

0.02

0.04

0.07

0.08

0.04

Total Debt/Equity

0.08

0.12

0.17

0.18

0.27

Long Term Debt/Total Capital

0.02

0.03

0.06

0.06

0.03

Total Debt/Total Capital

0.07

0.11

0.15

0.16

0.21

Payout Ratio

6.50%

16.71%

19.42%

23.29%

16.11%

Effective Tax Rate

22.01%

22.95%

-18.38%

11.60%

23.76%

Total Capital1

290.9

212.2

200.5

283.6

104.8

 

 

 

 

 

 

Efficiency

Asset Turnover

0.32

0.30

0.32

0.28

0.54

Inventory Turnover

3.98

4.80

6.06

4.48

6.80

Days In Inventory

91.70

76.05

60.23

81.41

53.66

Receivables Turnover

4.59

3.53

3.93

2.61

2.84

Days Receivables Outstanding

79.50

103.47

92.79

140.03

128.74

Revenue/Employee2

429,148

337,196

342,304

289,426

289,956

Operating Income/Employee2

45,499

24,149

15,985

2,623

12,298

EBITDA/Employee2

59,823

43,243

32,937

20,843

29,449

 

 

 

 

 

 

Profitability

Gross Margin

20.20%

18.68%

15.56%

15.81%

18.96%

Operating Margin

10.60%

7.16%

4.67%

0.91%

4.24%

EBITDA Margin

13.94%

12.82%

9.62%

7.20%

10.16%

EBIT Margin

10.60%

7.16%

4.67%

0.91%

4.24%

Pretax Margin

11.61%

8.61%

3.58%

5.18%

8.43%

Net Profit Margin

9.05%

6.63%

4.24%

4.58%

6.43%

R&D Expense/Revenue

0.62%

0.69%

0.60%

1.06%

1.05%

COGS/Revenue

79.80%

81.32%

84.44%

84.19%

81.04%

SG&A Expense/Revenue

8.80%

10.63%

10.11%

13.51%

13.27%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

2.93%

2.01%

1.34%

1.27%

3.47%

Return on Equity

4.07%

2.88%

1.99%

1.95%

5.35%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

0.50

0.22

0.75

-1.78

-0.06

Operating Cash Flow/Share 2

1.06

0.32

0.94

-0.94

0.31

1-ExchangeRate: KRW to USD Period End Date

1134.9

1164.475

1259.55

936.05

930

2-ExchangeRate: KRW to USD Average for Period

1134.9

1164.475

1259.55

936.05

930

 

Current Market Multiples

Market Cap/Earnings (TTM)

9.71

Market Cap/Equity (MRQ)

0.30

Market Cap/Revenue (TTM)

0.89

Market Cap/EBIT (TTM)

9.23

Market Cap/EBITDA (TTM)

6.85

Enterprise Value/Earnings (TTM)

11.26

Enterprise Value/Equity (MRQ)

0.35

Enterprise Value/Revenue (TTM)

1.03

Enterprise Value/EBIT (TTM)

10.71

Enterprise Value/EBITDA (TTM)

7.95

 

 

 

 

Annual Income Statement

Standardized

 

Financials in: USD (mil)

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

PricewaterhouseCoopers LLP

Samil Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

102.4

74.1

94.0

69.1

66.4

Revenue

102.4

74.1

94.0

69.1

66.4

Total Revenue

102.4

74.1

94.0

69.1

66.4

 

 

 

 

 

 

    Cost of Revenue

81.7

60.3

79.4

58.2

53.8

Cost of Revenue, Total

81.7

60.3

79.4

58.2

53.8

Gross Profit

20.7

13.9

14.6

10.9

12.6

 

 

 

 

 

 

    Selling/General/Administrative Expense

5.5

5.3

6.5

6.3

5.9

    Labor & Related Expense

3.4

2.6

3.0

3.0

2.9

    Advertising Expense

0.1

0.0

0.1

0.1

0.1

Total Selling/General/Administrative Expenses

9.0

7.9

9.5

9.3

8.8

Research & Development

0.6

0.5

0.6

0.7

0.7

    Depreciation

0.2

0.1

0.2

0.2

0.2

    Amortization of Intangibles

0.0

0.0

0.0

0.1

0.1

Depreciation/Amortization

0.2

0.2

0.2

0.2

0.3

Total Operating Expense

91.5

68.8

89.6

68.5

63.5

 

 

 

 

 

 

Operating Income

10.9

5.3

4.4

0.6

2.8

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.9

-1.4

-1.9

-1.8

-0.9

    Interest Expense, Net Non-Operating

-0.9

-1.4

-1.9

-1.8

-0.9

        Interest Income - Non-Operating

0.3

0.5

0.5

0.5

0.2

        Investment Income - Non-Operating

1.1

1.2

0.8

4.0

3.3

    Interest/Investment Income - Non-Operating

1.4

1.7

1.3

4.4

3.6

Interest Income (Expense) - Net Non-Operating Total

0.5

0.2

-0.6

2.6

2.6

Gain (Loss) on Sale of Assets

0.0

0.8

-0.4

0.0

0.0

    Other Non-Operating Income (Expense)

0.5

0.1

0.0

0.4

0.1

Other, Net

0.5

0.1

0.0

0.4

0.1

Income Before Tax

11.9

6.4

3.4

3.6

5.6

 

 

 

 

 

 

Total Income Tax

2.6

1.5

-0.6

0.4

1.3

Income After Tax

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Net Income Before Extraord Items

9.3

4.9

4.0

3.2

4.3

Net Income

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

13.9

14.0

14.2

13.7

13.1

Basic EPS Excl Extraord Items

0.67

0.35

0.28

0.23

0.33

Basic/Primary EPS Incl Extraord Items

0.67

0.35

0.28

0.23

0.33

Dilution Adjustment

0.0

-

-

-

-

Diluted Net Income

9.3

4.9

4.0

3.2

4.3

Diluted Weighted Average Shares

13.9

14.0

14.2

13.7

13.1

Diluted EPS Excl Extraord Items

0.67

0.35

0.28

0.23

0.33

Diluted EPS Incl Extraord Items

0.67

0.35

0.28

0.23

0.33

Dividends per Share - Common Stock Primary Issue

0.04

0.06

0.05

0.05

0.05

Gross Dividends - Common Stock

0.6

0.8

0.8

0.8

0.7

Interest Expense, Supplemental

0.9

1.4

1.9

1.8

0.9

Depreciation, Supplemental

3.4

4.2

4.6

4.3

3.8

Total Special Items

0.0

-0.8

0.4

0.0

0.0

Normalized Income Before Tax

11.9

5.6

3.8

3.6

5.6

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

-0.2

0.1

0.0

0.0

Inc Tax Ex Impact of Sp Items

2.6

1.3

-0.5

0.4

1.3

Normalized Income After Tax

9.3

4.3

4.2

3.2

4.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

9.3

4.3

4.2

3.2

4.3

 

 

 

 

 

 

Basic Normalized EPS

0.67

0.31

0.30

0.23

0.32

Diluted Normalized EPS

0.67

0.31

0.30

0.23

0.32

Amort of Intangibles, Supplemental

0.0

0.0

0.0

0.1

0.1

Rental Expenses

0.3

0.3

0.3

0.4

0.3

Advertising Expense, Supplemental

0.1

0.0

0.1

0.1

0.1

Research & Development Exp, Supplemental

0.6

0.5

0.6

0.7

0.7

Normalized EBIT

10.9

5.3

4.4

0.6

2.8

Normalized EBITDA

14.3

9.5

9.0

5.0

6.7

 

 

Interim Income Statement

Standardized

 

Financials in: USD (mil)          

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

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Restated Normal 
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1083.436022

1120.28956

1132.465591

1183.132366

1164.000484

 

 

 

 

 

 

    Net Sales

30.7

26.6

28.2

23.9

26.0

Revenue

30.7

26.6

28.2

23.9

26.0

Total Revenue

30.7

26.6

28.2

23.9

26.0

 

 

 

 

 

 

    Cost of Revenue

25.2

22.5

22.3

18.8

20.3

Cost of Revenue, Total

25.2

22.5

22.3

18.8

20.3

Gross Profit

5.5

4.1

6.0

5.1

5.7

 

 

 

 

 

 

    Selling/General/Administrative Expense

1.9

1.3

1.4

1.3

2.5

    Labor & Related Expense

0.9

0.8

1.2

0.8

0.7

    Advertising Expense

-

0.0

0.0

0.0

-

Total Selling/General/Administrative Expenses

2.8

2.1

2.6

2.2

3.2

Research & Development

0.3

0.2

0.2

0.1

0.2

    Depreciation

-

0.0

0.0

0.0

-

    Amortization of Intangibles

-

0.0

0.0

0.0

-

Depreciation/Amortization

-

0.0

0.0

0.0

-

        Investment Income - Operating

-

0.1

-

-

-

    Interest/Investment Income - Operating

-

0.1

-

-

-

Interest Expense (Income) - Net Operating Total

-

0.1

-

-

-

    Loss (Gain) on Sale of Assets - Operating

-

0.0

-

-

-

Unusual Expense (Income)

-

0.0

-

-

-

    Other Operating Expense

-

0.0

-

-

-

    Other, Net

-0.2

-0.2

-

-

-0.9

Other Operating Expenses, Total

-0.2

-0.2

-

-

-0.9

Total Operating Expense

28.0

24.7

25.1

21.1

22.7

 

 

 

 

 

 

Operating Income

2.7

1.9

3.1

2.7

3.3

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.2

-0.2

-0.2

-0.2

-0.2

    Interest Expense, Net Non-Operating

-0.2

-0.2

-0.2

-0.2

-0.2

        Interest Income - Non-Operating

0.1

0.0

0.1

0.1

0.0

        Investment Income - Non-Operating

-

2.7

0.1

0.0

-

    Interest/Investment Income - Non-Operating

0.1

2.8

0.2

0.0

0.0

Interest Income (Expense) - Net Non-Operating Total

-0.2

2.6

0.0

-0.2

-0.2

Gain (Loss) on Sale of Assets

-

-

0.0

0.0

-

    Other Non-Operating Income (Expense)

-

-

0.1

0.1

-

Other, Net

-

-

0.1

0.1

-

Income Before Tax

2.5

4.5

3.1

2.7

3.1

 

 

 

 

 

 

Total Income Tax

0.8

0.9

0.7

0.5

0.8

Income After Tax

1.7

3.5

2.4

2.1

2.3

 

 

 

 

 

 

