MIRA INFORM REPORT

 

 

Report Date :

03.08.2012

 

IDENTIFICATION DETAILS

 

Name :

DONGKOOK PHARM CO., LTD.

 

 

Registered Office :

Dongkook Bldg., 997-8, Daechi 2-Dong, Gangnam-Gu, Seoul, 135502

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

15.10.1968

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

Subject is engaged in the development and manufacture of pharmaceuticals.

 

 

No. of Employees :

499

 

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 

 

DONGKOOK Pharm Co., Ltd.

Dongkook Bldg., 997-8, Daechi 2-Dong, Gangnam-Gu

Seoul, 135502

Korea, Republic of

Tel:       82-2-21919800

Fax:      82-2-5668542

Web:    www.dkpharm.co.kr

           

 

Synthesis

 

Employees:                  499

Company Type:            Public Independent

Traded:                         KOSDAQ:                     086450

Incorporation Date:         15-Oct-1968

Auditor:                         KPMG LLP       

Financials in:                 USD (millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       South Korean Won

Annual Sales:               144.7  1

Net Income:                   18.2

Total Assets:                 157.2  2

Market Value:                113.2 (20-Jul-2012)

 

 

Business Description   

 

DongKook Pharmaceutical Co., Ltd. is a Korea-based company engaged in the development and manufacture of pharmaceuticals. The Company develops and provides remedies for oral troubles, skin troubles and gynecology diseases, contrast mediums, anesthetics, anticancer medicines and circulatory system agents. It also provides other pharmaceuticals, such as remedies for arthritis and pancreatitis, antiphlogistics, anodynes, antibiotics and vitamins, as well as raw materials for pharmaceuticals. The Company distributes its products within domestic market and to overseas markets, such as Japan, Germany, India, Brazil and Mexico, among others. As of December 31, 2011, the Company had two affiliated companies. For the six months ended 30 June 2011, Dongkook Pharmaceutical Co., Ltd.'s revenues increased 11% to W76.55B. The Company's net income increased 13% to W9.92B. Revenues reflect increased demand of Company's finished goods and merchandises. Net income also benefited from increased interest, increased dividend income, increased gain on valuation of derivatives and increased gains on disposal of financial assets available for sale.

 

Industry             

Industry            Biotechnology and Drugs

ANZSIC 2006:    1841 - Human Pharmaceutical and Medicinal Product Manufacturing

NACE 2002:      2442 - Manufacture of pharmaceutical preparations

NAICS 2002:     325412 - Pharmaceutical Preparation Manufacturing

UK SIC 2003:    24421 - Manufacture of medicaments

US SIC 1987:    2834 - Pharmaceutical Preparations

 

Key Executives   

 

Name

Title

Yeong Wuk Lee

President, Co-Chief Executive Officer, Director

Gyu Jin Jung

Internal Auditor

Hae Don Lee

Vice President & Co-Chief Executive Officer

Dong Suhk Han

Co-Auditor

J. H. Kim

Chief Tr

 

 

Significant Developments  

 

Topic

#*

Most Recent Headline

Date

Equity Investments

2

DONGKOOK Pharm Co., Ltd. Announces Changes in Shareholding Structure

1-Feb-2012

Dividends

1

DONGKOOK Pharm Co., Ltd. Declares Annual Cash Dividend for FY 2011

27-Feb-2012

 

* number of significant developments within the last 12 months   

 

 

Financial Summary    

 

As of 31-Mar-2012

Key Ratios                               Company         Industry

Current Ratio (MRQ)                   3.08                  3.42

Quick Ratio (MRQ)                     2.45                  2.80

Debt to Equity (MRQ)                 0.04                  0.38

Sales 5 Year Growth                  15.39                18.88

Net Profit Margin (TTM) %           11.94                10.79

Return on Assets (TTM) %          10.86                0.86

Return on Equity (TTM) %           15.23                9.14

 

 

Stock Snapshot    

 

 

Traded: KOSDAQ: 086450

 

As of 20-Jul-2012

   Financials in: KRW

Recent Price

14,500.00

 

EPS

2,344.89

52 Week High

19,900.00

 

Price/Sales

0.80

52 Week Low

10,800.00

 

Dividend Rate

380.00

Avg. Volume (mil)

0.0071

 

Price/Earnings

7.60

Market Value (mil)

128,934.00

 

Price/Book

0.98

 

 

 

Beta

0.69

 

Price % Change

Rel S&P 500%

4 Week

0.0000%

1.34%

13 Week

-4.29%

3.67%

52 Week

-6.75%

9.73%

Year to Date

3.57%

3.73%

 

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1107.891

2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1152

 

 

Corporate Overview

 

Location

Dongkook Bldg.

, 997-8, Daechi 2-Dong, Gangnam-Gu

Seoul, 135502

Korea, Republic of

Tel:       82-2-21919800

Fax:      82-2-5668542

Web:    www.dkpharm.co.kr

           

Quote Symbol - Exchange

086450 - KOSDAQ

Sales KRW(mil):            160,341.1

Assets KRW(mil):          181,151.4

Employees:                   499

Fiscal Year End:            31-Dec-2011

Industry:                        Biotechnology and Drugs

Incorporation Date:         15-Oct-1968

Company Type:             Public Independent

Quoted Status:              Quoted

Co-Chief Executive Officer, Vice President, Director:         Heung Ju Oh

 

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:

1841     -          Human Pharmaceutical and Medicinal Product Manufacturing

6910     -          Scientific Research Services

 

NACE 2002 Codes:

2441     -          Manufacture of basic pharmaceutical products

2442     -          Manufacture of pharmaceutical preparations

7310     -          Research and experimental development on natural sciences and engineering

 

NAICS 2002 Codes:

325411  -          Medicinal and Botanical Manufacturing

325412  -          Pharmaceutical Preparation Manufacturing

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

 

US SIC 1987:

8731     -          Commercial Physical and Biological Research

2833     -          Medicinal Chemicals and Botanical Products

2834     -          Pharmaceutical Preparations

 

UK SIC 2003:

7310     -          Research and experimental development on natural sciences and engineering

24421   -          Manufacture of medicaments

2441     -          Manufacture of basic pharmaceutical products

 

Business Description

DongKook Pharmaceutical Co., Ltd. is a Korea-based company engaged in the development and manufacture of pharmaceuticals. The Company develops and provides remedies for oral troubles, skin troubles and gynecology diseases, contrast mediums, anesthetics, anticancer medicines and circulatory system agents. It also provides other pharmaceuticals, such as remedies for arthritis and pancreatitis, antiphlogistics, anodynes, antibiotics and vitamins, as well as raw materials for pharmaceuticals. The Company distributes its products within domestic market and to overseas markets, such as Japan, Germany, India, Brazil and Mexico, among others. As of December 31, 2011, the Company had two affiliated companies. For the six months ended 30 June 2011, Dongkook Pharmaceutical Co., Ltd.'s revenues increased 11% to W76.55B. The Company's net income increased 13% to W9.92B. Revenues reflect increased demand of Company's finished goods and merchandises. Net income also benefited from increased interest, increased dividend income, increased gain on valuation of derivatives and increased gains on disposal of financial assets available for sale.

 

More Business Descriptions

Manufacture of pharmaceutical products

 

DONGKOOK Pharmaceutical Co., Ltd. (Dongkook) is a publicly held pharmaceutical company engaged in the development and manufacturing of pharmaceutical products. The product portfolio of the company consists of tablets, injection and syrups for the treatment of anticancer medicines, contrast mediums, gynecology diseases, circulatory system agents, anesthetics, arthritis and diabetes. It also provides pharmaceuticals such as anodynes, vitamins, among others. The company sells its products in domestic market and exports to China, Japan, India, Africa, Europe, Latin America and areas. Dongkook owns a central research institute for conducting its research activities such as the development of biotechnology and organic synthesis. The company is headquartered in Seoul, Korea.The company reported revenues of (Won) KRW 160,341.08 million during the fiscal year ended December 2011, an increase of 13.31% over 2010. The operating profit of the company was KRW 25,480.77 million during the fiscal year 2011, an increase of 15.36% over 2010. The net profit of the company was KRW 20,217.30 million during the fiscal year 2011, an increase of 16.88% over 2010.

 

Pharmaceutical and Medicine Manufacturing

 

 

 

Financial Data

Financials in:

KRW(mil)

 

Revenue:

160,341.1

Net Income:

20,217.3

Assets:

181,151.4

Long Term Debt:

0.0

 

Total Liabilities:

50,111.1

 

Working Capital:

16.0

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

13.3%

16.9%

15.8%

 

Market Data

Quote Symbol:

086450

Exchange:

KOSDAQ

Currency:

KRW

Stock Price:

14,500.0

Stock Price Date:

07-20-2012

52 Week Price Change %:

-6.8

Market Value (mil):

128,934,000.0

 

SEDOL:

B1Y3XY6

ISIN:

KR7086450004

 

Equity and Dept Distribution:

All financials reflect non-consolidated data. 10/30/05, 2-for-1 stock split (F:2). Shares information has been adjusted. 6/09, 1.00 : 0.30 Scrip Issue (F=1.3). FY'09 Q1 & FY'10 Q1 are CCA.

 

Key Corporate Relationships

Auditor:

KPMG LLP

 

Auditor:

Echon Accounting Corporation, KPMG LLP

 

 

 

 

 

 

 

 

 

 

Competitors Report

 

CompanyName

Location

Employees

Ownership

Daehan New Pharm Co., Ltd.

Hwaseong, Korea, Republic of

193

Public

Daehwa Pharm Co., Ltd.

Hoengseong, Korea, Republic of

310

Public

Dongwha Pharm Co Ltd

Seoul, Korea, Republic of

788

Public

Dynavax Technologies Corporation

Berkeley, California, United States

150

Public

Huons Co Ltd

Seongnam, Korea, Republic of

388

Public

ViroMed Co Ltd

Seoul, Korea, Republic of

52

Public

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Gi Beom Gwon

 

Vice Chairman

Vice-Chairman

 

Age: 44

 

Gi Beom Gwon

 

Vice Chairman of the Board

Vice-Chairman

 

 

Biography:

Gwon Gi Beom has been serving as Vice Chairman of the Board of DONGKOOK Pharm Co., Ltd since December 31, 2009. Previously, Gwon served as Chief Executive Officer and Co-Chief Executive Officer of the Company. Gwon holds a Bachelor's degree in Social Welfare from Yonsei University, Korea, a Master of Business Administration from University of Denver, the United States, and completed an Advanced Management Program from Stanford University, the United States.

 

Age: 45

 

Education:

University of Denver, MBA 
Yonsei University, B 

 

Yeong Wuk Lee

 

President, Co-Chief Executive Officer, Director

Director/Board Member

 

 

Biography:

Lee Yeong Wuk has been serving as President, Co-Chief Executive Officer and Director of DONGKOOK Pharm Co., Ltd. since March 26, 2010. Previously, Lee was Managing Director of Hanmi Pharmaceutical Co., Ltd and Vice President of Berna Biotech Korea. Corp. Lee holds a Bachelor's and a Doctorate's degrees in Pharmacy from Chung-Ang University, Korea.