Net Income Before Extraord Items

1.7

3.5

2.4

2.1

2.3

Net Income

1.7

3.5

2.4

2.1

2.3

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

1.7

3.5

2.4

2.1

2.3

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

1.7

3.5

2.4

2.1

2.3

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

14.2

14.2

13.7

14.0

14.7

Basic EPS Excl Extraord Items

0.12

0.25

0.18

0.15

0.16

Basic/Primary EPS Incl Extraord Items

0.12

0.25

0.18

0.15

0.16

Dilution Adjustment

-

-

0.0

-

-

Diluted Net Income

1.7

3.5

2.4

2.1

2.3

Diluted Weighted Average Shares

14.2

14.2

13.7

14.0

14.7

Diluted EPS Excl Extraord Items

0.12

0.25

0.18

0.15

0.16

Diluted EPS Incl Extraord Items

0.12

0.25

0.18

0.15

0.16

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.04

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.6

0.0

0.0

Interest Expense, Supplemental

0.2

0.2

0.2

0.2

0.2

Depreciation, Supplemental

1.0

0.9

0.9

0.8

0.9

Total Special Items

-

0.0

0.0

0.0

-

Normalized Income Before Tax

2.5

4.5

3.1

2.7

3.1

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-

0.0

0.0

0.0

-

Inc Tax Ex Impact of Sp Items

0.8

0.9

0.7

0.5

0.8

Normalized Income After Tax

1.7

3.5

2.4

2.1

2.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

1.7

3.5

2.4

2.1

2.3

 

 

 

 

 

 

Basic Normalized EPS

0.12

0.25

0.17

0.15

0.16

Diluted Normalized EPS

0.12

0.25

0.17

0.15

0.16

Amort of Intangibles, Supplemental

0.0

0.0

0.0

0.0

0.0

Rental Expenses

0.1

0.1

0.1

0.1

0.1

Advertising Expense, Supplemental

0.1

0.0

0.0

0.0

0.0

Research & Development Exp, Supplemental

0.3

0.2

0.2

0.1

0.2

Normalized EBIT

2.7

2.0

3.1

2.7

3.3

Normalized EBITDA

3.7

2.9

4.0

3.6

4.2

 

Annual Balance Sheet

Standardized

 

Financials in: USD (mil

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

 

 

 

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

31-Dec-2006

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Reclassified Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

PricewaterhouseCoopers LLP

Samil Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

6.3

0.8

4.8

8.3

5.2

    Short Term Investments

0.1

6.1

5.7

0.0

0.2

Cash and Short Term Investments

6.5

6.9

10.5

8.3

5.5

        Accounts Receivable - Trade, Gross

22.8

24.0

23.1

28.3

27.0

        Provision for Doubtful Accounts

-0.8

-1.2

-1.7

-1.6

-1.5

    Trade Accounts Receivable - Net

22.0

22.8

21.5

26.7

25.4

    Other Receivables

0.0

0.0

0.0

0.6

0.1

Total Receivables, Net

22.0

22.8

21.5

27.3

25.5

    Inventories - Finished Goods

8.4

4.8

3.9

3.6

2.2

    Inventories - Work In Progress

4.1

3.8

2.7

6.8

2.9

    Inventories - Raw Materials

7.9

5.8

3.2

5.8

3.1

    Inventories - Other

4.3

2.2

0.2

1.1

0.3

Total Inventory

24.7

16.7

10.0

17.3

8.5

Prepaid Expenses

0.0

0.0

0.0

0.0

0.0

    Deferred Income Tax - Current Asset

0.4

0.4

0.8

0.4

0.4

    Other Current Assets

-

-

1.4

-

-

Other Current Assets, Total

0.4

0.4

2.2

0.4

0.4

Total Current Assets

53.6

46.8

44.3

53.3

39.9

 

 

 

 

 

 

        Buildings

16.2

14.9

14.0

18.8

15.3

        Land/Improvements

11.4

10.2

9.8

13.2

13.4

        Machinery/Equipment

47.3

41.1

37.7

51.9

35.3

        Construction in Progress

0.6

0.0

-

0.1

8.9

    Property/Plant/Equipment - Gross

75.4

66.3

61.6

84.0

72.8

    Accumulated Depreciation

-31.9

-27.9

-22.4

-28.3

-24.3

Property/Plant/Equipment - Net

43.5

38.4

39.1

55.7

48.5

Intangibles, Net

0.1

0.2

0.2

0.3

0.3

    LT Investment - Affiliate Companies

2.7

2.5

2.5

2.6

42.3

    LT Investments - Other

271.8

175.9

163.8

251.2

1.5

Long Term Investments

274.5

178.5

166.3

253.8

43.8

Note Receivable - Long Term

0.2

0.3

0.0

0.2

0.3

    Other Long Term Assets

0.3

0.4

0.4

0.4

0.4

Other Long Term Assets, Total

0.3

0.4

0.4

0.4

0.4

Total Assets

372.3

264.4

250.3

363.6

133.2

 

 

 

 

 

 

Accounts Payable

12.6

10.1

9.7

8.2

9.3

Accrued Expenses

0.5

0.3

0.8

1.4

0.8

Notes Payable/Short Term Debt

13.2

10.8

15.5

25.6

18.9

Current Portion - Long Term Debt/Capital Leases

2.5

5.0

2.3

0.2

0.1

    Customer Advances

1.4

0.6

0.8

0.2

0.1

    Security Deposits

0.1

0.1

0.1

0.2

0.1

    Income Taxes Payable

2.2

0.9

1.1

0.8

0.4

    Other Payables

4.4

1.6

1.5

1.2

6.9

    Other Current Liabilities

0.5

0.4

0.2

0.2

0.2

Other Current liabilities, Total

8.7

3.7

3.7

2.5

7.7

Total Current Liabilities

37.5

29.9

31.9

37.9

36.9

 

 

 

 

 

 

    Long Term Debt

4.9

7.3

11.4

18.4

3.1

Total Long Term Debt

4.9

7.3

11.4

18.4

3.1

Total Debt

20.7

23.1

29.2

44.1

22.1

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

58.3

37.3

34.7

66.8

9.5

Deferred Income Tax

58.3

37.3

34.7

66.8

9.5

    Reserves

0.2

-

-

-

-

    Pension Benefits - Underfunded

1.1

0.9

1.0

1.2

1.1

Other Liabilities, Total

1.3

0.9

1.0

1.2

1.1

Total Liabilities

102.1

75.4

79.0

124.2

50.5

 

 

 

 

 

 

    Common Stock

6.3

6.1

5.6

7.6

7.6

Common Stock

6.3

6.1

5.6

7.6

7.6

Additional Paid-In Capital

21.4

20.8

19.3

25.9

22.0

Retained Earnings (Accumulated Deficit)

64.0

54.1

45.7

57.6

55.5

Treasury Stock - Common

-4.4

-0.8

-0.7

-

-1.0

Unrealized Gain (Loss)

183.0

108.8

101.4

148.3

-1.4

Total Equity

270.2

189.0

171.3

239.4

82.7

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

372.3

264.4

250.3

363.6

133.2

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

13.5

14.0

14.0

14.2

13.1

Total Common Shares Outstanding

13.5

14.0

14.0

14.2

13.1

Treasury Shares - Common Stock Primary Issue

0.7

0.2

0.2

-

1.1

Employees

243

241

240

237

235

Number of Common Shareholders

4,536

4,527

3,313

2,532

1,362

Deferred Revenue - Current

1.4

0.6

0.8

0.2

0.1

Total Long Term Debt, Supplemental

7.4

12.3

13.6

18.5

3.1

Long Term Debt Maturing within 1 Year

2.5

5.0

2.3

0.2

0.1

Long Term Debt Maturing in Year 2

2.5

2.5

4.7

3.1

0.2

Long Term Debt Maturing in Year 3

2.4

2.4

2.3

6.3

0.6

Long Term Debt Maturing in Year 4

0.0

2.3

2.2

3.1

0.6

Long Term Debt Maturing in Year 5

0.0

0.0

2.2

3.0

-

Long Term Debt Maturing in 2-3 Years

4.8

4.9

6.9

9.3

0.8

Long Term Debt Maturing in 4-5 Years

0.0

2.3

4.4

6.0

0.6

Long Term Debt Matur. in Year 6 & Beyond

0.1

0.1

0.1

3.0

1.7

 

 

Interim Balance Sheet

Standardized

 

Financials in: USD (mil)          

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

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

UpdateType/Date

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Restated Normal
31-Mar-2011

Updated Normal
30-Sep-2010

Updated Normal
30-Jun-2010

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1067.65

1096.95

1134.9

1140.25

1221.965

 

 

 

 

 

 

    Cash

0.0

-

0.0

-

-

    Cash & Equivalents

0.4

5.3

6.3

3.0

2.7

    Short Term Investments

3.9

2.9

0.1

0.8

0.9

Cash and Short Term Investments

4.3

8.1

6.5

3.7

3.6

        Accounts Receivable - Trade, Gross

27.1

23.0

22.8

23.5

23.4

        Provision for Doubtful Accounts

-0.9

-0.9

-0.8

-1.3

-1.2

    Trade Accounts Receivable - Net

26.2

22.1

22.0

22.2

22.2

    Other Receivables

0.1

0.2

0.0

0.0

0.1

Total Receivables, Net

26.3

22.4

22.0

22.2

22.3

    Inventories - Finished Goods

8.6

7.4

8.4

5.0

4.7

    Inventories - Work In Progress

4.2

4.8

4.1

5.8

4.4

    Inventories - Raw Materials

7.7

8.5

7.9

9.6

6.8

    Inventories - Other

4.0

2.5

4.3

1.4

2.5

Total Inventory

24.5

23.2

24.7

21.8

18.4

Prepaid Expenses

0.1

0.0

0.0

0.0

0.0

    Deferred Income Tax - Current Asset

-

-

-

0.4

0.5

    Other Current Assets

0.0

0.0

0.0

0.0

0.0

Other Current Assets, Total

0.0

0.0

0.0

0.4

0.5

Total Current Assets

55.1

53.8

53.2

48.3

44.8

 

 

 

 

 

 

        Buildings

18.2

16.6

16.2

16.0

14.6

        Land/Improvements

12.2

11.8

11.4

11.0

10.0

        Machinery/Equipment

52.0

47.6

47.3

46.2

40.5

        Construction in Progress

0.0

-

0.6

0.5

0.5

        Other Property/Plant/Equipment

0.0

2.7

0.0

-

-

    Property/Plant/Equipment - Gross

82.4

78.8

75.4

73.6

65.7

    Accumulated Depreciation

-36.0

-34.1

-32.1

-30.9

-28.1

Property/Plant/Equipment - Net

46.4

44.7

43.3

42.7

37.5

Intangibles, Net

1.1

1.1

0.5

0.1

0.1

    LT Investment - Affiliate Companies

2.8

2.7

2.6

2.5

2.5

    LT Investments - Other

352.2

420.0

271.5

289.8

190.9

Long Term Investments

355.0

422.7

274.1

292.3

193.3

Note Receivable - Long Term

0.3

0.2

0.2

0.3

0.2

    Other Long Term Assets

0.3

0.3

0.3

0.4

0.3

Other Long Term Assets, Total

0.3

0.3

0.3

0.4

0.3

Total Assets

458.2

522.8

371.6

384.1

276.4

 

 

 

 

 

 

Accounts Payable

12.9

11.9

12.6

12.7

9.2

Accrued Expenses

1.2

0.8

0.5

0.9

0.5

Notes Payable/Short Term Debt

14.0

13.7

13.2

7.9

7.4

Current Portion - Long Term Debt/Capital Leases

2.7

2.6

2.5

2.5

4.8

    Dividends Payable

-

0.6

-

-

-

    Customer Advances

1.1

1.5

1.4

1.6

0.7

    Security Deposits

0.1

0.1

0.1

0.1

0.1

    Income Taxes Payable

1.6

2.1

2.2

1.4

1.5

    Other Payables

2.8

2.2

4.4

2.2

2.1

    Other Current Liabilities

0.2

0.2

0.5

0.2

0.2

Other Current liabilities, Total

5.9

6.8

8.7

5.5

4.6

Total Current Liabilities

36.7

35.8

37.5

29.6

26.4

 

 

 

 

 

 

    Long Term Debt

3.9

4.4

4.9

5.5

5.7

Total Long Term Debt

3.9

4.4

4.9

5.5

5.7

Total Debt

20.6

20.7

20.7

15.9

17.9

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

75.5

90.6

57.9

62.3

40.6

Deferred Income Tax

75.5

90.6

57.9

62.3

40.6

    Reserves

0.3

0.2

0.2

0.2

0.2

    Pension Benefits - Underfunded

1.9

2.4

2.5

1.5

1.4

Other Liabilities, Total

2.2

2.6

2.7

1.8

1.6

Total Liabilities

118.3

133.5

103.1

99.2

74.4

 

 

 

 

 

 

    Common Stock

7.0

6.8

6.3

6.2

5.8

Common Stock

7.0

6.8

6.3

6.2

5.8

Additional Paid-In Capital

6.1

5.9

5.7

9.5

8.9

Retained Earnings (Accumulated Deficit)

84.0

80.0

74.7

61.3

55.2

Treasury Stock - Common

-4.7

-

-4.4

-1.0

-0.8

Unrealized Gain (Loss)

243.5

-

182.4

208.8

132.9

    Other Equity

4.1

296.7

3.8

-

-

Other Equity, Total

4.1

296.7

3.8

-

-

Total Equity

340.0

389.4

268.6

284.9

202.0

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

458.2

522.8

371.6

384.1

276.4

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

14.2

14.2

13.5

13.9

14.0

Total Common Shares Outstanding

14.2

14.2

13.5

13.9

14.0

Treasury Shares - Common Stock Primary Issue

0.7

0.7

0.7

0.3

0.2

Employees

248

250

243

242

237

Number of Common Shareholders

-

-

4,536

-

-

Deferred Revenue - Current

1.1

1.5

1.4

1.6

0.7

Total Long Term Debt, Supplemental

6.6

-

-

-

10.5

Long Term Debt Maturing within 1 Year

2.7

-

-

-

4.8

Long Term Debt Maturing in Year 2

2.5

-

-

-

2.3

Long Term Debt Maturing in Year 3

1.3

-

-

-

2.2

Long Term Debt Maturing in Year 4

0.0

-

-

-

1.1

Long Term Debt Maturing in 2-3 Years

3.8

-

-

-

4.6

Long Term Debt Maturing in 4-5 Years

0.0

-

-

-

1.1

Long Term Debt Matur. in Year 6 & Beyond

0.1

-

-

-

0.1

 

 

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 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

PricewaterhouseCoopers LLP

Samil Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

9.3

4.9

4.0

3.2

4.3

    Depreciation

3.4

4.2

4.6

4.3

3.8

Depreciation/Depletion

3.4

4.2

4.6

4.3

3.8

    Amortization of Intangibles

0.0

0.0

0.0

0.1

0.1

Amortization

0.0

0.0

0.0

0.1

0.1

Deferred Taxes

-0.1

0.4

-2.2

0.6

1.1

    Unusual Items

1.1

-2.5

0.2

-0.1

0.2

    Equity in Net Earnings (Loss)

-0.1

0.0

0.3

-4.1

-3.4

    Other Non-Cash Items

0.9

1.5

3.9

2.1

1.2

Non-Cash Items

2.0

-1.1

4.4

-2.1

-2.0

    Accounts Receivable

1.4

-0.2

-2.1

-1.8

-2.8

    Inventories

-7.9

-3.6

1.5

-9.3

-0.8

    Prepaid Expenses

0.0

0.0

0.0

0.0

0.1

    Other Assets

-

1.7

-

-

-

    Accounts Payable

4.9

0.1

4.8

-6.7

0.5

    Accrued Expenses

-0.3

-0.5

-0.3

0.5

0.2

    Taxes Payable

1.7

-0.7

0.6

-1.0

0.2

    Other Liabilities

-0.3

-1.3

-0.3

-1.2

-0.7

Changes in Working Capital

-0.4

-4.4

4.1

-19.5

-3.4

Cash from Operating Activities

14.1

4.1

15.0

-13.5

4.0

 

 

 

 

 

 

    Purchase of Fixed Assets

-7.4

-1.2

-3.0

-12.0

-4.7

    Purchase/Acquisition of Intangibles

0.0

0.0

0.0

0.0

-0.1

Capital Expenditures

-7.4

-1.2

-3.1

-12.0

-4.8

    Sale of Fixed Assets

0.0

1.4

0.6

0.1

0.0

    Sale/Maturity of Investment

6.1

0.1

0.0

0.2

0.0

    Purchase of Investments

0.0

0.0

-6.5

-0.3

-0.5

    Sale of Intangible Assets

-

0.0

-

-

-

    Other Investing Cash Flow

0.1

0.0

-0.1

0.7

0.7

Other Investing Cash Flow Items, Total

6.2

1.5

-5.9

0.8

0.2

Cash from Investing Activities

-1.3

0.2

-9.0

-11.2

-4.5

 

 

 

 

 

 

    Other Financing Cash Flow

-5.1

-2.2

-0.1

-0.1

0.0

Financing Cash Flow Items

-5.1

-2.2

-0.1

-0.1

0.0

Total Cash Dividends Paid

-0.9

-0.7

-0.6

-0.7

-0.6

        Sale/Issuance of Common

-

-

-

6.3

-

        Repurchase/Retirement of Common

-3.5

-

-0.9

-

-

    Common Stock, Net

-3.5

-

-0.9

6.3

-

Issuance (Retirement) of Stock, Net

-3.5

-

-0.9

6.3

-

        Short Term Debt Issued

20.8

6.6

13.7

15.9

13.1

        Short Term Debt Reduction

-18.7

-12.0

-19.7

-9.3

-11.8

    Short Term Debt, Net

2.1

-5.4

-6.0

6.7

1.3

        Long Term Debt Issued

-

-

-

15.6

2.1

    Long Term Debt, Net

-

-

-

15.6

2.1

Issuance (Retirement) of Debt, Net

2.1

-5.4

-6.0

22.3

3.4

Cash from Financing Activities

-7.4

-8.3

-7.6

27.8

2.8

 

 

 

 

 

 

Net Change in Cash

5.4

-4.0

-1.6

3.1

2.2

 

 

 

 

 

 

Net Cash - Beginning Balance

0.8

4.7

7.1

5.2

2.9

Net Cash - Ending Balance

6.2

0.7

5.5

8.4

5.1

 

 

 

Interim Cash Flows

Standardized

 

Financials in: USD (mil) 

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

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

6 Months

3 Months

12 Months

9 Months

6 Months

UpdateType/Date

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Reclassified Normal 
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1101.856011

1120.28956

1156.281981

1164.307745

1155.056202

 

 

 

 

 

 

Net Income/Starting Line

5.3

3.5

9.3

6.9

4.7

    Depreciation

1.9

0.9

3.4

2.5

1.8

Depreciation/Depletion

1.9

0.9

3.4

2.5

1.8

    Amortization of Intangibles

0.0

0.0

0.0

0.0

0.0

Amortization

0.0

0.0

0.0

0.0

0.0

Deferred Taxes

-

0.1

-0.1

0.0

-

    Unusual Items

0.3

0.0

1.1

1.3

1.7

    Equity in Net Earnings (Loss)

-

-

-0.1

0.1

-

    Other Non-Cash Items

0.1

1.5

0.9

0.7

0.6

Non-Cash Items

0.4

1.5

2.0

2.0

2.3

    Accounts Receivable

-2.8

0.4

1.4

1.0

-0.6

    Inventories

2.4

2.3

-7.9

-5.4

-3.5

    Prepaid Expenses

-

0.0

0.0

0.0

-

    Other Assets

-1.1

-

-

0.0

-0.3

    Accounts Payable

-1.7

-3.4

4.9

2.9

0.0

    Accrued Expenses

-

0.4

-0.3

0.5

-

    Taxes Payable

-

-0.2

1.7

0.5

-

    Other Liabilities

-2.2

-0.8

-0.3

0.4

0.0

    Other Operating Cash Flow

0.0

-1.2

-

-

0.3

Changes in Working Capital

-5.3

-2.6

-0.4

-0.1

-4.0

Cash from Operating Activities

2.3

3.5

14.1

11.3

4.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-2.4

-0.9

-7.4

-5.9

-2.7

    Purchase/Acquisition of Intangibles

-0.6

0.0

0.0

0.0

0.0

Capital Expenditures

-3.0

-0.9

-7.4

-5.9

-2.7

    Sale of Fixed Assets

0.1

0.1

0.0

0.0

0.0

    Sale/Maturity of Investment

-3.6

0.0

6.1

5.3

5.2

    Purchase of Investments

0.0

-3.3

0.0

0.0

0.0

    Sale of Intangible Assets

-

-

-

0.0

-

    Other Investing Cash Flow

0.0

0.0

0.1

0.0

0.0

Other Investing Cash Flow Items, Total

-3.5

-3.2

6.2

5.4

5.2

Cash from Investing Activities

-6.5

-4.1

-1.3

-0.5

2.5

 

 

 

 

 

 

    Other Financing Cash Flow

0.0

-

-

-

-

Financing Cash Flow Items

0.0

-

-

-

-

Total Cash Dividends Paid

-0.6

-

-0.9

-0.9

-0.9

        Repurchase/Retirement of Common

0.0

-

-3.5

-0.2

-

    Common Stock, Net

0.0

-

-3.5

-0.2

-

Issuance (Retirement) of Stock, Net

0.0

-

-3.5

-0.2

-

        Short Term Debt Issued

-

-

20.8

7.7

-

        Short Term Debt Reduction

-

-

-18.7

-10.8

-3.1

    Short Term Debt, Net

-

-

2.1

-3.1

-3.1

        Long Term Debt Reduction

-1.3

-0.6

-5.1

-4.4

-1.2

    Long Term Debt, Net

-1.3

-0.6

-5.1

-4.4

-1.2

Issuance (Retirement) of Debt, Net

-1.3

-0.6

-3.0

-7.5

-4.4

Cash from Financing Activities

-1.9

-0.6

-7.4

-8.6

-5.3

 

 

 

 

 

 

Foreign Exchange Effects

0.0

-

-

-

0.0

Net Change in Cash

-6.2

-1.3

5.4

2.1

2.0

 

 

 

 

 

 

Net Cash - Beginning Balance

6.5

6.4

0.8

0.8

0.8

Net Cash - Ending Balance

0.4

5.1

6.2

2.9

2.8

Cash Interest Paid

0.5

0.2

-

-

0.4

Cash Taxes Paid

2.4

1.0

-

-

0.9

 

 

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 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

PricewaterhouseCoopers LLP

Samil Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Finished Products

93.3

69.3

88.4

61.8

59.6

    Merchandise Revenues

7.5

3.6

2.4

4.3

3.3

    Construction Revenue

1.6

1.3

3.2

3.0

3.4

Total Revenue

102.4

74.1

94.0

69.1

66.4

 

 

 

 

 

 

    Cost of Finish. Good

73.3

55.8

74.6

51.7

47.8

    Cost-Merchandise

7.1

3.3

1.9

3.7

2.8

    Cost of Construction

1.3

1.2

2.9

2.8

3.2

    Salaries

2.7

2.0

2.4

2.4

2.3

    Retirement Allowance

0.4

0.3

0.3

0.3

0.3

    Employee Benefits

0.3

0.3

0.3

0.3

0.3

    Travel Expenses

0.1

0.0

0.1

0.1

0.1

    Communication Exp.