 

Age: 58

 

Education:

Chung-Ang University, PHD (Pharmacy)
Chung-Ang University, B (Pharmacy)

 

Heung Ju Oh

 

Co-Chief Executive Officer, Vice President, Director

Director/Board Member

 

 

Biography:

Oh Heung Ju has been serving as Co-Chief Executive Officer, Vice President and Director of DONGKOOK Pharm Co., Ltd. since March 26, 2010. Previously, Oh was Managing Director of the Company. Oh used to work for Myungmoon pharmaceutical Co.,Ltd. Oh holds a Bachelor's degree in Pharmacy from Seoul National University, Korea and a Master of Business Administration from Sogang University, Korea.

 

Age: 53

 

Education:

Seoul National University, B (Pharmacy)
Sogang University, MBA 

 

Jin Gyu Park

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Park Jin Gyu has been serving as Non-Executive Independent Director of DONGKOOK Pharm Co., Ltd. since March 19, 2010. Park used to be Vice President and Plant Manager of the Company and also served as President of VEX CORE. Park holds a Bachelor's degree in Pharmacy from Yeungnam University, Korea and a Master's degree in Chemistry from Seoul National University, Korea.

 

Age: 74

 

Education:

Seoul National University, M (Chemistry)
Yeungnam University, B (Pharmacy)

 

 

Executives

 

Name

Title

Function

 

Hae Don Lee

 

Vice President & Co-Chief Executive Officer

Chief Executive Officer

 

Yeong Wuk Lee

 

President, Co-Chief Executive Officer, Director

Chief Executive Officer

 

Biography:

Lee Yeong Wuk has been serving as President, Co-Chief Executive Officer and Director of DONGKOOK Pharm Co., Ltd. since March 26, 2010. Previously, Lee was Managing Director of Hanmi Pharmaceutical Co., Ltd and Vice President of Berna Biotech Korea. Corp. Lee holds a Bachelor's and a Doctorate's degrees in Pharmacy from Chung-Ang University, Korea.

 

Age: 58

 

Education:

Chung-Ang University, PHD (Pharmacy)
Chung-Ang University, B (Pharmacy)

 

Heung Ju Oh

 

Co-Chief Executive Officer, Vice President, Director

Chief Executive Officer

 

 

Biography:

Oh Heung Ju has been serving as Co-Chief Executive Officer, Vice President and Director of DONGKOOK Pharm Co., Ltd. since March 26, 2010. Previously, Oh was Managing Director of the Company. Oh used to work for Myungmoon pharmaceutical Co.,Ltd. Oh holds a Bachelor's degree in Pharmacy from Seoul National University, Korea and a Master of Business Administration from Sogang University, Korea.

 

Age: 53

 

Education:

Seoul National University, B (Pharmacy)
Sogang University, MBA 

 

Gyeong Hoe Cha

 

Assistant Managing Director

Managing Director

 

 

Biography:

Cha Geyong Hoe is Assistant Managing Director of DONGKOOK Pharm Co., Ltd. Previously, Cha worked for a research center of Chongkundang Corp. Cha holds a Bachelor's degree in Pharmacy from Seoul National University, Korea.

 

Age: 51

 

Education:

Seoul National University, B (Pharmacy)

 

Gi Ho Jung

 

Managing Director

Managing Director

 

 

Biography:

Jung Gi Ho is Managing Director of DONGKOOK Pharm Co., Ltd. Previously, Jung was a Member of the Company's Board of Directors. Jung also worked for Bayer in Korea and SYNTEX KOREA CO.,LTD. Jung received a Bachelor's degree in Textile Engineering from Dankook University, Korea in February 1984.

 

Age: 54

 

Education:

Dankook University, B (Textile Engineering)

 

Tae Suk Kim

 

Assistant Managing Director

Managing Director

 

 

Biography:

Kim Tae Suk is Assistant Managing Director of DONGKOOK Pharm Co., Ltd. Previously, Kim worked for Sandoz AG and Bayer in Korea. Kim holds a Bachelor's degree in Pharmacy from University of Basel, Switzerland.

 

Age: 48

 

Education:

University of Basel, B (Pharmacy)

 

Hui Seop Kim

 

Managing Director

Managing Director

 

 

Biography:

Kim Hui Seop is Managing Director of DOMGKOOK Pharm Co., Ltd. Previously, Kim was Assistant Managing Director of the Company. Previously, Kim worked for Roche Korea Co., Ltd. and YUYU Co., Ltd. Kim holds a Bachelor's degree in Civil Engineering from Dankook University, Korea.

 

Age: 53

 

Education:

Dankook University, B (Civil Engineering)

 

Hee Seop Kim

 

Co-Assistant Managing Director

Managing Director

 

 

Mok Sun Park

 

Managing Director

Managing Director

 

 

Biography:

Park Mok Sun is Managing Director of DONGKOOK Pharm Co., Ltd. Previously, Park worked for Hanall Pharmaceutical Co., Ltd. Park received a Bachelor's degree in Pharmacy from ChungNam National University, Korea in February 1984.

 

Age: 57

 

Education:

ChungNam National University, B (Pharmacy)

 

Mok Sun Park

 

Managing Director

Managing Director

 

 

Age: 56

 

Byeong Gi Yoo

 

Assistant Managing Director

Managing Director

 

 

Age: 51

 

Byeong Gi Yoo

 

Assistant Managing Director

Managing Director

 

 

Biography:

Yoo Byeong Gi is Assistant Managing Director of DONGKOOK Pharm Co., Ltd. Previously, Yoo worked for KUKJE PHARMA IND CO.,LTD. Yoo received a Bachelor's degree in Pharmacy from Seoul National University, Korea in February 1983.

 

Age: 52

 

Education:

Seoul National University, B (Pharmacy)

 

Dong Suhk Han

 

Co-Auditor

Finance Executive

 

 

Gyu Jin Jung

 

Internal Auditor

Accounting Executive

 

 

Biography:

Jung Gyu Jin has been serving as Internal Auditor in DONGKOOK Pharm Co., Ltd since March 16, 2012. Jung is also Chief Executive Director in another Korea-based company. Jung is a Certified Public Accountant. Jung holds a Master's degree in Business Administration from Yonsei University, Korea.

 

Age: 45

 

Education:

Yonsei University, M (Business Administration)

 

Sam Yong Park

 

Internal Auditor

Accounting Executive

 

 

Biography:

Park Sam Yong is Internal Auditor of DONGKOOK Pharm Co., Ltd. Previously, Park was Managing Director of the Company and Assistant Managing Director of Tong Yang Nylon Co., Ltd. Park holds a Bachelor's degree in Commerce from Seoul National University, Korea.

 

Age: 75

 

Education:

Seoul National University, B (Commerce)

 

J. H. Kim

 

Chief Trading Officer

Investment Executive

 

 

Y. S. Lee

 

Co-Manager-Trading

Investment Executive

 

 

J. H. Park

 

Co-Manager-Trading

Investment Executive

 

 

J. S. Yoon

 

Co-Manager-Trading

Investment Executive

 

 

Y. I. Yong

 

Manager-Regulatory Affairs

Legal Executive

 

 

 

 

Significant Developments

 

DONGKOOK Pharm Co., Ltd. Declares Annual Cash Dividend for FY 2011 Feb 27, 2012

 

DONGKOOK Pharm Co., Ltd. announced that it has declared an annual cash dividend of KRW 380 per share of common stock to shareholders of record on December 31, 2011, for the fiscal year 2011. The dividend rate of market price is 2.7% and the total amount of the cash dividend is KRW 3,352,946,720.

 

DONGKOOK Pharm Co., Ltd. Announces Changes in Shareholding Structure Feb 01, 2012

 

DONGKOOK Pharm Co., Ltd. announced that Korea Value Asset Management Co.,Ltd. has sold 345,096 shares of the Company, equivalent to a 3.89% stake. After the transaction, Korea Value Asset Management's stake in the Company has decreased to 8.78% from 12.67%.

 

DONGKOOK Pharm Co., Ltd. Announces Changes in Shareholding Structure Jan 04, 2012

 

DONGKOOK Pharm Co., Ltd. announced that FID LOW PRICED STOCK FUND has acquired 445,872 shares of the Company, representing a 5.01% stake.

 

 

Annual Income Statement

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

KPMG LLP

KPMG LLP

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

139.5

114.2

91.7

90.5

-

    Gross Revenue

-

-

-

-

98.7

    Sales Returns and Allowances

-

-

-

-

-2.8

Revenue

139.5

114.2

91.7

90.5

95.9

    Other Revenue

5.2

8.2

4.8

5.0

3.4

Other Revenue, Total

5.2

8.2

4.8

5.0

3.4

Total Revenue

144.7

122.4

96.5

95.5

99.3

 

 

 

 

 

 

    Cost of Revenue

62.3

52.7

40.0

36.8

38.0

Cost of Revenue, Total

62.3

52.7

40.0

36.8

38.0

Gross Profit

77.2

61.5

51.8

53.7

58.0

 

 

 

 

 

 

    Selling/General/Administrative Expense

13.5

10.2

9.2

7.8

7.9

    Labor & Related Expense

15.2

12.6

10.2

10.0

9.7

    Advertising Expense

27.3

24.4

20.2

23.6

25.0

Total Selling/General/Administrative Expenses

55.9

47.1

39.5

41.4

42.6

Research & Development

5.0

3.9

3.1

3.0

3.3

        Investment Income - Operating

0.0

-

-

-

-

    Interest/Investment Income - Operating

0.0

-

-

-

-

Interest Expense (Income) - Net Operating Total

0.0

-

-

-

-

    Impairment-Assets Held for Use

0.6

-

-

-

-

    Loss (Gain) on Sale of Assets - Operating

0.0

0.0

-

-

-

Unusual Expense (Income)

0.6

0.0

-

-

-

    Other Operating Expense

0.5

1.0

-

-

-

    Other, Net

-2.5

-1.4

-

-

-

Other Operating Expenses, Total

-2.1

-0.5

-

-

-

Total Operating Expense

121.7

103.3

82.6

81.1

83.9

 

 

 

 

 

 

Operating Income

23.0

19.1

13.9

14.4

15.4

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.2

-0.2

-0.2

-0.3

-0.3

    Interest Expense, Net Non-Operating

-0.2

-0.2

-0.2

-0.3

-0.3

        Interest Income - Non-Operating

1.0

0.7

1.1

1.3

1.1

        Investment Income - Non-Operating

0.2

0.7

-0.8

-2.3

-0.1

    Interest/Investment Income - Non-Operating

1.2

1.4

0.2

-0.9

1.0

    Interest Income (Expense) - Net Non-Operating

-

-

-

-

-

Interest Income (Expense) - Net Non-Operating Total

1.0

1.2

0.0

-1.2

0.6

Gain (Loss) on Sale of Assets

-

-

-0.7

-0.7

-0.8

    Other Non-Operating Income (Expense)