0.0

0.0

0.0

0.0

0.0

    Taxes and Dues

0.0

0.0

0.0

0.0

0.1

    Rent

0.3

0.3

0.3

0.4

0.3

    Depreciation Expense

0.2

0.1

0.2

0.2

0.2

    Amort-Intangible Assets

0.0

0.0

0.0

0.1

0.1

    Repair Expenses

0.0

0.0

0.0

0.1

0.1

    Vehicles Expense

0.4

0.3

0.3

0.3

0.3

    Insurance Expenses

0.1

0.1

0.1

0.1

0.1

    Entertainment

0.2

0.1

0.2

0.1

0.1

    Consumable Expense

0.1

0.0

0.1

0.1

0.1

    Utility Expenses

0.0

0.0

0.0

0.0

0.0

    Printing Expense

0.0

0.0

0.0

0.0

0.0

    Commissions Paid

0.5

0.5

0.5

0.6

0.7

    Education & Training

0.0

0.0

0.0

0.0

0.0

    Advertising Expense

0.1

0.0

0.1

0.1

0.1

    Shipping/Handling

3.5

3.3

3.9

4.2

3.6

    Sales Commissions

0.1

0.1

0.0

0.0

0.0

    Amort. of Bad Debts

-

0.4

0.8

0.2

0.3

    Research & Development Expense

0.6

0.5

0.6

0.7

0.7

    Miscellaneous Expenses

0.0

0.0

-

0.0

0.0

    Expenses for Samples

0.0

0.0

0.0

0.0

0.0

Total Operating Expense

91.5

68.8

89.6

68.5

63.5

 

 

 

 

 

 

    Interest Income

0.3

0.5

0.5

0.5

0.2

    Dividend Income

1.6

1.1

0.8

0.0

0.0

    G-For Curr Transactn

0.4

0.3

0.5

0.1

0.2

    Gain-Valuation of Derivatives

-

-

1.9

0.2

-

    G-For Exch Translatn

0.0

0.0

0.1

0.0

0.3

    G-Tang Asst Disposal

0.0

1.0

0.0

0.0

0.0

    Other Non-Op. Income

0.4

0.3

0.5

0.4

0.3

    Interest Expense, Non-Operating

-0.9

-1.4

-1.9

-1.8

-0.9

    L-For Curr Transactn

-0.3

-0.2

-0.3

-0.1

-0.1

    L-For Exch Translatn

0.0

0.0

-2.0

-0.3

-0.2

    Donations Paid

0.0

0.0

0.0

0.0

0.0

    L-Tang.Asst Disposal

0.0

-0.2

-0.4

0.0

0.0

    Reversal of Allowance for Doubtful Accou

0.6

-

-

-

-

    Retirement Bonus Expense

-

-0.1

-0.4

-

-

    Additional Income Taxes Paid

-

-

-

-

0.0

    Loss-Valuation of Derivative

-

-

-

-

-0.2

    Other Non-Op Expense

-0.4

-0.1

-0.2

0.0

-0.2

    Loss-Reduction of Investment Securities

-0.6

-

-

0.0

-

    Gains under Equity Method

0.1

0.0

-

4.2

3.7

    Loss under Equity Method

-

-

-0.3

-0.1

-0.3

Net Income Before Taxes

11.9

6.4

3.4

3.6

5.6

 

 

 

 

 

 

Provision for Income Taxes

2.6

1.5

-0.6

0.4

1.3

Net Income After Taxes

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Net Income Before Extra. Items

9.3

4.9

4.0

3.2

4.3

Net Income

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Income Available to Com Excl E

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Income Available to Com Incl E

9.3

4.9

4.0

3.2

4.3

 

 

 

 

 

 

Basic Weighted Average Shares

13.9

14.0

14.2

13.7

13.1

Basic EPS Excluding ExtraOrdin

0.67

0.35

0.28

0.23

0.33

Basic EPS Including ExtraOrdin

0.67

0.35

0.28

0.23

0.33

Dilution Adjustment

0.0

-

-

-

-

Diluted Net Income

9.3

4.9

4.0

3.2

4.3

Diluted Weighted Average Share

13.9

14.0

14.2

13.7

13.1

Diluted EPS Excluding ExtraOrd

0.67

0.35

0.28

0.23

0.33

Diluted EPS Including ExtraOrd

0.67

0.35

0.28

0.23

0.33

DPS-Common Stock

0.04

0.06

0.05

0.05

0.05

Gross Dividends - Common Stock

0.6

0.8

0.8

0.8

0.7

Normalized Income Before Taxes

11.9

5.6

3.8

3.6

5.6

 

 

 

 

 

 

Inc Tax Ex. Impact of Sp Items

2.6

1.3

-0.5

0.4

1.3

Normalized Income After Taxes

9.3

4.3

4.2

3.2

4.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

9.3

4.3

4.2

3.2

4.3

 

 

 

 

 

 

Basic Normalized EPS

0.67

0.31

0.30

0.23

0.32

Diluted Normalized EPS

0.67

0.31

0.30

0.23

0.32

Interest Expense, Supplemental

0.9

1.4

1.9

1.8

0.9

Rental Expense, Supplemental

0.3

0.3

0.3

0.4

0.3

R&D Expense, Supplemental

0.6

0.5

0.6

0.7

0.7

Advertising Expense, Supplemental

0.1

0.0

0.1

0.1

0.1

Depreciation, Supplemental

3.4

4.2

4.6

4.3

3.8

Amort of Intangibles, Supplemental

0.0

0.0

0.0

0.1

0.1

 

Interim Income Statement

As Reported

 

Financials in: USD (mil) 

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

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Restated Normal 
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1083.436022

1120.28956

1132.465591

1183.132366

1164.000484

 

 

 

 

 

 

    Sales Revenue

30.7

26.6

-

-

26.0

    Finished Product Revenues

-

-

26.9

22.1

-

    Merchandise Revenues

-

-

0.8

1.2

-

    Construction Revenues

-

-

0.5

0.6

-

Total Revenue

30.7

26.6

28.2

23.9

26.0

 

 

 

 

 

 

    Cost-Revenue

25.2

22.5

-

-

20.3

    Cost of Finished Goods Sold

-

-

21.1

17.0

-

    Cost of Merchandise Sold

-

-

0.8

1.2

-

    Cost of Construction

-

-

0.4

0.5

-

    Salaries and Wages

-

0.6

1.0

0.7

-

    Retirement Allowance

-

0.1

0.1

0.1

-

    Employee Benefits

-

0.1

0.1

0.1

-

    Adjustment for Labor Wages

-

0.0

-

-

-

    Travel Expenses

-

0.0

0.0

0.0

-

    Communication Expenses

-

0.0

0.0

0.0

-

    Taxes and Dues

-

0.0

0.0

0.0

-

    Rent

-

0.1

0.1

0.1

-

    Depreciation Expense

-

0.0

0.0

0.0

-

    Amortization of Intangibles

-

0.0

0.0

0.0

-

    Repair Expenses

-

0.0

0.0

0.0

-

    Vehicles Maintenance Expenses

-

0.1

0.1

0.1

-

    Insurance Expenses

-

0.0

0.0

0.0

-

    Entertainment Expenses

-

0.1

0.1

0.1

-

    Expenses for Consumable Goods

-

0.0

0.0

0.0

-

    Utility Expenses

-

0.0

0.0

0.0

-

    Publishing/Printing Expenses

-

0.0

0.0

0.0

-

    Commissions Paid

-

0.2

0.1

0.1

-

    Education & Training Expenses

-

-

0.0

0.0

-

    Advertising Expenses

-

0.0

0.0

0.0

-

    Expenses-Samples

-

0.0

0.0

0.0

-

    Shipping and Handling Expenses

1.0

0.7

0.9

0.9

0.9

    Sales Commissions

-

0.0

0.1

0.0

-

    Provision for Bad Debt

-

-

0.0

0.0

-

    Research & Development Expense

0.3

0.2

0.2

0.1

0.2

    Miscellaneous Operating Expense

0.1

-

0.0

0.0

1.0

    Adjustment for Other Selling Expenses

-

-

-

-

-

    Service Expense

-

0.0

-

-

-

    Adjustment for Other Administrative Expe

-

0.0

-

-

-

    Gains on Foreign Currency Transactions

-

0.0

-

-

-

    Gains on Foreign Currency Translation

-

0.0

-

-

-

    Gains on Sale of Property, Plant and Equ

-

0.0

-

-

-

    Miscellaneous Income

-

-0.2

-

-

-

    Adjustment for Other Operating Income

-

0.0

-

-

-

    Losses on Foreign Currency Transactions,

-

0.1

-

-

-

    Losses on Foreign Currency Translation,O

-

0.0

-

-

-

    Losses on Sale of Property, Plant and Eq

-

0.0

-

-

-

    Miscellaneous Losses,OE

-

0.0

-

-

-

    Adjustment for Other Operating Expense

-

0.0

-

-

-

    Other Selling Expense

0.1

-

-

-

0.0

    Labor Wages

0.9

-

-

-

0.7

    Other Administrative Expense

0.7

-

-

-

0.6

    Other Operating Income

-0.2

-

-

-

-0.9

Total Operating Expense

28.0

24.7

25.1

21.1

22.7

 

 

 

 

 

 

    Interest Income

0.1

0.0

0.1

0.1

0.0

    Dividend Income

-

2.7

0.0

0.0

-

    Gain-Foreign Exchange Transaction

-

-

0.1

0.1

-

    Gain on Foreign Currency Translation

-

-

0.0

0.0

-

    Gain on Valuation of Derivatives

-

-

0.0

0.0

-

    Gain-Disposal of Tangible Assets

-

-

0.0

0.0

-

    Reversal of Allowance for Doubtful Accou

-

-

0.0

0.0

-

    Miscellaneous Non-Operating Income

-

-

0.1

0.1

-

    Interest Expenses, Non-Operating

-0.2

-0.2

-0.2

-0.2

-0.2

    Loss-Foreign Exchange Transaction

-

-

-0.1

-0.1

-

    Loss on Foreign Currency Translation

-

-

0.0

0.0

-

    Impairment Losses on Available for Sale

-

-

0.6

-

-

    Donations Paid, Non-Operating

-

-

0.0

0.0

-

    Loss-Disposal of Tangible Assets

-

-

0.0

0.0

-

    Loss-Reduction of Investment Securities

-

-

-0.6

-

-

    Miscellaneous Non-Operating Expense

-

-

0.0

0.0

-

    Retirement Bonus Expense

-

-

0.0

0.0

-

    Gain under Equity Method

-

-

0.0

0.0

-

    Loss under Equity Method

-

-

0.1

0.0

-

Net Income Before Taxes

2.5

4.5

3.1

2.7

3.1

 

 

 

 

 

 

Provision for Income Taxes

0.8

0.9

0.7

0.5

0.8

Net Income After Taxes

1.7

3.5

2.4

2.1

2.3

 

 

 

 

 

 

Net Income Before Extra. Items

1.7

3.5

2.4

2.1

2.3

Net Income

1.7

3.5

2.4

2.1

2.3

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

1.7

3.5

2.4

2.1

2.3

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

1.7

3.5

2.4

2.1

2.3

 

 

 

 

 

 

Basic Weighted Average Shares

14.2

14.2

13.7

14.0

14.7

Basic EPS Excluding ExtraOrdinary Items

0.12

0.25

0.18

0.15

0.16

Basic EPS Including ExtraOrdinary Item

0.12

0.25

0.18

0.15

0.16

Dilution Adjustment

-

-

0.0

-

-

Diluted Net Income

1.7

3.5

2.4

2.1

2.3

Diluted Weighted Average Shares

14.2

14.2

13.7

14.0

14.7

Diluted EPS Excluding ExtraOrd Items

0.12

0.25

0.18

0.15

0.16

Diluted EPS Including ExtraOrd Items

0.12

0.25

0.18

0.15

0.16

DPS-Common Stock

0.00

0.00

0.04

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

0.6

0.0

0.0

Normalized Income Before Taxes

2.5

4.5

3.1

2.7

3.1

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

0.8

0.9

0.7

0.5

0.8

Normalized Income After Taxes

1.7

3.5

2.4

2.1

2.3

 

 

 

 

 

 

Normalized Inc. Avail to Com.

1.7

3.5

2.4

2.1

2.3

 

 

 

 

 

 

Basic Normalized EPS

0.12

0.25

0.17

0.15

0.16

Diluted Normalized EPS

0.12

0.25

0.17

0.15

0.16

Interest Expense, Supplemental

0.2

0.2

0.2

0.2

0.2

Rental Expense, Supplemental

0.1

0.1

0.1

0.1

0.1

Advertising Expense, Supplemental

0.1

0.0

0.0

0.0

0.0

R&D Expense, Supplemental

0.3

0.2

0.2

0.1

0.2

Depreciation, Supplemental

1.0

0.9

0.9

0.8

0.9

Amort of Intangibles, Supplemental

0.0

0.0

0.0

0.0

0.0

 

 

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 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Reclassified Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1134.9

1164.475

1259.55

936.05

930

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

PricewaterhouseCoopers LLP

Samil Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash/Equivalents

6.3

0.8

4.8

8.3

5.2

    ST Finl Assets

0.0

6.1

5.6

-

0.2

    ST Investment Assets

0.1

0.0

0.0

0.0

0.0

    Derivatives

-

-

1.4

-

-

    Trade Rcvbls,G

22.8

24.0

23.1

28.3

27.0

    Allw-Doubtful Ac

-0.8

-1.2

-1.7

-1.6

-1.5

    Other Rcvbls

-

-

0.0

0.6

0.1

    Other Receivables

0.0

0.0

-

-

-

    Allowance for Doubtful Accounts for Othe

0.0

0.0

-

-

-

    Advance Payments

2.4

0.0

0.0

0.9

0.0

    Prepaid Expenses

0.0

0.0

0.0

0.0

0.0

    Accrued Income

-

0.0

0.0

-

-

    Current Dfrd TAxes

0.4

0.4

0.8

0.4

0.4

    Merchandise

0.1

0.1

0.1

0.3

0.3

    Goods in Transit

-

-

-

1.3

-

    Finished Goods

8.5

4.8

3.8

2.1

1.9

    Allowance for Loss on Valuation of Finis

-0.3

0.0

-

-

-

    Goods in Transit

1.8

2.1

-

-

-

    Works in Process

4.3

3.9

2.7

6.8

2.9

    Allowance for Loss on Valuation of Works

-0.2

-0.1

-

-

-

    Raw Materials

6.7

4.7

2.1

4.7

2.1

    Allowance for Loss on Valuation of Raw M

-0.1

-

-

-

-

    Suppl. Material

1.3

1.1

1.2

1.2

1.0

    Stored Goods

0.2

0.1

0.2

0.1

0.2

Total Current Assets

53.6

46.8

44.3

53.3

39.9

 

 

 

 

 

 

    LT Finl Assets

0.0

0.0

0.0

0.0

0.0

    LT Investment Stock

271.5

175.6

163.5

250.8

1.4

    Inv. Secs. Under Equity Method

2.7

2.5

2.5

2.6

42.3

    LT Trade Rcvbls.

-

-

0.0

0.2

0.3

    Long-term Trade Receivables

0.4

1.0

-

-

-

    Allowance for Doubtful Accounts for Long

-0.1

-0.8

-

-

-

    LT Guarantee Dep

0.3

0.4

0.4

0.4

0.4

    Other Inv Assets

0.3

0.3

0.3

0.4

0.1

    Land

11.4

10.2

9.8

13.2

13.4

    Buildings

14.5

13.4

12.7

17.0

13.5

    Deprec-Buildings

-3.1

-2.7

-2.2

-2.6

-2.3

    Structures

1.6

1.5

1.4

1.8

1.8

    Deprec-Structure

-0.8

-0.7

-0.6

-0.7

-0.6

    Machinery/Equip.

45.6

39.6

35.5

49.1

33.0

    Depr-Mach/Equip.

-26.8

-23.5

-18.1

-23.1

-19.6

    Transport Equip.

0.8

0.8

0.9

1.3

1.3

    Deprec-Transport

-0.7

-0.6

-0.7

-0.9

-0.9

    Transport Equip.-Government Subsidies

0.0

0.0

0.0

-0.1

-0.1

    Tools/Equipments

0.5

0.4

0.7

1.0

0.6

    Depr-Tool/Equip

-0.3

-0.2

-0.4

-0.5

-0.5

    Fixtures

0.4

0.3

0.5

0.6

0.5

    Deprec-Fixtures

-0.2

-0.2

-0.4

-0.4

-0.4

    Construction in Progress

0.6

0.0

-

0.1

8.9

    Industrial Patnt

0.0

0.0

0.0

0.0

0.0

    Mining Rights

0.1

0.1

0.1

0.2

0.2

    Usage Right-Facility

-

-

-

0.0

0.0

    Development Cost

0.0

0.0

0.0

0.1

0.1

    Other Intangibles

0.0

0.0

0.0

0.0

0.0

Total Assets

372.3

264.4

250.3

363.6

133.2

 

 

 

 

 

 

    Trade Payable

12.6

10.1

9.7

8.2

9.3

    Other Payables

4.4

1.6

1.5

1.2

6.9

    ST Borrowings

13.2

10.8

15.5

25.6

18.9

    Advances Receivd

1.4

0.6

0.8

0.2

0.1

    Deposit Withheld

0.5

0.3

0.2

0.2

0.2

    Accrued Expenses

0.0

0.3

0.8

1.4

0.8

    Income Taxes Payable

2.2

0.9

1.1

0.8

0.4

    Sec Dep Withheld

0.1

0.1

0.1

0.2

0.1

    Derivatives in Current Liabilities

-

0.0

-

-

-

    Current LT Liab.

2.5

5.0

2.3

0.2

0.1

    VAT Withheld

0.5

0.0

-

-

-

Total Current Liability

37.5

29.9

31.9

37.9

36.9

 

 

 

 

 

 

    LT Borrowings

4.9

7.3

11.4

18.4

3.1

Total Long Term Debt

4.9

7.3

11.4

18.4

3.1

 

 

 

 

 

 

    Deferred Income Tax, Credit

58.3

37.3

34.7

66.8

9.5

    Retirement Resrv

-

-

1.0

1.2

1.1

    Deposits for Retirement and Severance Be

-

-3.5

-

-

-

    Provisions for Retirement and Severance

4.8

4.4

-

-

-

    Transfer to National Pension Fund

0.0

0.0

-

-

-

    Plan Assets

-3.7

-

-

-

-

    Long-term Provision for Restoration in L

0.2

-

-

-

-

Total Liabilities

102.1

75.4

79.0

124.2

50.5

 

 

 

 

 

 

    Common Stock

6.3

6.1

5.6

7.6

7.6

    Paid-in Capital

5.7

5.6

5.2

6.9

7.0

    Asst Revalu Rsv

11.8

11.5

10.7

14.3

14.4

    Othr Cap Surplus

3.8

3.7

3.5

4.6

0.6

    Voluntary Reserve

49.5

43.8

37.6

24.1

24.4

    Reserve-Legal

3.0

2.8

2.5

3.3

3.2

    Ret Earn Carried

11.5

7.4

5.6

30.1

27.9

    Gain-Valuation of Investment Securities

182.4

108.3

101.0

148.7

-

    Capital Change, Equity Method

0.5

0.5

0.6

-0.2

-1.4

    G/L-Valuation of Currency Swap

-

0.0

-0.2

-0.1

0.0

    Treasury Stock

-4.4

-0.8

-0.7

-

-1.0

Total Equity

270.2

189.0

171.3

239.4

82.7

 

 

 

 

 

 

Total Liabilities & Shareholde

372.3

264.4

250.3

363.6

133.2

 

 

 

 

 

 

    S/O-Common Stock

13.5

14.0

14.0

14.2

13.1

Total Common Shares Outstandin

13.5

14.0

14.0

14.2

13.1

T/S-Common Stock

0.7

0.2

0.2

-

1.1

Deferred Revenue, Current

1.4

0.6

0.8

0.2

0.1

Full-Time Employees

243

241

240

237

235

Number of Common Shareholders

4,536

4,527

3,313

2,532

1,362

LT Debt 1 yr

2.5

5.0

2.3

0.2

0.1

LT Debt 2 yrs

2.5

2.5

4.7

3.1

0.2

LT Debt 3 yrs

2.4

2.4

2.3

6.3

0.6

LT Debt 4 yrs

0.0

2.3

2.2

3.1

0.6

LT Debt 5 yrs

0.0

0.0

2.2

3.0

-

LT Debt thereafter

0.1

0.1

0.1

3.0

1.7

Total Long Term Debt, Supplemental

7.4

12.3

13.6

18.5

3.1

 

 

Interim Balance Sheet

As Reported

 

Financials in: USD (mil) 

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

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

UpdateType/Date

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Restated Normal 
31-Mar-2011

Updated Normal 
30-Sep-2010

Updated Normal 
30-Jun-2010

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1067.65

1096.95

1134.9

1140.25

1221.965

 

 

 

 

 

 