-

-

0.2

0.6

0.1

Other, Net

-

-

0.2

0.6

0.1

Income Before Tax

24.0

20.3

13.4

13.1

15.4

 

 

 

 

 

 

Total Income Tax

5.8

5.3

3.3

3.8

4.3

Income After Tax

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Net Income Before Extraord Items

18.2

15.0

10.1

9.2

11.1

Net Income

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

8.8

8.8

8.8

8.9

8.0

Basic EPS Excl Extraord Items

2.07

1.69

1.15

1.04

1.39

Basic/Primary EPS Incl Extraord Items

2.07

1.69

1.15

1.04

1.39

Dilution Adjustment

-

-

0.0

0.0

0.0

Diluted Net Income

18.2

15.0

10.1

9.2

11.1

Diluted Weighted Average Shares

8.8

8.8

8.8

8.9

8.0

Diluted EPS Excl Extraord Items

2.07

1.69

1.15

1.04

1.39

Diluted EPS Incl Extraord Items

2.07

1.69

1.15

1.04

1.39

Dividends per Share - Common Stock Primary Issue

0.34

0.33

0.24

0.26

0.34

Gross Dividends - Common Stock

3.0

2.9

2.1

2.3

3.0

Interest Expense, Supplemental

0.2

0.2

0.2

0.3

0.3

Depreciation, Supplemental

4.2

3.6

3.0

3.1

2.7

Total Special Items

0.6

0.0

0.7

0.7

0.8

Normalized Income Before Tax

24.6

20.3

14.1

13.8

16.2

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.1

0.0

0.2

0.2

0.2

Inc Tax Ex Impact of Sp Items

5.9

5.3

3.5

4.1

4.6

Normalized Income After Tax

18.7

15.0

10.7

9.8

11.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

18.7

15.0

10.7

9.8

11.7

 

 

 

 

 

 

Basic Normalized EPS

2.12

1.70

1.21

1.10

1.46

Diluted Normalized EPS

2.12

1.70

1.21

1.10

1.46

Amort of Intangibles, Supplemental

0.1

0.1

0.0

0.0

0.0

Rental Expenses

0.0

0.0

0.0

0.0

0.0

Advertising Expense, Supplemental

27.3

24.4

20.2

23.6

25.0

Research & Development Exp, Supplemental

5.6

4.8

3.1

3.0

3.8

Normalized EBIT

23.6

19.1

13.9

14.4

15.4

Normalized EBITDA

27.9

22.8

16.9

17.5

18.2

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

KPMG LLP

KPMG LLP

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

7.8

7.0

3.3

2.9

7.1

    Short Term Investments

20.5

17.4

19.5

17.7

23.2

Cash and Short Term Investments

28.3

24.4

22.9

20.6

30.4

        Accounts Receivable - Trade, Gross

63.6

52.9

38.4

30.3

31.8

        Provision for Doubtful Accounts

-3.0

-1.9

-2.4

-1.5

-2.6

    Trade Accounts Receivable - Net

61.0

51.1

36.0

29.1

29.7

    Other Receivables

0.9

1.5

1.1

1.5

2.0

Total Receivables, Net

62.0

52.6

37.2

30.6

31.6

    Inventories - Finished Goods

6.3

6.5

5.8

5.2

3.9

    Inventories - Work In Progress

4.0

4.4

4.0

3.5

4.4

    Inventories - Raw Materials

6.1

6.6

5.6

5.5

5.1

    Inventories - Other

2.0

1.4

1.1

1.1

1.3

Total Inventory

18.4

18.9

16.4

15.3

14.8

Prepaid Expenses

0.1

0.1

0.1

0.2

0.2

    Deferred Income Tax - Current Asset

-

-

0.8

1.1

0.9

    Other Current Assets

-

0.2

0.7

-

-

Other Current Assets, Total

-

0.2

1.5

1.1

0.9

Total Current Assets

108.8

96.2

78.0

67.8

77.8

 

 

 

 

 

 

        Buildings

20.4

18.7

10.3

9.5

12.6

        Land/Improvements

8.0

7.5

8.0

6.7

9.0

        Machinery/Equipment

34.3

32.7

29.8

24.0

26.9

        Construction in Progress

6.9

2.0

4.4

0.2

0.1

        Other Property/Plant/Equipment

-0.7

-0.7

-

-

-

    Property/Plant/Equipment - Gross

68.8

60.3

52.6

40.4

48.6

    Accumulated Depreciation

-30.4

-26.9

-28.2

-23.1

-27.6

Property/Plant/Equipment - Net

38.4

33.3

24.3

17.2

21.0

Intangibles, Net

3.0

3.8

3.5

2.6

2.5

    LT Investments - Other

4.1

2.8

4.4

3.5

8.2

Long Term Investments

4.1

2.8

4.4

3.5

8.2

    Pension Benefits - Overfunded

-

-

0.0

0.2

0.0

    Deferred Income Tax - Long Term Asset

1.1

0.2

0.1

-

-

    Other Long Term Assets

1.8

1.6

1.4

1.0

1.1

Other Long Term Assets, Total

3.0

1.8

1.6

1.2

1.1

Total Assets

157.2

137.9

111.9

92.3

110.5

 

 

 

 

 

 

Accounts Payable

9.2

8.1

5.1

3.4

2.6

Accrued Expenses

2.2

2.0

0.6

0.4

0.5

Notes Payable/Short Term Debt

4.6

2.8

3.8

2.3

2.0

Current Portion - Long Term Debt/Capital Leases

0.4

0.4

0.4

0.4

0.6

    Customer Advances

0.2

0.3

0.2

0.2

0.0

    Security Deposits

-

-

1.6

1.5

2.0

    Income Taxes Payable

3.5

3.7

2.0

2.5

3.7

    Other Payables

12.4

8.9

7.1

5.9

4.0

    Other Current Liabilities

1.4

0.6

0.4

2.6

0.5

Other Current liabilities, Total

17.5

13.5

11.2

12.7

10.3

Total Current Liabilities

34.0

26.8

21.1

19.2

16.0

 

 

 

 

 

 

    Long Term Debt

-

0.4

0.9

1.2

2.1

Total Long Term Debt

0.0

0.4

0.9

1.2

2.1

Total Debt

5.1

3.7

5.1

3.9

4.7

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

-

-

-

0.0

0.9

Deferred Income Tax

-

-

-

0.0

0.9

    Reserves

2.7

2.2

1.6

1.2

1.4

    Pension Benefits - Underfunded

4.7

3.5

2.4

2.2

2.8

    Other Long Term Liabilities

2.2

2.4

0.4

0.2

0.2

Other Liabilities, Total

9.5

8.0

4.4

3.6

4.4

Total Liabilities

43.5

35.3

26.3

24.0

23.5

 

 

 

 

 

 

    Common Stock

19.3

19.6

19.1

13.6

18.3

Common Stock

19.3

19.6

19.1

13.6

18.3

Additional Paid-In Capital

13.7

13.9

14.7

17.3

23.3

Retained Earnings (Accumulated Deficit)

81.2

68.8

52.0

39.9

45.8

Treasury Stock - Common

-0.8

-0.8

-0.2

-1.1

-

Unrealized Gain (Loss)

0.6

0.7

-0.6

-1.4

-0.3

    Other Equity

0.3

0.3

-

-

-

    Other Comprehensive Income

-0.6

0.1

0.6

-

-

Other Equity, Total

-0.3

0.4

0.6

-

-

Total Equity

113.8

102.6

85.6

68.3

87.1

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

157.2

137.9

111.9

92.3

110.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

8.8

8.8

8.9

8.7

8.9

Total Common Shares Outstanding

8.8

8.8

8.9

8.7

8.9

Treasury Shares - Common Stock Primary Issue

0.1

0.1

0.0

0.1

0.0

Employees

485

431

422

414

365

Number of Common Shareholders

-

1,967

2,167

2,038

2,889

Accumulated Intangible Amort, Suppl.

0.3

0.2

-

-

-

Deferred Revenue - Current

0.2

0.3

0.2

0.2

0.0

Total Long Term Debt, Supplemental

0.4

-

0.9

1.6

2.7

Long Term Debt Maturing within 1 Year

0.4

-

0.4

0.4

0.6

Long Term Debt Maturing in Year 2

-

-

0.4

0.4

0.5

Long Term Debt Maturing in Year 3

-

-

-

0.4

0.5

Long Term Debt Maturing in Year 4

-

-

-

0.4

0.5

Long Term Debt Maturing in Year 5

-

-

-

-

0.5

Long Term Debt Maturing in 2-3 Years

-

-

0.4

0.8

1.1

Long Term Debt Maturing in 4-5 Years

-

-

-

0.4

1.1

Long Term Debt Matur. in Year 6 & Beyond

0.0

-

0.0

0.0

0.0

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

KPMG LLP

KPMG LLP

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

18.2

15.0

10.1

9.2

11.1

    Depreciation

4.2

3.6

3.0

3.1

2.7

Depreciation/Depletion

4.2

3.6

3.0

3.1

2.7

    Amortization of Intangibles

0.1

0.1

0.0

0.0

0.0

Amortization

0.1

0.1

0.0

0.0

0.0

Deferred Taxes

-

0.0

-0.1

-1.1

-0.9

    Unusual Items

1.6

0.6

0.9

2.3

1.3

    Other Non-Cash Items

6.9

6.5

3.4

3.0

2.3

Non-Cash Items

8.5

7.2

4.3

5.3

3.6

    Accounts Receivable

-11.8

-12.8

-5.3

-7.7

-6.1

    Inventories

-0.6

-2.3

-1.1

-5.5

-2.5

    Prepaid Expenses

0.0

0.0

0.1

-0.1

0.0

    Other Assets

-

0.9

-

-

0.0

    Accounts Payable

4.6

2.6

1.8

5.1

-0.7

    Accrued Expenses

-0.1

0.2

0.0

0.3

-0.1

    Taxes Payable

0.4

0.5

-0.6

-0.7

1.8

    Other Liabilities

-1.9

-1.7

-4.0

-2.8

-1.2

    Other Assets & Liabilities, Net

-

0.0

-

-

-

    Other Operating Cash Flow

-6.2

-4.1

-

-

-

Changes in Working Capital

-15.6

-16.6

-9.0

-11.3

-8.7

Cash from Operating Activities

15.4

9.2

8.2

5.2

7.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-10.0

-7.8

-8.3

-5.0

-2.4

    Purchase/Acquisition of Intangibles

-0.2

-0.2

-0.7

0.0

-0.9

Capital Expenditures

-10.2

-8.0

-9.0

-5.0

-3.3

    Sale of Fixed Assets

0.0

0.0

0.0

0.0

0.0

    Sale/Maturity of Investment

29.3

54.9

39.5

22.3

18.5

    Purchase of Investments

-34.6

-49.3

-39.5

-21.5

-41.9

    Sale of Intangible Assets

0.3

-

-

-

-

    Other Investing Cash Flow

1.1

0.7

0.0

-0.3

-2.3

Other Investing Cash Flow Items, Total

-3.9

6.3

0.0

0.5

-25.7

Cash from Investing Activities

-14.1

-1.7

-8.9

-4.5

-29.0

 