    Cash/Equivalents

-

5.3

-

3.0

2.7

    Cash

0.0

-

0.0

-

-

    Ordinary Deposits

0.0

-

0.0

-

-

    Current Financial Assets-Cash

0.3

-

6.1

-

-

    Other Cash & Cash Equivalents

0.1

-

0.2

-

-

    ST Deposits-Financial Assets

0.0

2.7

0.0

0.8

0.9

    Fixed Deposit-Financial Assets

3.7

-

-

-

-

    ST Investment Assets

0.1

0.1

0.1

0.0

0.0

    Derivatives

-

-

-

0.0

0.0

    Trade Receivables

27.1

23.0

22.8

23.5

23.4

    Reserve-Doubtful Accounts

-0.9

-0.9

-0.8

-1.3

-1.2

    Prepaid Expense

0.1

0.0

0.0

0.0

0.0

    Other Receivables

0.1

0.2

0.0

0.0

0.1

    Allowance for Doubtful Accounts for Othe

-

-

-

0.0

0.0

    Advanced Payment

2.7

1.1

2.4

0.5

0.3

    Accrued Income

-

-

-

0.0

0.0

    Deferred Income Taxes-Debit, Current

-

-

-

0.4

0.5

    Merchandises

0.2

0.1

0.1

0.1

0.1

    Finished Goods

8.5

7.3

8.3

5.0

4.8

    Allowance for Loss on Valuation of Finis

-

-

-

-0.1

-0.2

    Works in Process

4.2

4.8

4.1

5.9

4.4

    Allowance for Loss on Valuation of Works

-

-

-

-0.1

0.0

    Raw Materials

6.3

7.4

6.6

9.1

6.6

    Allowance for Loss on Valuation of Raw M

-

-

-

-0.6

-0.9

    Supplemental Raw Materials

1.4

1.1

1.3

1.1

1.1

    Stored Goods

0.4

0.3

0.2

0.3

0.2

    Goods in Transit

0.9

1.0

1.8

0.6

2.1

    Adjustment-Cash & Cash Equivalents

0.0

-

0.0

-

-

    Adjustment for Other Current Assets

0.0

0.0

0.0

-

-

    Adjustment for Inventory

0.0

0.0

0.0

-

-

    Adjustment for ST Financial Assets

0.0

-

-

-

-

    Adjsutment for Trade and Other Receivabl

0.0

-

0.0

-

-

Total Current Assets

55.1

53.8

53.2

48.3

44.8

 

 

 

 

 

 

    Long-term Financial Instruments

0.0

0.0

0.0

0.0

0.0

    Long-term Investment Assets

352.2

-

271.5

289.5

190.6

    Investment in Subsidiaries

2.8

2.7

2.6

2.5

2.5

    Long-term Trade Receivables

0.3

0.2

0.2

0.4

0.4

    Allowance for Doubtful Accounts for Long

-

-

-

-0.1

-0.1

    Long-Term Security Deposits

0.3

0.3

0.3

0.4

0.3

    Other Investment Assets

-

-

-

0.3

0.3

    Land

12.2

11.8

11.4

11.0

10.0

    Buildings

16.5

-

14.5

14.4

13.2

    Buildings-Depreciation

-3.5

-

-3.1

-3.0

-2.7

    Structures

1.7

-

1.6

1.6

1.5

    Structures-Depreciation

-0.9

-

-0.8

-0.8

-0.7

    Building & Structures

-

16.6

-

-

-

    Building & Structures-Depreciation

-

-4.1

-

-

-

    Machinery/Equipment

49.9

47.6

45.6

44.5

39.0

    Machinery/Equipment-Depreciation

-30.3

-28.7

-27.0

-26.0

-23.7

    Vehicles/Transportation Equipment

0.9

-

0.8

0.8

0.8

    Vehicles/Transportation-Depreciation

-0.7

-

-0.7

-0.7

-0.6

    Vechil-Government Subsidies

-

-

-

0.0

0.0

    Tools & Equipments

0.7

-

0.5

0.5

0.4

    Tools/Equipments-Depreciation

-0.4

-

-0.3

-0.3

-0.2

    Miscellaneous Fixtures

0.5

-

0.4

0.4

0.3

    Fixtures-Depreciation

-0.3

-

-0.2

-0.2

-0.2

    Construction in Progress

0.0

-

0.6

0.5

0.5

    Other Tangible Assets

-

2.7

-

-

-

    Other Tangibles-Depreciation

-

-1.3

-

-

-

    Adjustment for Tangible Assets

0.0

-

0.0

-

-

    Industrial Property Rights

0.0

0.0

0.0

0.0

0.0

    Membership Right

1.0

1.0

0.3

-

-

    Mining Right

-

0.1

-

0.1

0.1

    Development Cost

-

0.0

-

0.0

0.0

    Other Intangible Assets

0.1

0.0

0.1

0.0

0.0

    Adjustment for Intangible Assets

-

0.0

-

-

-

    LT Held-to-Maturity Investments

-

0.0

-

-

-

    LT Available-for-Sale Financial Assets

-

420.0

-

-

-

    Adjustment for LT Investments Assets

-

-

-

-

-

    Adjustment for Other Non-current Assets

-

0.0

-

-

-

    Adjustment for Long-term Trade and Other

-

-

-

-

-

Total Assets

458.2

522.8

371.6

384.1

276.4

 

 

 

 

 

 

    Trade Payable

12.9

11.9

12.6

12.7

9.2

    Short Term Borrowings

14.0

13.7

13.2

7.9

7.4

    Derivatives in Current Liabilities

-

-

-

0.0

0.0

    Accounts Payable

2.8

2.2

4.4

2.2

2.1

    Advances Received

1.1

1.5

1.4

1.6

0.7

    Deposit Withheld

0.2

0.2

0.5

0.2

0.2

    Accrued Expenses

0.7

0.4

0.0

0.8

0.4

    Income Taxes Payable

1.6

2.1

2.2

1.4

1.5

    VAT Withheld

0.5

0.4

0.5

0.1

0.1

    Security Deposits Withheld

0.1

0.1

0.1

0.1

0.1

    Current Portion of Long Term Debt

2.7

2.6

2.5

2.5

4.8

    Dividend Payable

-

0.6

-

-

-

    Adjustment for Other Current Liabilities

0.0

0.0

0.0

-

-

    Adjustment for Trade and Other Liabiliti

0.0

-

-

-

-

Total Current Liabilities

36.7

35.8

37.5

29.6

26.4

 

 

 

 

 

 

    Long-Term Borrowings

3.9

4.4

4.9

5.5

5.7

Total Long Term Debt

3.9

4.4

4.9

5.5

5.7

 

 

 

 

 

 

    Deferred Income Tax, Credit

75.5

90.6

57.9

62.3

40.6

    Provisions for Retirement and Severance

-

-

-

4.5

4.6

    Transfer to National Pension Fund

-

-

-

0.0

0.0

    Deposits for Retirement and Severance Be

-

-

-

-2.9

-3.2

    LT Defined Benefit Liabilities

1.9

2.4

2.5

-

-

    LT Provisions

0.3

0.2

0.2

0.2

0.2

Total Liabilities

118.3

133.5

103.1

99.2

74.4

 

 

 

 

 

 

    Common Stock

7.0

6.8

6.3

6.2

5.8

    Capital Surplus, Total

6.1

-

5.7

-

-

    Paid-in Capital in Excess of Par

-

5.9

-

5.7

5.3

    Other Capital Surplus

-

-

-

3.8

3.6

    Other Capital

-

296.7

-

-

-

    Retained Earnings or Accumulated Deficit

-

80.0

-

-

-

    Legal Reserve

3.3

-

3.0

3.0

2.8

    Voluntary Reserve

61.2

-

49.5

49.3

46.0

    Retained Earnings Before Appropriations

19.5

-

22.2

9.1

6.4

    Reserve for Assets Revaluation

-

-

-

11.8

11.0

    Gain-Valuation of Available-for-Sale Fin

243.5

-

182.4

196.5

121.3

    Gains on Sale of Treasury Stock

4.1

-

3.8

-

-

    Capital Change, Equity Method

-

-

-

0.5

0.6

    G/L-Valuation of Currency Swap

-

-

-

0.0

0.0

    Treasury Stock

-4.7

-

-4.4

-1.0

-0.8

    Adjustment for Other Capital

0.0

-

-

-

-

    Adjustment for Retained Earnings

0.0

-

-

-

-

Total Equity

340.0

389.4

268.6

284.9

202.0

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

458.2

522.8

371.6

384.1

276.4

 

 

 

 

 

 

    S/O-Common Stock

14.2

14.2

13.5

13.9

14.0

Total Common Shares Outstanding

14.2

14.2

13.5

13.9

14.0

T/S-Common Stock

0.7

0.7

0.7

0.3

0.2

Deferred Current Revenues

1.1

1.5

1.4

1.6

0.7

Full-Time Employees

248

250

243

242

237

Number of Common Shareholders

-

-

4,536

-

-

Long Term Debt Maturing within 1 Year

2.7

-

-

-

4.8

Long Term Debt Maturing within 2 Years

2.5

-

-

-

2.3

Long Term Debt Maturing within 3 Years

1.3

-

-

-

2.2

Long Term Debt Maturing within 4 Years

0.0

-

-

-

1.1

Long Term Debt Remaining Maturities

0.1

-

-

-

0.1

Total Long Term Debt, Supplemental

6.6

-

-

-

10.5

 

 

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-2006

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2010

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Updated Normal 
31-Dec-2006

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

1100.562842

929.183333

955.035724

Auditor

KPMG LLP

KPMG LLP

KPMG LLP

PricewaterhouseCoopers LLP

Samil Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

9.3

4.9

4.0

3.2

4.3

    Depreciation

3.4

4.2

4.6

4.3

3.8

    Retirement Allowance

1.3

1.1

1.2

1.6

1.3

    Loss-Reduction of Investment Securities

-

-

-

0.0

-

    L-For Exch Translatn

0.0

0.0

2.0

0.2

0.2

    Loss-Valuation of Inventory

0.5

-

1.8

-

-

    Loss-Disposal of Tangible Assets

0.0

0.2

0.4

0.0

0.0

    Amort-Intangible Assets

0.0

0.0

0.0

0.1

0.1

    Provision-Doubtful Account

-

0.4

0.8

-

-

    Fee-Derivatives Transaction

-

-

-

0.0

-

    Loss Under Equity Method Valuation

-

-

0.3

0.1

0.3

    Loss-Derivative Valuation

-

-

-

-

0.2

    Impairment Losses on Investments

0.6

-

-

-

-

    Recovery of Losses on Valuation of Inven

-

-1.7

-

-

-

    G-Tangible Asst Disp

0.0

-1.0

0.0

0.0

0.0

    Gains on Valuation of Equity Method Secu

-0.1

0.0

-

-4.2

-3.7

    Gain-Derivatives Valuation

-

-

-1.9

-0.2

-

    Interest Expenses Adjust.-Currency Swap

-

-

-

-

0.0

    G-For Exch Translatn

0.0

0.0

0.0

-

-0.3

    Provision-Restoration

0.2

-

-

-

-

    Reversal of Allowance for Doubtful Accou

-0.6

-

-

-

-

    Trade Receivables

1.3

-0.2

-2.7

-1.4

-2.8

    Account Receivables

0.0

0.0

0.4

-0.4

0.0

    Accrued Income

0.0

0.0

0.0

-

-

    Decrease or Increase in Derivative Asset

-

1.7

-

-

-

    Advance Payments

-2.3

0.0

0.8

-0.9

0.0

    Prepaid Expenses

0.0

0.0

0.0

0.0

0.1

    Inventories

-5.6

-3.6

0.7

-8.4

-0.8

    LT Trade Rcvbls

0.0

-

0.1

0.1

0.0

    Trade Payables

2.2

-0.3

4.0

-1.0

1.1

    Account Payables

2.7

0.4

0.8

-5.7

-0.6

    Advances Received

0.7

-0.2

0.7

0.1

0.0

    Deposits Withheld

0.2

0.1

0.1

0.0

0.0

    Accrued Expenses

-0.3

-0.5

-0.3

0.5

0.2

    Accrued Inc Tax

1.2

-0.3

0.6

-1.0

0.2

    Security Deposits

0.0

0.0

0.0

0.0

0.0

    Reserve-Inventory Valuation Loss Rsv.

-

-

-

0.4

-

    Nation Pension Fnd

0.0

0.0

0.0

0.0

0.0

    Retiremt Allow Paymt

-1.1

-1.0

-1.0

-1.0

-1.2

    Increase or Decrease in Derivative Liabi

0.0

-

-

-

-

    Retirement Insurance

-0.1

-0.2

-0.1

-0.5

0.5

    Deferred Taxes-Liab.

-0.1

0.0

-1.7

0.6

1.2

    Deferred Taxes-Asset

0.0

0.4

-0.5

0.0

-0.1

    VAT Withheld

0.5

-0.4

-

-

-

Cash from Operating Activities

14.1

4.1

15.0

-13.5

4.0

 

 

 

 

 

 

    Decrease-LT Financial Assets

-

-

-

0.0

-

    Proceeds from Sale of Short-term Financi

6.1

0.0

-

0.2

0.0

    Dec-Marketable Secs

0.0

0.0

0.0

0.0

0.0

    Decrease-Other Investment Asset

-

-

-

-

0.0

    Decrease in Deposits Provided

0.1

0.0

-

-

-

    Increase-Dividend

-

-

-

0.7

0.6

    Increase-Government Subsidies

-

-

-

-

0.1

    Dec-LT Loans

-

-

-

-

0.0

    Dec-Guarantee Dep

-

-

-

0.0

0.0

    Proceeds from Sale of Land

-

1.3

-

0.0

-

    Disposal-Buildings

-

-

-

0.1

-

    Disposal-Structure

-

-

0.0

-

-

    Disp-Machinery

0.0

0.0

0.6

-

0.0

    Disposal-Tools & Supplies

-

-

0.0

0.0

-

    Disp-Vehicles

0.0

0.1

0.0

0.0

0.0

    Proceeds from Sale of Office Equipment

-

0.0

-

-

-

    Proceeds from Other Intangible Assets

-

0.0

-

-

-

    Purchase of Long-term Financial Instrume

0.0

-

-

-

-

    Inc-ST Finl Asset

-

-

-6.4

-

0.0

    Increase-Other Investment Assets

-

-

-

-0.3

-

    Inc-Investment Secs

0.0

0.0

0.0

0.0

-0.2

    Inc-Inv. Secs. Under Equity Method

-

-

-

-

-0.3

    Inc-Guarantee Dep

0.0

-

-0.1

-

-0.1

    Increase-Buildings

-0.8

0.0

0.0

-0.9

-

    Increase-Structure

-0.1

0.0

-0.1

0.0

-

    Acq-Machinery

-4.9

-1.1

-1.8

-10.7

-0.8

    Acq-Vehicles

-0.1

-

-0.1

-0.1

-0.2

    Acq-Tools/Equipmt

-0.1

0.0

0.0

-0.1

0.0

    Acq-Fixtures

-0.1

0.0

-0.1

-0.1

-0.1

    Acq-Constructn Prog

-0.5

0.0

-0.9

-0.1

-3.7

    Acq-Dev't Cost

-

-

-

-

-0.1

    Increase-Industrial Patent

-

-

-

0.0

0.0

    Increase-Other Intangibles

0.0

0.0

0.0

0.0

0.0

    Purchase of Land

-0.9

-

-

-

-

Cash from Investing Activities

-1.3

0.2

-9.0

-11.2

-4.5

 

 

 

 

 

 

    Inc-ST Borrowings

20.8

6.6

13.7

15.9

13.1

    Inc-LT Borrowing

-

-

-

15.6

2.1

    Disposal-Treasury Stock

-

-

-

6.3

-

    Dec-ST Borrowings

-18.7

-12.0

-19.7

-9.3

-11.8

    Dec-Curr LT Liabs

-5.1

-2.2

-0.1

-0.1

0.0

    Payment-Dividends

-0.9

-0.7

-0.6

-0.7

-0.6

    Acquisition-Treasury Stock

-3.5

-

-0.9

-

-

Cash from Financing Activities

-7.4

-8.3

-7.6

27.8

2.8

 

 

 

 

 

 

Net Change in Cash

5.4

-4.0

-1.6

3.1

2.2

 

 

 

 

 

 

Net Cash - Beginning Balance

0.8

4.7

7.1

5.2

2.9

Net Cash - Ending Balance

6.2

0.7

5.5

8.4

5.1

 

 

Interim Cash Flows

As Reported

 

Financials in: USD (mil) 

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

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

6 Months

3 Months

12 Months

9 Months

6 Months

UpdateType/Date

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Updated Normal 
31-Dec-2010

Updated Normal 
30-Sep-2010

Reclassified Normal 
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1101.856011

1120.28956

1156.281981

1164.307745

1155.056202

 

 

 

 

 

 

Net Income

5.3

3.5

9.3

6.9

4.7

    Depreciation

1.9

0.9

3.4

2.5

1.8

    Amortization of Intangible Assets

0.0

0.0

0.0

0.0

0.0

    Corporate Taxes

1.7

0.9

-

-

1.3

    Interest Expenses

0.5

0.2

-

-

0.5

    Provision for Retirement Allowances

0.7

0.4

1.3

1.0

0.6

    Long-term Provision for Restoration in L

0.1

-

0.2

0.2

0.2

    Loss on Foreign Currency Translation

0.0

0.0

0.0

0.0

0.0

    Loss-Valuation of Inventory

0.3

-

0.5

0.7

1.1

    Provision-Doubtful Account

-

-

-

0.0

0.0

    Loss-Equity Method Investment Valuation

-

-

-

0.1

-

    Loss-Disposal of Tangible Assets

0.0

0.0

0.0

0.0

-

    Impairment Losses on Available for Sale

-

-

-

-

0.6

    Interest Income

-0.1

0.0

-

-

0.1

    Recovery of Losses on Valuation of Inven

-

0.0

-

0.0

-

    Recovery-Doubtful Credit Reserve

-

-

-0.6

-0.6

-0.6

    Gain-Derivatives Valuation

-

-

-

0.0

-

    Gain-Disposal of Tangible Assets

0.0

0.0

0.0

0.0

0.0

    Gain under Equity Method

-

-

-0.1

0.0

-

    Gain-Foreign Currency Translation

0.0

0.0

0.0

0.0

0.0

    Net Gain on Derivative Transaction

-

-

-

-

0.0

    Impairment Losses on Long-Term Investmen

-

-

0.6

0.6

-

    Trade Receivables

-2.7

0.6

1.3

0.9

-0.6

    Long-Term Trade Receivable

-

-

0.0

0.0

0.0

    Other Receivable

-0.1

-0.2

0.0

0.0

0.0

    Advanced Payments

-

1.3

-2.3

-0.4

-

    Prepaid Income Taxes

-

-

-

0.0

-

    Prepaid Expense

-

0.0

0.0

0.0

-

    Accrued Income

-

-

0.0

0.0

-

    Inventories

2.4

1.0

-5.6

-5.0

-3.5

    Deferred Income Tax Debit

-

-

0.0

0.0

-

    Trade Payables

-0.5

-1.2

2.2

2.4

-0.5

    Other Payable

-1.2

-2.3

2.7

0.5

0.5

    Advances Received

-

0.1

0.7

1.0

-

    Deposits Withheld

-

-0.3

0.2

-0.1

-

    Accrued Expenses

-

0.4

-0.3

0.5

-

    Accrued Income Taxes

-

-0.1

1.2

0.5

-

    VAT Withheld

-

-0.1

0.5

0.0

-

    Security Deposits

-

0.0

0.0

0.0

-

    Payment-Retirement Allowance

0.0

0.0

-1.1

-1.0

-0.1

    Reserve for National Pension

-

-

0.0

0.0

-

    Deposits for Retirement

-

-0.5

-0.1

0.6

-

    Plan Assets

-1.5

-

-

-

-

    Increase or Decrease in Derivative Liabi

-

-

0.0

-

-

    Other Current Liabilities

-0.7

-

-

-

0.1

    Deferred Income Tax Credit

-

0.1

-0.1

0.0

-

    Other Current Assets

-1.1

-

-

-

-0.3

    Decrease or Increase in Derivative Asset

-

-

-

0.0

-

    Dividend Income

-2.8

-

-

-

-1.6

    Adjustment

0.0

0.0

-

-

0.0

    Dividends Received

2.8

-

-

-

1.6

    Cash-Interest Received

0.1

0.0

-

-

0.1

    Cash-Interest Paid

-0.5

-0.2

-

-

-0.4

    Cash-Tax Paid

-2.4

-1.0

-

-

-0.9

Cash from Operating Activities

2.3

3.5

14.1

11.3

4.8

 

 

 

 

 

 

    Proceeds from Sale of ST Financial Instr

-3.6

0.0

6.1

5.3

5.2

    Proceeds from Sale of Held-to-Maturity S

0.0

-

-

-

0.0

    Disposal-Short Term Investment Assets

-

0.0

0.0

0.0

-

    Decrease in Deposits Provided

0.0

0.0

0.1

0.1

0.0

    Decrease-Tangible Assets

0.1

0.1

-

-

0.0

    Disposal-Tools & Supplies

-

-

-

0.0

-

    Disposal-Transportation

-

-

0.0

0.0

-

    Disposal-Machinery and Equipments

-

-

0.0

0.0

-

    Proceeds from Sale of Office Equipment

-

-

-

0.0

-

    Proceeds from Sale of Land

-

-

-

0.0

-

    Disposal-Structure

-

-

-

0.0

-

    Proceeds from Other Intangible Assets

-

-

-

0.0

-

    Increase-ST Financial Assets

-

-2.7

-

0.0

-

    Purchase of Long-term Financial Instrume

-

-

0.0

0.0

0.0

    Increase-Other Investment Assets

-

-0.6

-

-

-

    Inc-ST Securities Held to Maturities

0.0

-

-

-

0.0

    Increase in Investment Securities

-

0.0

0.0

0.0

-

    Purchase of Property, Plant and Equipmen

-2.4

-0.9

-

-

-2.7

    Purchase of Land

-

-

-0.9

-0.5

-

    Increase-Buildings

-

-

-0.8

-0.7

-

    Increase-Structure

-

-

-0.1

-0.1

-

    Acquisition-Machinery and Equipment

-

-

-4.9

-4.0

-

    Increase in Transportation

-

-

-0.1

-0.1

-

    Acquisition of Tools

-

-

-0.1

0.0

-

    Increase in Fixtures

-

-

-0.1

-0.1

-

    Increase-Construction Progress

-

-

-0.5

-0.5

-

    Increase-Other Intangible Assets

-

0.0

0.0

0.0

-

    Purchase of Intangible Assets

-0.6

-

-

-

0.0

    Increase-Guarantee Deposits

0.0

0.0

0.0

0.0

0.0

Cash from Investing Activities

-6.5

-4.1

-1.3

-0.5

2.5

 