 

 

 

 

 

    Other Financing Cash Flow

1.1

0.9

0.7

0.5

-0.9

Financing Cash Flow Items

1.1

0.9

0.7

0.5

-0.9

    Cash Dividends Paid - Common

-3.0

-2.3

-2.0

-2.5

-1.6

Total Cash Dividends Paid

-3.0

-2.3

-2.0

-2.5

-1.6

        Sale/Issuance of Common

-

-

2.0

-

27.6

        Repurchase/Retirement of Common

-

-0.6

-0.6

-1.3

-

    Common Stock, Net

-

-0.6

1.3

-1.3

27.6

Issuance (Retirement) of Stock, Net

-

-0.6

1.3

-1.3

27.6

        Short Term Debt Issued

3.8

2.4

4.2

0.9

2.2

        Short Term Debt Reduction

-1.8

-4.1

-2.8

-0.4

-4.4

    Short Term Debt, Net

2.0

-1.7

1.3

0.5

-2.2

        Long Term Debt Reduction

-0.5

-0.4

-0.4

-0.5

-0.4

    Long Term Debt, Net

-0.5

-0.4

-0.4

-0.5

-0.4

Issuance (Retirement) of Debt, Net

1.5

-2.1

0.9

0.0

-2.6

Cash from Financing Activities

-0.4

-4.2

1.0

-3.4

22.4

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

-

-

-

Net Change in Cash

0.9

3.4

0.3

-2.7

1.3

 

 

 

 

 

 

Net Cash - Beginning Balance

7.2

3.5

2.9

6.1

5.9

Net Cash - Ending Balance

8.1

6.9

3.2

3.4

7.2

Cash Interest Paid

0.2

0.2

-

-

-

Cash Taxes Paid

6.2

4.1

-

-

-

 

 

 

Annual Income Statement

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

KPMG LLP

KPMG LLP

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Finished Goods Revenues, Gross

-

-

-

-

87.8

    Merchandises, Gross

-

-

-

-

10.9

    Sales Allowance

-

-

-

-

-2.8

    Finished Goods Revenues

120.7

99.7

77.7

81.8

-

    Merchandise Revenue

18.8

14.5

14.0

8.7

-

    Other Revenue

5.2

8.2

4.8

5.0

3.4

Total Revenue

144.7

122.4

96.5

95.5

99.3

 

 

 

 

 

 

    Cost-Finished Goods Sold

44.1

34.2

25.0

25.5

25.3

    Cost-Merchandise Sold

15.1

12.2

11.2

7.3

9.1

    Cost-Other Sales

3.2

6.3

3.7

4.0

3.5

    Salaries & Wages

13.5

10.9

5.6

5.6

5.4

    Other Payrolls

-

-

0.2

0.2

0.2

    Bonuses

-

-

2.4

2.2

2.2

    Retirement Allowance

1.2

1.1

1.1

1.1

1.2

    Employee Benefits

0.4

0.5

0.9

0.8

0.7

    Travel Expense

3.8

2.7

2.2

1.9

1.7

    Communication Expense

0.3

0.1

0.1

0.1

0.1

    Utility Expense

0.1

0.1

0.0

0.0

0.0

    Taxes & Dues

0.2

0.1

0.4

0.4

0.4

    Consumable Expense

0.4

0.2

0.2

0.1

0.1

    Publishing & Printing Expense

0.7

0.6

0.8

0.7

0.7

    Rent

0.0

0.0

0.0

0.0

0.0

    Building Maintenance Expense

0.3

0.2

0.2

0.2

0.2

    Vehicles Maintenance Expense

0.1

0.1

0.1

0.1

0.1

    Repair Expense

0.0

0.0

0.0

0.0

0.0

    Insurance Expense

0.1

0.0

0.2

0.2

0.1

    Commission Paid

2.6

1.9

1.6

1.6

1.3

    Shipping & Handling Expense

0.3

0.1

0.1

0.1

0.1

    Packaging Expense

0.0

0.0

0.0

0.0

0.0

    Entertainment Expense

0.2

0.2

0.2

0.2

0.3

    Sales Promotional Expenses

3.7

3.5

2.4

2.7

1.8

    Advertising Expense

23.6

20.9

17.8

20.9

23.2

    Education & Training Expense

0.2

0.3

0.1

0.1

0.1

    Exporting Expense

1.4

1.2

0.9

0.9

0.8

    Expense-Samples

0.4

0.3

0.6

0.4

0.7

    Conference Expense

0.0

0.0

0.0

0.0

0.0

    Expenses of Allowance for Doubtful Accou

1.5

1.2

1.0

-

0.4

    R & D Expenses

5.0

3.9

3.1

3.0

3.3

    Depreciation Expense

0.9

0.7

0.6

0.6

0.6

    Amortization-Intangibles

0.1

0.1

0.0

0.0

0.0

    Miscellaneous Operating Expense

0.0

0.0

0.0

0.0

0.0

    Adjustment for Selling and Administrativ

0.0

0.0

-

-

-

    Commission Income

-1.1

-

-

-

-

    Rental Income

-0.1

-0.1

-

-

-

    Gain on Disposal of Property, Plant and

0.0

0.0

-

-

-

    Government Subsidy

-0.9

-0.6

-

-

-

    Miscellaneous Income

-0.5

-0.7

-

-

-

    Adjustment for Other Operating Income

0.0

-

-

-

-

    Loss on Disposal of Property, Plant and

0.0

0.0

-

-

-

    Loss on Disposal of Intangible Assets

0.0

-

-

-

-

    Impairment Loss on Intangible Assets

0.6

-

-

-

-

    Depreciation for Investment Property

0.0

-

-

-

-

    Donations Paid

0.5

0.5

-

-

-

    Other Allowance for Doubtful Accounts

-

0.2

-

-

-

    Miscellaneous Loss

0.0

0.3

-

-

-

    Adjustment for Other Operating Expense

0.0

-

-

-

-

Total Operating Expense

121.7

103.3

82.6

81.1

83.9

 

 

 

 

 

 

    Interest Income

1.0

0.7

1.1

1.3

1.1

    Dividend Income

0.0

0.0

0.0

0.0

0.0

    Gain on Disposal of Financial Instrument

0.6

0.1

0.3

0.2

0.2

    Gain on Derivatives Transaction

0.7

0.9

-

-

0.0

    Gain on Foreign Currency Transactions

0.5

0.5

0.5

1.8

0.2

    Gain on Foreign Currency Translations

0.1

0.1

0.1

0.1

0.1

    Gain on Valuation of Derivatives

0.0

0.0

-

-

-

    Gain-Disposal of Tangible Assets

-

-

0.0

0.0

0.0

    G-Reduction Loss of Sec. Avail-for-Sale

-

-

0.1

0.0

-

    Gain on Valuation of Financial Assets at

0.0

-

-

-

-

    Gain on Disposal of Financial Assets at

0.0

0.1

-

-

-

    Recovery-Loan Loss Reserve

-

-

-

0.4

-

    Government Subsidy

-

-

0.3

0.1

0.2

    Miscellaneous Non-Operating Income

-

-

0.3

0.3

0.3

    Interest Expense, Non-Operating

-0.2

-0.2

-0.2

-0.3

-0.3

    Loss on Disposal of Financial Instrument

-0.1

-0.4

-

0.0

-0.1

    Loss on Derivative Transaction

-0.1

-

-0.9

-1.2

0.0

    Loss on Foreign Currency Transactions

-0.6

-0.4

-0.7

-0.5

-0.2

    Loss on Foreign Currency Translations

-0.1

-0.1

-0.2

-0.7

0.0

    Loss-Reduct. of Sec. Available-Sale

-

-

-

-

-0.2

    Disposal Loss on Securities Held-to-Matu

0.0

0.0

-

-

-

    Loss on Disposal of Financial Assets at

-0.6

-

-

-

-

    Loss on Valuation of Financial Assets at

-0.2

-

-

-

-

    Loss on Valuation of Derivatives

0.0

0.0

-

-2.0

-0.2

    Loss-Scrapping of inventory

-

-

-0.7

-0.8

-0.8

    Losses on Sale of Property, Plant and Eq

-

-

0.0

-

-

    Donations Paid, Non-Operating

-

-

-0.3

-0.3

-0.4

    Miscellaneous Non-Operating Expense

-

-

0.0

0.0

0.0

    Loss- Valu. of Sec. Available-Sale

-

-

0.0

-

-

    Other Allowance for Doubtful Accounts

-

-

-0.1

-

-

    Adjustment for Finance Income

0.0

-

-

-

-

    Adjustment for Finance Expense

0.0

-

-

-

-

Net Income Before Taxes

24.0

20.3

13.4

13.1

15.4

 

 

 

 

 

 

Provision for Income Taxes

5.8

5.3

3.3

3.8

4.3

Net Income After Taxes

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Net Income Before Extra. Items

18.2

15.0

10.1

9.2

11.1

Net Income

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Basic Weighted Average Shares

8.8

8.8

8.8

8.9

8.0

Basic EPS Excluding ExtraOrdinary Items

2.07

1.69

1.15

1.04

1.39

Basic EPS Including ExtraOrdinary Items

2.07

1.69

1.15

1.04

1.39

Dilution Adjustment

-

-

0.0

0.0

0.0

Diluted Net Income

18.2

15.0

10.1

9.2

11.1

Diluted Weighted Average Shares

8.8

8.8

8.8

8.9

8.0

Diluted EPS Excluding ExtraOrd Items

2.07

1.69

1.15

1.04

1.39

Diluted EPS Including ExtraOrd Items

2.07

1.69

1.15

1.04

1.39

DPS-Common Stock

0.34

0.33

0.24

0.26

0.34

Gross Dividends - Common Stock

3.0

2.9

2.1

2.3

3.0

Normalized Income Before Taxes

24.6

20.3

14.1

13.8

16.2

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

5.9

5.3

3.5

4.1

4.6

Normalized Income After Taxes

18.7

15.0

10.7

9.8

11.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

18.7

15.0

10.7

9.8

11.7

 

 

 

 

 

 