 

 

 

 

 

    Increase in Short-Term Borrowings

-

-

20.8

7.7

-

    Decrease in Short-Term Borrowings

-

-

-18.7

-10.8

-3.1

    Dec-Current Portion of LT Liabilities

-1.3

-0.6

-5.1

-4.4

-1.2

    Increase-Treasury Stocks

0.0

-

-3.5

-0.2

-

    Dividends Paid

-0.6

-

-0.9

-0.9

-0.9

    Expense for Stock Issuance

0.0

-

-

-

-

Cash from Financing Activities

-1.9

-0.6

-7.4

-8.6

-5.3

 

 

 

 

 

 

Foreign Exchange Effects

0.0

-

-

-

0.0

Net Change in Cash

-6.2

-1.3

5.4

2.1

2.0

 

 

 

 

 

 

Net Cash Beginning Balance

6.5

6.4

0.8

0.8

0.8

Net Cash Ending Balance

0.4

5.1

6.2

2.9

2.8

    Cash Interest Paid

0.5

0.2

-

-

0.4

    Cash Taxes Paid

2.4

1.0

-

-

0.9

 

 

Business Segments

 

Financials in: As Reported (mil)

Annual

 

 

 

External Revenue   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Cement

63.2

61.8 %

56.1

75.6 %

55.7

59.2 %

56.0

81.1 %

Metal

39.1

38.2 %

18.1

24.4 %

38.3

40.8 %

13.1

18.9 %

Segment Total

102.4

100 %

74.1

100 %

94.0

100 %

69.1

100 %

Consolidated Total

102.4

100 %

74.1

100 %

94.0

100 %

69.1

100 %

Exchange Rate: KRW to USD

1,156.281981

 

1,276.385219

 

1,100.562842

 

929.183333

 

Total Revenue   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Cement

63.2

61.8 %

56.1

75.6 %

55.7

59.2 %

56.0

81.1 %

Metal

39.1

38.2 %

18.1

24.4 %

38.3

40.8 %

13.1

18.9 %

Segment Total

102.4

100 %

74.1

100 %

94.0

100 %

69.1

100 %

Consolidated Total

102.4

100 %

74.1

100 %

94.0

100 %

69.1

100 %

Exchange Rate: KRW to USD

1,156.281981

 

1,276.385219

 

1,100.562842

 

929.183333

 

 

Depreciation   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Cement

1.6

47.5 %

2.7

64.1 %

3.0

64.7 %

3.5

80.9 %

Metal

1.8

52.5 %

1.5

35.9 %

1.6

35.3 %

0.8

19.1 %

Segment Total

3.4

100 %

4.2

100 %

4.7

100 %

4.4

100 %

Consolidated Total

3.4

100 %

4.2

100 %

4.7

100 %

4.4

100 %

Exchange Rate: KRW to USD

1,156.281981

 

1,276.385219

 

1,100.562842

 

929.183333

 

Operating Income/Loss   USD (mil)

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Cement

9.8

90.5 %

6.3

119.1 %

4.5

103.1 %

1.2

186.5 %

Metal

1.0

9.5 %

-1.0

-19.1 %

-0.1

-3.1 %

-0.5

-86.5 %

Segment Total

10.9

100 %

5.3

100 %

4.4

100 %

0.6

100 %

Consolidated Total

10.9

100 %

5.3

100 %

4.4

100 %

0.6

100 %

Exchange Rate: KRW to USD

1,156.281981

 

1,276.385219

 

1,100.562842

 

929.183333

 

 

Operating Margin (%)  

 

31-Dec-10

31-Dec-09

31-Dec-08

31-Dec-07

Cement

15.5

-

11.3

-

8.1

-

2.1

-

Metal

2.6

-

-5.6

-

-0.4

-

-4.2

-

Segment Total

10.6

-

7.2

-

4.7

-

0.9

-

Consolidated Total

10.6

-

7.2

-

4.7

-

0.9

-

Long Lived Assets   USD (mil)

 

31-Dec-10

31-Dec-09

Cement

21.6

49.5 %

23.5

61.3 %

Metal

22.0

50.5 %

14.9

38.7 %

Segment Total

43.5

100 %

38.4

100 %

Consolidated Total

43.5

100 %

38.4

100 %

Exchange Rate: KRW to USD

1,134.900000

 

1,164.475000

 

 

 

Business Segments

 

Financials in: As Reported (mil)

 

Interim

 

 

External Revenue   USD (mil)

 

30-Jun-11

31-Mar-11

31-Dec-10

30-Jun-10

31-Mar-10

Cement

33.3

58.3 %

15.2

57.3 %

31.8

61.1 %

31.4

62.5 %

14.5

59.6 %

Metal

23.9

41.7 %

11.4

42.7 %

20.2

38.9 %

18.9

37.5 %

9.8

40.4 %

Segment Total

57.2

100 %

26.6

100 %

52.0

100 %

50.3

100 %

24.3

100 %

Consolidated Total

57.2

100 %

26.6

100 %

52.0

100 %

50.3

100 %

24.3

100 %

Exchange Rate: KRW to USD

1,101.856011

 

1,120.289560

 

1,157.893838

 

1,155.056202

 

1,145.278736

 

Total Revenue   USD (mil)

 

30-Jun-11

31-Mar-11

31-Dec-10

30-Jun-10

31-Mar-10

Cement

33.3

58.3 %

15.2

57.3 %

31.8

61.1 %

31.4

62.5 %

14.5

59.6 %

Metal

23.9

41.7 %

11.4

42.7 %

20.2

38.9 %

18.9

37.5 %

9.8

40.4 %

Segment Total

57.2

100 %

26.6

100 %

52.0

100 %

50.3

100 %

24.3

100 %

Consolidated Total

57.2

100 %

26.6

100 %

52.0

100 %

50.3

100 %

24.3

100 %

Exchange Rate: KRW to USD

1,101.856011

 

1,120.289560

 

1,157.893838

 

1,155.056202

 

1,145.278736

 

 

Depreciation   USD (mil)

 

31-Mar-11

31-Dec-10

30-Jun-10

31-Mar-10

Cement

0.3

35.7 %

0.8

43.8 %

0.9

51.3 %

0.3

38.4 %

Metal

0.6

64.3 %

1.0

56.2 %

0.8

48.7 %

0.6

61.6 %

Segment Total

0.9

100 %

1.7

100 %

1.7

100 %

0.9

100 %

Consolidated Total

0.9

100 %

1.7

100 %

1.7

100 %

0.9

100 %

Exchange Rate: KRW to USD

1,120.289560

 

1,157.893838

 

1,155.056202

 

1,145.278736

 

Operating Income/Loss   USD (mil)

 

30-Jun-11

31-Mar-11

31-Dec-10

30-Jun-10

31-Mar-10

Cement

4.9

108.1 %

1.6

87.2 %

4.9

83.7 %

5.2

106.2 %

1.5

90.8 %

Metal

-0.4

-8.1 %

0.2

12.8 %

0.9

16.3 %

-0.3

-6.2 %

0.2

9.2 %

Segment Total

4.6

100 %

1.8

100 %

5.8

100 %

4.9

100 %

1.6

100 %

Consolidated Total

4.6

100 %

1.8

100 %

5.8

100 %

4.9

100 %

1.6

100 %

Exchange Rate: KRW to USD

1,101.856011

 

1,120.289560

 

1,157.893838

 

1,155.056202

 

1,145.278736

 

 

Operating Margin (%)  

 

30-Jun-11

31-Mar-11

31-Dec-10

30-Jun-10

31-Mar-10

Cement

14.8

-

10.2

-

15.3

-

16.5

-

10.3

-

Metal

-1.6

-

2.0

-

4.7

-

-1.6

-

1.5

-

Segment Total

8.0

-

6.7

-

11.2

-

9.7

-

6.8

-

Consolidated Total

8.0

-

6.7

-

11.2

-

9.7

-

6.8

-

Income Before Tax   USD (mil)

 

30-Jun-11

30-Jun-10

Cement

7.5

107.7 %

6.4

105.7 %

Metal

-0.5

-7.7 %

-0.3

-5.7 %

Segment Total

7.0

100 %

6.0

100 %

Consolidated Total

7.0

100 %

6.0

100 %

Exchange Rate: KRW to USD

1,101.856011

 

1,155.056202

 

 

Pre-Tax Margin (%)  

 

30-Jun-11

30-Jun-10

Cement

22.6

-

20.2

-

Metal

-2.3

-

-1.8

-

Segment Total

12.2

-

12.0

-

Consolidated Total

12.2

-

12.0

-

Income After Tax   USD (mil)

 

30-Jun-11

30-Jun-10

Cement

5.7

107.7 %

4.9

105.7 %

Metal

-0.4

-7.7 %

-0.3

-5.7 %

Segment Total

5.3

100 %

4.7

100 %

Consolidated Total

5.3

100 %

4.7

100 %

Exchange Rate: KRW to USD

1,101.856011

 

1,155.056202

 

 

Net Profit Margin (%)  

 

30-Jun-11

30-Jun-10

Cement

17.2

-

15.7

-

Metal

-1.7

-

-1.4

-

Segment Total

9.3

-

9.3

-

Consolidated Total

9.3

-

9.3

-

Long Lived Assets   USD (mil)

 

30-Jun-11

31-Mar-11

31-Dec-10

30-Jun-10

31-Mar-10

Cement

20.1

43.4 %

18.9

41.2 %

21.6

49.5 %

20.6

54.6 %

17.3

43 %

Metal

26.3

56.6 %

26.9

58.8 %

22.0

50.5 %

17.1

45.4 %

23.0

57 %

Segment Total

46.4

100 %

45.8

100 %

43.5

100 %

37.7

100 %

40.3

100 %

Consolidated Total

46.4

100 %

45.8

100 %

43.5

100 %

37.7

100 %

40.3

100 %

Exchange Rate: KRW to USD

1,067.650000

 

1,096.950000

 

1,134.900000

 

1,221.965000

 

1,131.450000

 

 

Total Assets   USD (mil)

 

30-Jun-11

Cement

404.3

88.2 %

Metal

53.9

11.8 %

Segment Total

458.2

100 %

Consolidated Total

458.2

100 %

Exchange Rate: KRW to USD

1,067.650000

 

Operating Return on Assets (%)  

 

30-Jun-11

Cement

1.3

-

Metal

-0.7

-

Segment Total

1.0

-

Consolidated Total

1.0

-

 

Total Liabilities   USD (mil)

 

30-Jun-11

Cement

105.1

88.8 %

Metal

13.2

11.2 %

Segment Total

118.3

100 %

Consolidated Total

118.3

100 %

Exchange Rate: KRW to USD

1,067.650000

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.38

UK Pound

1

Rs.74.01

Euro

1

Rs.64.48

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

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

 

Unlimited

71-85

Aa

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

 

Large

56-70

A

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

 

Fairly Large

41-55

Ba

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

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

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

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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

 

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

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

 

 

 

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

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