Basic Normalized EPS

2.12

1.70

1.21

1.10

1.46

Diluted Normalized EPS

2.12

1.70

1.21

1.10

1.46

Interest Expense, Supplemental

0.2

0.2

0.2

0.3

0.3

Rental Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

Advertising Expense, Supplemental

27.3

24.4

20.2

23.6

25.0

R&D Expense, Supplemental

5.6

4.8

3.1

3.0

3.8

Depreciation, Supplemental

4.2

3.6

3.0

3.1

2.7

Amort of Intangibles, Supplemental

0.1

0.1

0.0

0.0

0.0

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

KPMG LLP

KPMG LLP

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and CashEquivalents

7.8

7.0

3.5

2.9

7.1

    Current Financial Deposits

18.9

17.4

-

-

-

    ST Financial Assets

-

-

17.8

14.5

18.3

    Financial Assets at Fair Value Through P

0.7

-

-

-

-

    ST Securities Available for Sale

-

-

1.7

3.3

4.9

    ST Loan, Net

1.0

1.1

1.2

1.5

1.9

    Allowance for Doubtful Accounts for Shor

-0.3

-0.3

-0.1

-

-

    Trade Receivable

63.6

52.9

38.4

30.3

31.8

    Allowance for Doubtful Accounts for Trad

-3.0

-1.9

-2.4

-1.5

-2.6

    Other Receivable, Net

0.2

0.7

0.0

0.1

0.1

    Allowance for Doubtful Accounts for Othe

0.0

0.0

-

-

-

    Prepaid Expense

0.1

0.1

0.1

0.2

0.2

    Advanced Payment

0.2

0.2

0.2

0.1

0.2

    Deferred Income Taxes-Debit, Current

-

-

0.8

1.1

0.9

    Accrued Income

0.4

0.1

0.1

0.3

0.4

    Merchandises

1.1

1.7

1.6

2.4

1.2

    Finished Goods

6.5

5.9

5.1

2.8

2.6

    Goods in Transit

0.2

0.1

0.2

0.2

0.1

    Raw Materials

6.3

6.8

5.6

5.5

5.1

    Works in Process

4.8

4.6

4.2

3.5

4.4

    Supplies

1.7

1.2

0.8

0.8

1.1

    Government Subsidy for Cash and Cash Equ

-

-

-0.2

-

-

    Current Securities Held-to-Maturities

0.9

-

0.0

-

-

    Derivative Assets Current

-

0.2

0.7

-

-

    Allowance for Loss on Valuation of Merch

-0.5

-0.6

-0.6

-

-

    Allowance for Loss on Valuation of Finis

-0.8

-0.5

-0.3

-

-

    Allowance for Loss on Valuation of Raw M

-0.2

-0.2

0.0

-

-

    Allowance for Loss on Valuation of Works

-0.7

-0.2

-0.2

-

-

    Allowance for Loss on Valuation of Suppl

0.0

0.0

0.0

-

-

    Allowance for Loss on Valuation of Goods

0.0

0.0

0.0

-

-

    Adjustment for Trade Receivables

-

0.0

-

-

-

    Adjustment for Other Receivables

0.0

-

-

-

-

    Adjustment for Inventories

0.0

0.0

-

-

-

    Adjustment for Other Current Assets

-

0.0

-

-

-

Total Current Assets

108.8

96.2

78.0

67.8

77.8

 

 

 

 

 

 

    LT Financial Assets

-

-

0.0

0.2

0.2

    Non-Current Financial Deposits

0.3

0.1

-

-

-

    Non-Current Securities Available-for-Sal

0.9

1.3

4.2

3.2

6.8

    Securities Held to Maturities

0.4

0.4

0.1

0.0

0.0

    Financial Instruments at Fair Value Thro

1.5

-

-

-

-

    Other Investment Assets

-

-

0.1

0.1

1.2

    Investment in Properties

0.9

1.0

-

-

-

    LT Security Deposit

1.8

1.6

1.4

1.0

1.1

    Deposit-Retirement Insurance

-

-

0.0

0.2

0.0

    Land

8.0

7.5

8.0

6.7

9.0

    Buildings

14.1

13.3

8.5

7.8

10.5

    Buildings-Depreciation

-3.7

-3.2

-2.9

-2.4

-2.8

    Attachment to Buildings

5.5

4.6

1.1

1.0

1.3

    Attachments-Depreciation

-0.6

-0.4

-0.4

-0.3

-0.3

    Structures

0.8

0.8

0.8

0.7

0.8

    Structures-Depreciation

-0.4

-0.4

-0.3

-0.3

-0.3

    Tools & Equipments

6.7

5.6

4.8

3.7

3.4

    Tools & Equipments-Depreciation

-4.8

-4.0

-3.6

-2.7

-3.0

    Machinery & Equipment

22.2

22.0

20.8

16.8

19.4

    Machinery & Equipment-Depreciation

-17.1

-15.4

-17.4

-14.6

-17.8

    Vehicles & Transportation Equipment

0.4

0.5

0.5

0.5

0.7

    Vehicles & Transportation-Depreciation

-0.3

-0.4

-0.4

-0.4

-0.6

    Construction in Progress

6.9

2.0

4.4

0.2

0.1

    Laboratory Equipment

4.9

4.7

3.8

3.1

3.7

    Accumulated Depreciation for Laboratory

-4.0

-3.5

-3.2

-2.6

-2.9

    Experimental Equip.-Government Subsidy

-

-

-0.1

-0.1

-0.2

    Government Subsidy, Total

-0.7

-0.7

-

-

-

    Government Subsidy-Depreciation

0.5

0.4

-

-

-

    Industrial Property Right

0.0

0.0

0.0

0.1

0.1

    Usage Right-Facility

2.5

3.2

3.1

2.6

2.4

    Other Intangible Assets

0.5

0.5

0.3

-

-

    Deferred Income Taxes Assets Non-current

1.1

0.2

0.1

-

-

    Adjustment for Other Non-Current Financi

0.0

0.0

-

-

-

    Adjustment for Property, Plant & Equipme

0.0

0.0

-

-

-

    Adjustment for Intangible Assets

0.0

0.0

-

-

-

Total Assets

157.2

137.9

111.9

92.3

110.5

 

 

 

 

 

 

    Trade Payable

9.2

8.1

5.1

3.4

2.6

    Other Payables

12.4

8.9

7.1

5.9

4.0

    Income Taxes Payable

3.5

3.7

2.0

2.5

3.7

    VAT Withheld

1.1

0.7

0.2

0.1

0.5

    Accrued Expense

1.1

1.2

0.3

0.3

0.0

    Advance from Customers

0.1

0.1

0.0

0.1

0.0

    Unearned Income

0.1

0.2

0.1

0.1

0.0

    Security Deposit-Lease

-

-

0.1

0.4

0.5

    Security Deposit Withheld

-

-

1.5

1.1

1.5

    Deposit Withheld

0.7

0.6

0.4

0.3

0.4

    ST Borrowings

4.6

2.8

3.8

2.3

2.0

    Current Portion of LT Debt

0.4

0.4

0.4

0.4

0.6

    Derivatives in Liabilities, Current

0.8

0.0

-

2.3

0.2

    Adjustment for Other Current Payables

0.0

0.0

-

-

-

    Adjustment for Current Portion of Long-t

0.0

0.0

-

-

-

    Adjustment for Other Current Liabilities

0.0

0.0

-

-

-

Total Current Liabilities

34.0

26.8

21.1

19.2

16.0

 

 

 

 

 

 

    LT Borrowings

-

0.4

0.9

1.2

2.1

Total Long Term Debt

-

0.4

0.9

1.2

2.1

 

 

 

 

 

 

    Non-Current Other Payables

0.6

0.7

0.4

0.2

0.2

    Deferred Income Tax, Credit

-

-

-

0.0

0.9

    Reserve-Sales Return

-

-

1.6

1.2

1.4

    Non-Current Provisions

2.7

2.2

-

-

-

    Provisions for Retirement and Severance

4.7

3.5

8.0

2.2

2.8

    Deposits for Retirement and Severance Be

-

-

-5.6

-

-

    Transfer to National Pension Fund

-

-

0.0

-

-

    Rental Guarantee Deposits, Non-Current L

0.1

0.1

-

-

-

    Guarantee Deposits Withholdings, Non-Cur

1.4

1.6

-

-

-

    Adjustment for Other Non-Current Payable

0.0

0.0

-

-

-

Total Liabilities

43.5

35.3

26.3

24.0

23.5

 

 

 

 

 

 

    Common Stock

19.3

19.6

19.1

13.6

18.3

    Paid-in Capital in Excess of Par

13.7

13.9

13.6

16.6

22.4

    Other Capital Surplus

-

-

1.1

0.7

0.9

    Reserve-Corporation Development

-

-

2.3

2.1

2.9

    Reserve-Research & Development

-

-

2.8

3.5

5.4

    Reserve-Startup Investment

-

-

-

0.1

0.4

    Legal Reserve

-

-

2.4

2.0

2.4

    Reserve-Business Rationalization

-

-

4.8

4.4

5.9

    Reserve-Financial Restructuring

-

-

0.0

0.0

0.0

    Retained Earning Carried Forward

-

-

39.7

27.8

28.7

    Gain-Valu. of Sec. Available for Sale

-

-

0.0

0.1

0.1

    Loss-Valu. of Sec. Available for Sale

-0.2

-0.1

-0.6

-1.0

-0.4

    Treasury Stock

-0.8

-0.8

-0.2

-1.1

-

    Revaluation Surplus

0.8

0.8

-

-

-

    Loss-Valuation of Derivatives

-

-

-

-0.4

-

    Gains on Valuation of Derivatives Cash F

-

-

0.6

-

-

    Gain/Losses on Valuation of Derivatives

-0.6

0.1

-

-

-

    Gain/Loss on Disposal of Treasury Stock

0.3

0.3

-

-

-

    Retained Earnings or Accumulated Deficit

81.2

68.8

-

-

-

    Adjustment for Capital Stock

0.0

0.0

-

-

-

    Adjustment for Other Capital Items

0.0

0.0

-

-

-

Total Equity

113.8

102.6

85.6

68.3

87.1

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

157.2

137.9

111.9

92.3

110.5

 

 

 

 

 

 

    S/O-Common Stock

8.8

8.8

8.9

8.7

8.9

Total Common Shares Outstanding

8.8

8.8

8.9

8.7

8.9

T/S-Common Stock

0.1

0.1

0.0

0.1

0.0

Deferred Revenue, Current

0.2

0.3

0.2

0.2

0.0

Accumulated Intangible Amort, Suppl.

0.3

0.2

-

-

-

Full-Time Employees

485

431

422

414

365

Number of Common Shareholders

-

1,967

2,167

2,038

2,889

Long Term Debt Maturing within 1 Year

0.4

-

0.4

0.4

0.6

Long Term Debt Maturing in Year 2

-

-

0.4

0.4

0.5

Long Term Debt Maturing in Year 3

-

-

-

0.4

0.5

Long Term Debt Maturing in Year 4

-

-

-

0.4

0.5

Long Term Debt Maturing in Year 5

-

-

-

-

0.5

Total Long Term Debt, Supplemental

0.4

-

0.9

1.6

2.7

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

KPMG LLP

KPMG LLP

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

18.2

15.0

10.1

9.2

11.1

    Depreciation

4.2

3.6

3.0

3.1

2.7

    Amortization-Intangible Assets

0.1

0.1

0.0

0.0

0.0

    Expenses of Allowance for Doubtful Accou

1.5

1.2

1.0

-

0.4

    Expenses of Allowance for Other Doubtful

-

0.2

0.1

-

-

    Retirement and Severance Benefits

1.9

1.8

1.7

1.8

2.1

    Depreciation of Investment Properties

0.0

0.0

-

-

-

    Corporate Taxes Expense

5.8

5.3

-

-

-

    Interest Expenses

0.2

0.2

-

-

-

    Interest Income

-1.0

-0.7

-

-

-

    Dividend Income

0.0

0.0

-

-

-

    Loss on Disposal of Financial Assets at

0.6

-

-

-

-

    Loss on Valuation of Financial Assets at

0.2

-

-

-

-

    Loss-Foreign Currency Translation

0.1

0.1

0.1

0.6

0.0

    Loss-Disposal of Trade Receivable

-

-

-

-

0.0

    Loss-Valuation of Inventory

0.9

0.4

0.5

0.1

0.5

    Loss-Scraping of Inventory

-

-

0.7

0.8

0.8

    Loss on Disposal of Financial Assets Hel

0.0

0.0

-

-

-

    Loss on Derivatives Transaction

0.1

-

0.9

1.2

0.0

    Loss on Valuation of Derivative Financia

0.0

0.0

-

2.0

0.2

    Loss-Reduct. of Sec. Available-for-Sale

-

-

-

-

0.2

    Loss on Disposal of Financial Assets Ava

0.1

0.4

-

-

-

    Loss-Valu. of Sec. Available-for-Sale

-

-

0.0

0.0

0.1

    Recovery-Provision Doubtful Account

-

-

-

-0.4

-

    Gain on Valuation of Financial Assets at

0.0

-

-

-

-

    Gain on Disposal of Financial Assets at

0.0

-0.1

-

-

-

    Gain-Valuation of Inventory

-0.1

0.0

0.0

-0.3

-0.3

    Loss on Disposal of Intangible Assets

0.0

-

-

-

-

    Impairment Loss on Intangible Assets

0.6

-

-

-

-

    Gains on Valuations of Derivatives Asset

0.0

0.0

-

-

0.0

    Gain-Derivatives Transaction

-0.7

-0.9

-

-

0.0

    Gain on Disposal of Financial Assets Ava

-0.6

-0.1

-0.3

-0.2

-0.2

    Recovery-Sec. Avail-for-Sale Reduction

-

-

-0.1

0.0

-

    Gain-Disposal of Tangible Assets

0.0

0.0

0.0

0.0

0.0

    Government Subsidy

-0.9

-0.6

-0.3

-0.1

-0.2

    Gain-Foreign Currency Translation

-0.1

-0.1

-0.1

-0.1

0.0

    Trade Receivable

-12.2

-12.2

-5.5

-7.7

-5.9

    Account Receivable

0.5

-0.6

0.1

0.0

0.1

    Prepaid Expense

0.0

0.0

0.1

-0.1

0.0

    Advanced Payment

0.0

0.0

0.0

0.0

-0.1

    Accrued Income

-

-

0.2

0.1

-0.3

    Inventory

-0.6

-2.3

-1.1

-5.5

-2.3

    Deferred Income Tax Debit, Current

-

-

0.1

-0.5

-0.2

    Deferred Income Tax Debit, Non-Current

-

-

-0.1

-

-

    Deferred Income Tax Credit, Non-Current

-

-

-0.1

-0.6

-0.6

    Deferred Income Taxes Liabilities

-

0.0

-

-

-

    Trade Payable

1.2

1.1

1.2

1.7

-0.2

    Account Payable

3.8

1.6

0.6

3.4

-0.7

    Non-Current Other Payables

-0.4

0.0

-

-

-

    Lease Guarantee Deposit

-

-

-0.3

0.0

0.0

    Advance Received

0.0

0.1

-0.1

0.1

0.0

    Unearned Income

-0.1

-0.1

-

-

-

    Deposit Withheld

0.1

0.0

0.0

0.1

0.0

    Security Deposit Withheld

-0.1

0.1

0.2

0.0

0.1

    Accrued Expense

-0.1

0.2

0.0

0.3

-0.1

    Accrued Income Taxes

-

-

-0.7

-0.4

2.1

    VAT Withheld

0.4

0.5

0.1

-0.3

-0.3

    LT Account Payable

-

-

-

-

0.1

    Derivatives in Liabilities

-

-

-2.6

-1.2

-

    Derivative Assets

-

0.9

-

-

0.0

    Reserve-Sales Guarantee

0.6

-0.1

0.2

0.2

0.7

    Payment-Retirement Bonus

-0.3

-0.4

-1.3

-1.4

-1.1

    Deposit-Retirement Insurance

-

-

-0.2

-0.5

-0.9

    Plan Assets

-2.0

-1.2

-

-

-

    Reserve-National Pension

-

-

0.0

0.0

0.0

    Losses on Sale of Property, Plant and Eq

0.0

0.0

0.0

-

-

    Adjustment for Operating Activities

0.0

0.0

-

-

-

    Adj. for Operating Assets & Liabilities

-

0.0

-

-

-

    Cash-Tax Paid

-6.2

-4.1

-

-

-

Cash from Operating Activities

15.4

9.2

8.2

5.2

7.8

 

 

 

 

 

 

    Decrease-ST Loans

0.0

0.2

0.3

0.4

0.2

    Decrease-Guarantee Deposit

-

0.2

0.3

0.2

0.0

    Disposal of Derivative Assets

0.7

-

-

-

-

    Decrease-ST Financial Assets

24.4

49.7

29.8

16.9

12.9

    Decrease-LT Financial Assets

-

-

-

-

0.1

    Disposal of ST Financial Assets at Fair

2.1

-

-

-

-

    Disposal of LT Financial Assets at Fair

0.9

2.2

-

-

-

    Disposal-Securities Available-for-Sale

1.8

2.9

9.7

5.3

5.5

    Disposal of Financial Assets Held to Mat

-

0.1

-

-

0.0

    Decrease-Other Investment Assets

-

0.1

0.0

0.0

0.1

    Disposal of Property, Plant and Equipmen

0.0

0.0

-

-

-

    Disposal-Buildings

-

-

-

-

0.0

    Proceeds from Sale of Machinery

-

-

0.0

-

0.0

    Disposal-Transportation

-

-

0.0

0.0

0.0

    Proceeds from Sale of Office Equipment

-

-

0.0

-

-

    Disposal-Experimental Equipment

-

-

-

0.0

-

    Disposal of Intangible Assets

0.3

-

-

-

-

    Increase-ST Loans

-

-

-

-0.5

-2.1

    Increase-Guarantee Deposit

-0.3

-0.4

-0.6

-0.5

-0.4

    Disposal of Derivatives in Liabilities

-0.1

-

-

-

-

    Increase-ST Financial Assets

-26.3

-48.8

-31.6

-17.8

-25.7

    Increase-LT Financial Assets

-0.2

-0.1

-0.1

-0.1

-0.1

    Purchase of ST Financial Assets at Fair

-3.5

-

-

-

-

    Purchase of LT Financial Assets at Fair

-2.7

-

-

-

-

    Increase-Securities Available-for-Sale

-0.9

0.0

-7.8

-3.6

-16.1

    Purchase of Financial Assets Held to Mat

-0.9

-0.5

0.0

0.0

0.0

    Increase-Other Investment Assets

-

-

-

-

-0.1

    Purchase of Land

-

-

-0.7

-

0.0

    Increase-Buildings

-

-

-

-0.1

0.0

    Increase-Building Attachments

-

-

-

-

0.0

    Increase-Structure

-

-

-

-0.1

-0.2

    Increase-Tools & Supplies

-

-

-0.7

-1.3

-0.3

    Increase-Machinery & Equipment

-

-

-0.5

-1.7

-0.9

    Increase-Transportation

-

-

-0.1

-0.1

-0.1

    Increase-Experimental Equipments

-

-

-0.1

-0.3

-0.7

    Increase-Construction Progress

-

-

-6.1

-1.5

-0.2

    Purchase of Property, Plant and Equipmen

-10.0

-7.8

-

-

-

    Purchase of Intangible Assets

-0.2

-0.2

-

-

-

    Increase-Special Facility Usage Right

-

-

-0.3

0.0

-0.9

    Purchase of Other Intangible Assets

-

-

-0.4

-

-

    Cash Interest Received

0.7

0.6

-

-

-

    Dividend Received

0.0

0.0

-

-

-

Cash from Investing Activities

-14.1

-1.7

-8.9

-4.5

-29.0

 

 

 

 

 

 

    Increase-ST Borrowings

3.8

2.4

4.2

0.9

2.2

    Increase-Subsidy from Government

1.3

1.1

0.7

0.5

0.4

    Capital Increase

-

-

-

-

27.6

    Decrease-ST Borrowings

-1.8

-4.1

-2.8

-0.4

-4.4

    Dec-Current Portion of LT Liabilities

-0.5

-0.4

-0.4

-0.5

-0.4

    Acquisition-Treasury Stock

-

-0.6

-0.6

-1.3

-

    Decrease in Rental Guarantee Deposits

0.0

-

-

-

-

    Dividends Paid

-3.0

-2.3

-2.0

-2.5

-1.6

    Cash-Interest Paid

-0.2

-0.2

-

-

-

    Increase-Expense for Stock Issuance

-

-

-

-

-1.3

    Proceeds from Sale of Treasury Stock

-

-

2.0

-

-

Cash from Financing Activities

-0.4

-4.2

1.0

-3.4

22.4

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

-

-

-

Net Change in Cash

0.9

3.4

0.3

-2.7

1.3

 

 

 

 

 

 

Net Cash Beginning Balance

7.2

3.5

2.9

6.1

5.9

Net Cash Ending Balance

8.1

6.9

3.2

3.4

7.2

    Cash Interest Paid

0.2

0.2

-

-

-

    Cash Taxes Paid

6.2

4.1

-

-

-

 

Financial Health

 

Financials in: USD (mil) 

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

Key Indicators USD (mil)

 

Quarter
Ending
31-Mar-2012

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2011

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1

33.2

4.06%

144.7

13.31%

15.10%

15.39%

Research & Development1

-

-

5.0

21.71%

18.93%

15.42%

Operating Income1

5.9

-16.72%

23.0

15.36%

17.15%

22.03%

Income Available to Common Excl Extraord Items1

4.6

-14.68%

18.2

16.88%

25.70%

24.76%

Basic EPS Excl Extraord Items1

0.52

-14.68%

2.07

17.00%

25.93%

16.39%

Capital Expenditures2

1.3

-47.50%

10.2

22.16%

27.01%

46.18%

Cash from Operating Activities2

2.1

-72.48%

15.4

60.05%

43.87%

14.60%

Free Cash Flow

0.7

-85.19%

5.0

305.48%

195.71%

-3.59%

Total Assets3

164.8

11.44%

157.2

15.75%

15.93%

20.41%

Total Liabilities3

47.3

11.24%

43.5

25.25%

18.30%

16.92%

Total Long Term Debt3

0.0

-

0.0

-

-

-

Employees3

-

-

485

12.53%

5.42%

7.30%

Total Common Shares Outstanding3

8.8

0.00%

8.8

0.00%

0.31%

6.26%

1-ExchangeRate: KRW to USD Average for Period

1131.034971

 

1107.891393

 

 

 

2-ExchangeRate: KRW to USD Average for Period

1131.034971

 

1107.891393

 

 

 

3-ExchangeRate: KRW to USD Period End Date

1138.093549

 

1152.000000

 

 

 

Key Ratios

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Profitability

Gross Margin

55.32%

53.86%

56.45%

59.35%

60.43%

Operating Margin

15.89%

15.61%

14.40%

15.08%

15.54%

Pretax Margin

16.59%

16.59%

13.85%

13.70%

15.49%

Net Profit Margin

12.61%

12.22%

10.46%

9.68%

11.14%

Financial Strength

Current Ratio

3.20

3.59

3.70

3.53

4.87

Long Term Debt/Equity

0.00

0.00

0.01

0.02

0.02

Total Debt/Equity

0.04

0.04

0.06

0.06

0.05

Management Effectiveness

Return on Assets

11.98%

12.06%

10.45%

9.26%

11.74%

Return on Equity

16.34%

16.00%

13.88%

12.15%

15.80%

Efficiency

Receivables Turnover

2.45

2.75

3.01

3.09

3.54

Inventory Turnover

3.24

3.01

2.66

2.45

2.68

Asset Turnover

0.95

0.99

1.00

0.96

1.05

Market Valuation USD (mil)

P/E (TTM)

6.62

.

Enterprise Value2

88.5

Price/Sales (TTM)

0.80

.

Enterprise Value/Revenue (TTM)

0.62

Price/Book (MRQ)

0.96

.

Enterprise Value/EBITDA (TTM)

3.48

Market Cap as of 20-Jul-20121

113.2

.

 

 

1-ExchangeRate: KRW to USD on 20-Jul-2012

1138.754926

 

 

 

2-ExchangeRate: KRW to USD on 31-Mar-2012

1138.093549

 

 

 

 

 

 

Annual Ratios

 

Financials in: USD (mil) 

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

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Financial Strength

Current Ratio

3.20

3.59

3.70

3.53

4.87

Quick/Acid Test Ratio

2.65

2.87

2.85

2.66

3.88

Working Capital1

74.8

69.4

57.0

48.6

61.8

Long Term Debt/Equity

0.00

0.00

0.01

0.02

0.02

Total Debt/Equity

0.04

0.04

0.06

0.06

0.05

Long Term Debt/Total Capital

0.00

0.00

0.01

0.02

0.02

Total Debt/Total Capital

0.04

0.03

0.06

0.05

0.05

Payout Ratio

16.58%

19.40%

20.52%

25.14%

24.46%

Effective Tax Rate

23.99%

26.31%

24.47%

29.34%

28.08%

Total Capital1

118.8

106.3

90.7

72.1

91.8

 

 

 

 

 

 

Efficiency

Asset Turnover

0.95

0.99

1.00

0.96

1.05

Inventory Turnover

3.24

3.01

2.66

2.45

2.68

Days In Inventory

112.68

121.43

137.37

149.20

136.25

Receivables Turnover

2.45

2.75

3.01

3.09

3.54

Days Receivables Outstanding

149.18

132.77

121.21

118.26

103.14

Revenue/Employee2

286,979

289,300

250,652

201,626

270,068

Operating Income/Employee2

45,606

45,156

36,088

30,395

41,956

EBITDA/Employee2

54,121

53,752

43,987

36,898

49,427

 

 

 

 

 

 

Profitability

Gross Margin

55.32%

53.86%

56.45%

59.35%

60.43%

Operating Margin

15.89%

15.61%

14.40%

15.08%

15.54%

EBITDA Margin

18.86%

18.58%

17.55%

18.30%

18.30%

EBIT Margin

15.89%

15.61%

14.40%

15.08%

15.54%

Pretax Margin

16.59%

16.59%

13.85%

13.70%

15.49%

Net Profit Margin

12.61%

12.22%

10.46%

9.68%

11.14%

R&D Expense/Revenue

3.43%

3.19%

3.23%

3.11%

3.36%

COGS/Revenue

43.08%

43.04%

41.40%

38.51%

38.22%

SG&A Expense/Revenue

38.64%

38.52%

40.97%

43.30%

42.88%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

11.98%

12.06%

10.45%

9.26%

11.74%

Return on Equity

16.34%

16.00%

13.88%

12.15%

15.80%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

0.57

0.14

-0.09

0.02

0.51

Operating Cash Flow/Share 2

1.68

1.07

1.01

0.52

0.87

1-ExchangeRate: KRW to USD Period End Date

1152

1134.9

1164.475

1259.55

936.05

2-ExchangeRate: KRW to USD Average for Period

1152

1134.9

1164.475

1259.55

936.05

 

Current Market Multiples

Market Cap/Earnings (TTM)

6.67

Market Cap/Equity (MRQ)

0.96

Market Cap/Revenue (TTM)

0.80

Market Cap/EBIT (TTM)

5.34

Market Cap/EBITDA (TTM)

4.45

Enterprise Value/Earnings (TTM)

5.21

Enterprise Value/Equity (MRQ)

0.75

Enterprise Value/Revenue (TTM)

0.62

Enterprise Value/EBIT (TTM)

4.17

Enterprise Value/EBITDA (TTM)

3.48

 

 

Annual Income Statement

Standardized

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

KPMG LLP

KPMG LLP

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

139.5

114.2

91.7

90.5

-

    Gross Revenue

-

-

-

-

98.7

    Sales Returns and Allowances

-

-

-

-

-2.8

Revenue

139.5

114.2

91.7

90.5

95.9

    Other Revenue

5.2

8.2

4.8

5.0

3.4

Other Revenue, Total

5.2

8.2

4.8

5.0

3.4

Total Revenue

144.7

122.4

96.5

95.5

99.3

 

 

 

 

 

 

    Cost of Revenue

62.3

52.7

40.0

36.8

38.0

Cost of Revenue, Total

62.3

52.7

40.0

36.8

38.0

Gross Profit

77.2

61.5

51.8

53.7

58.0

 

 

 

 

 

 

    Selling/General/Administrative Expense

13.5

10.2

9.2

7.8

7.9

    Labor & Related Expense

15.2

12.6

10.2

10.0

9.7

    Advertising Expense

27.3

24.4

20.2

23.6

25.0

Total Selling/General/Administrative Expenses

55.9

47.1

39.5

41.4

42.6

Research & Development

5.0

3.9

3.1

3.0

3.3

        Investment Income - Operating

0.0

-

-

-

-

    Interest/Investment Income - Operating

0.0

-

-

-

-

Interest Expense (Income) - Net Operating Total

0.0

-

-

-

-

    Impairment-Assets Held for Use

0.6

-

-

-

-

    Loss (Gain) on Sale of Assets - Operating

0.0

0.0

-

-

-

Unusual Expense (Income)

0.6

0.0

-

-

-

    Other Operating Expense

0.5

1.0

-

-

-

    Other, Net

-2.5

-1.4

-

-

-

Other Operating Expenses, Total

-2.1

-0.5

-

-

-

Total Operating Expense

121.7

103.3

82.6

81.1

83.9

 

 

 

 

 

 

Operating Income

23.0

19.1

13.9

14.4

15.4

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.2

-0.2

-0.2

-0.3

-0.3

    Interest Expense, Net Non-Operating

-0.2

-0.2

-0.2

-0.3

-0.3

        Interest Income - Non-Operating

1.0

0.7

1.1

1.3

1.1

        Investment Income - Non-Operating

0.2

0.7

-0.8

-2.3

-0.1

    Interest/Investment Income - Non-Operating

1.2

1.4

0.2

-0.9

1.0

    Interest Income (Expense) - Net Non-Operating

-

-

-

-

-

Interest Income (Expense) - Net Non-Operating Total

1.0

1.2

0.0

-1.2

0.6

Gain (Loss) on Sale of Assets

-

-

-0.7

-0.7

-0.8

    Other Non-Operating Income (Expense)

-

-

0.2

0.6

0.1

Other, Net

-

-

0.2

0.6

0.1

Income Before Tax

24.0

20.3

13.4

13.1

15.4

 

 

 

 

 

 

Total Income Tax

5.8

5.3

3.3

3.8

4.3

Income After Tax

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Net Income Before Extraord Items

18.2

15.0

10.1

9.2

11.1

Net Income

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

8.8

8.8

8.8

8.9

8.0

Basic EPS Excl Extraord Items

2.07

1.69

1.15

1.04

1.39

Basic/Primary EPS Incl Extraord Items

2.07

1.69

1.15

1.04

1.39

Dilution Adjustment

-

-

0.0

0.0

0.0

Diluted Net Income

18.2

15.0

10.1

9.2

11.1

Diluted Weighted Average Shares

8.8

8.8

8.8

8.9

8.0

Diluted EPS Excl Extraord Items

2.07

1.69

1.15

1.04

1.39

Diluted EPS Incl Extraord Items

2.07

1.69

1.15

1.04

1.39

Dividends per Share - Common Stock Primary Issue

0.34

0.33

0.24

0.26

0.34

Gross Dividends - Common Stock

3.0

2.9

2.1

2.3

3.0

Interest Expense, Supplemental

0.2

0.2

0.2

0.3

0.3

Depreciation, Supplemental

4.2

3.6

3.0

3.1

2.7

Total Special Items

0.6

0.0

0.7

0.7

0.8

Normalized Income Before Tax

24.6

20.3

14.1

13.8

16.2

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.1

0.0

0.2

0.2

0.2

Inc Tax Ex Impact of Sp Items

5.9

5.3

3.5

4.1

4.6

Normalized Income After Tax

18.7

15.0

10.7

9.8

11.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

18.7

15.0

10.7

9.8

11.7

 

 

 

 

 

 

Basic Normalized EPS

2.12

1.70

1.21

1.10

1.46

Diluted Normalized EPS

2.12

1.70

1.21

1.10

1.46

Amort of Intangibles, Supplemental

0.1

0.1

0.0

0.0

0.0

Rental Expenses

0.0

0.0

0.0

0.0

0.0

Advertising Expense, Supplemental

27.3

24.4

20.2

23.6

25.0

Research & Development Exp, Supplemental

5.6

4.8

3.1

3.0

3.8

Normalized EBIT

23.6

19.1

13.9

14.4

15.4

Normalized EBITDA

27.9

22.8

16.9

17.5

18.2

 

 

 

Interim Income Statement

Standardized

 

Financials in: USD (mil) 

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

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Restated Calculated 
31-Mar-2012

Reclassified Normal 
31-Mar-2012

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1145.271505

1082.999462

1083.436022

1120.28956

 

 

 

 

 

 

    Net Sales

32.2

33.7

38.9

36.0

31.2

Revenue

32.2

33.7

38.9

36.0

31.2

    Other Revenue

1.0

1.7

1.1

1.3

1.1

Other Revenue, Total

1.0

1.7

1.1

1.3

1.1

Total Revenue

33.2

35.4

39.9

37.3

32.2

 

 

 

 

 

 

    Cost of Revenue

12.0

14.6

18.2

17.3

12.3

Cost of Revenue, Total

12.0

14.6

18.2

17.3

12.3

Gross Profit

20.3

19.0

20.6

18.7

18.8

 

 

 

 

 

 

    Selling/General/Administrative Expense

15.9

15.8

15.7

15.9

13.5

Total Selling/General/Administrative Expenses

15.9

15.8

15.7

15.9

13.5

    Other Operating Expense

0.0

0.6

0.0

0.4

0.0

    Other, Net

-0.6

-0.4

-0.7

-0.6

-0.9

Other Operating Expenses, Total

-0.6

0.2

-0.7

-0.2

-0.8

Total Operating Expense

27.3

30.6

33.3

33.0

25.0

 

 

 

 

 

 

Operating Income

5.9

4.8

6.6

4.4

7.2

 

 

 

 

 

 

    Interest Income (Expense) - Net Non-Operating

0.0

0.2

0.4

0.2

0.2

Interest Income (Expense) - Net Non-Operating Total

0.0

0.2

0.4

0.2

0.2

Income Before Tax

5.9

5.1

7.0

4.5

7.4

 

 

 

 

 

 

Total Income Tax

1.3

1.0

1.8

1.0

1.9

Income After Tax

4.6

4.1

5.2

3.5

5.5

 

 

 

 

 

 

Net Income Before Extraord Items

4.6

4.1

5.2

3.5

5.5

Net Income

4.6

4.1

5.2

3.5

5.5

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

4.6

4.1

5.2

3.5

5.5

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

4.6

4.1

5.2

3.5

5.5

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

8.8

8.8

8.8

8.8

8.8

Basic EPS Excl Extraord Items

0.52

0.46

0.59

0.40

0.62

Basic/Primary EPS Incl Extraord Items

0.52

0.46

0.59

0.40

0.62

Diluted Net Income

4.6

4.1

5.2

3.5

5.5

Diluted Weighted Average Shares

8.8

8.8

8.8

8.8

8.8

Diluted EPS Excl Extraord Items

0.52

0.46

0.59

0.40

0.62

Diluted EPS Incl Extraord Items

0.52

0.46

0.59

0.40

0.62

Dividends per Share - Common Stock Primary Issue

0.00

0.33

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

2.9

0.0

0.0

0.0

Interest Expense, Supplemental

0.0

0.1

0.0

0.0

0.0

Depreciation, Supplemental

1.1

1.0

1.1

1.1

1.0

Normalized Income Before Tax

5.9

5.1

7.0

4.5

7.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

1.3

1.0

1.8

1.0

1.9

Normalized Income After Tax

4.6

4.1

5.2

3.5

5.5

 

 

 

 

 

 

Normalized Inc. Avail to Com.

4.6

4.1

5.2

3.5

5.5

 

 

 

 

 

 

Basic Normalized EPS

0.52

0.46

0.59

0.40

0.62

Diluted Normalized EPS

0.52

0.46

0.59

0.40

0.62

Amort of Intangibles, Supplemental

0.0

0.0

0.0

0.0

0.0

Rental Expenses

0.0

0.0

0.0

0.0

0.0

Advertising Expense, Supplemental

7.0

6.6

7.0

8.0

5.7

Research & Development Exp, Supplemental

2.0

2.1

1.0

1.0

1.5

Normalized EBIT

5.9

4.8

6.6

4.4

7.2

Normalized EBITDA

7.0

5.8

7.8

5.5

8.2

 

 

 

Annual Balance Sheet

Standardized

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

KPMG LLP

KPMG LLP

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

7.8

7.0

3.3

2.9

7.1

    Short Term Investments

20.5

17.4

19.5

17.7

23.2

Cash and Short Term Investments

28.3

24.4

22.9

20.6

30.4

        Accounts Receivable - Trade, Gross

63.6

52.9

38.4

30.3

31.8

        Provision for Doubtful Accounts

-3.0

-1.9

-2.4

-1.5

-2.6

    Trade Accounts Receivable - Net

61.0

51.1

36.0

29.1

29.7

    Other Receivables

0.9

1.5

1.1

1.5

2.0

Total Receivables, Net

62.0

52.6

37.2

30.6

31.6

    Inventories - Finished Goods

6.3

6.5

5.8

5.2

3.9

    Inventories - Work In Progress

4.0

4.4

4.0

3.5

4.4

    Inventories - Raw Materials

6.1

6.6

5.6

5.5

5.1

    Inventories - Other

2.0

1.4

1.1

1.1

1.3

Total Inventory

18.4

18.9

16.4

15.3

14.8

Prepaid Expenses

0.1

0.1

0.1

0.2

0.2

    Deferred Income Tax - Current Asset

-

-

0.8

1.1

0.9

    Other Current Assets

-

0.2

0.7

-

-

Other Current Assets, Total

-

0.2

1.5

1.1

0.9

Total Current Assets

108.8

96.2

78.0

67.8

77.8

 

 

 

 

 

 

        Buildings

20.4

18.7

10.3

9.5

12.6

        Land/Improvements

8.0

7.5

8.0

6.7

9.0

        Machinery/Equipment

34.3

32.7

29.8

24.0

26.9

        Construction in Progress

6.9

2.0

4.4

0.2

0.1

        Other Property/Plant/Equipment

-0.7

-0.7

-

-

-

    Property/Plant/Equipment - Gross

68.8

60.3

52.6

40.4

48.6

    Accumulated Depreciation

-30.4

-26.9

-28.2

-23.1

-27.6

Property/Plant/Equipment - Net

38.4

33.3

24.3

17.2

21.0

Intangibles, Net

3.0

3.8

3.5

2.6

2.5

    LT Investments - Other

4.1

2.8

4.4

3.5

8.2

Long Term Investments

4.1

2.8

4.4

3.5

8.2

    Pension Benefits - Overfunded

-

-

0.0

0.2

0.0

    Deferred Income Tax - Long Term Asset

1.1

0.2

0.1

-

-

    Other Long Term Assets

1.8

1.6

1.4

1.0

1.1

Other Long Term Assets, Total

3.0

1.8

1.6

1.2

1.1

Total Assets

157.2

137.9

111.9

92.3

110.5

 

 

 

 

 

 

Accounts Payable

9.2

8.1

5.1

3.4

2.6

Accrued Expenses

2.2

2.0

0.6

0.4

0.5

Notes Payable/Short Term Debt

4.6

2.8

3.8

2.3

2.0

Current Portion - Long Term Debt/Capital Leases

0.4

0.4

0.4

0.4

0.6

    Customer Advances

0.2

0.3

0.2

0.2

0.0

    Security Deposits

-

-

1.6

1.5

2.0

    Income Taxes Payable

3.5

3.7

2.0

2.5

3.7

    Other Payables

12.4

8.9

7.1

5.9

4.0

    Other Current Liabilities

1.4

0.6

0.4

2.6

0.5

Other Current liabilities, Total

17.5

13.5

11.2

12.7

10.3

Total Current Liabilities

34.0

26.8

21.1

19.2

16.0

 

 

 

 

 

 

    Long Term Debt

-

0.4

0.9

1.2

2.1

Total Long Term Debt

0.0

0.4

0.9

1.2

2.1

Total Debt

5.1

3.7

5.1

3.9

4.7

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

-

-

-

0.0

0.9

Deferred Income Tax

-

-

-

0.0

0.9

    Reserves

2.7

2.2

1.6

1.2

1.4

    Pension Benefits - Underfunded

4.7

3.5

2.4

2.2

2.8

    Other Long Term Liabilities

2.2

2.4

0.4

0.2

0.2

Other Liabilities, Total

9.5

8.0

4.4

3.6

4.4

Total Liabilities

43.5

35.3

26.3

24.0

23.5

 

 

 

 

 

 

    Common Stock

19.3

19.6

19.1

13.6

18.3

Common Stock

19.3

19.6

19.1

13.6

18.3

Additional Paid-In Capital

13.7

13.9

14.7

17.3

23.3

Retained Earnings (Accumulated Deficit)

81.2

68.8

52.0

39.9

45.8

Treasury Stock - Common

-0.8

-0.8

-0.2

-1.1

-

Unrealized Gain (Loss)

0.6

0.7

-0.6

-1.4

-0.3

    Other Equity

0.3

0.3

-

-

-

    Other Comprehensive Income

-0.6

0.1

0.6

-

-

Other Equity, Total

-0.3

0.4

0.6

-

-

Total Equity

113.8

102.6

85.6

68.3

87.1

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

157.2

137.9

111.9

92.3

110.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

8.8

8.8

8.9

8.7

8.9

Total Common Shares Outstanding

8.8

8.8

8.9

8.7

8.9

Treasury Shares - Common Stock Primary Issue

0.1

0.1

0.0

0.1

0.0

Employees

485

431

422

414

365

Number of Common Shareholders

-

1,967

2,167

2,038

2,889

Accumulated Intangible Amort, Suppl.

0.3

0.2

-

-

-

Deferred Revenue - Current

0.2

0.3

0.2

0.2

0.0

Total Long Term Debt, Supplemental

0.4

-

0.9

1.6

2.7

Long Term Debt Maturing within 1 Year

0.4

-

0.4

0.4

0.6

Long Term Debt Maturing in Year 2

-

-

0.4

0.4

0.5

Long Term Debt Maturing in Year 3

-

-

-

0.4

0.5

Long Term Debt Maturing in Year 4

-

-

-

0.4

0.5

Long Term Debt Maturing in Year 5

-

-

-

-

0.5

Long Term Debt Maturing in 2-3 Years

-

-

0.4

0.8

1.1

Long Term Debt Maturing in 4-5 Years

-

-

-

0.4

1.1

Long Term Debt Matur. in Year 6 & Beyond

0.0

-

0.0

0.0

0.0

 

 

 

Interim Balance Sheet

Standardized

 

Financials in: USD (mil) 

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

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1138.093549

1152

1178.05

1067.65

1096.95

 

 

 

 

 

 

    Cash & Equivalents

6.4

7.8

8.6

7.5

9.4

    Short Term Investments

23.4

20.5

18.5

23.3

21.3

Cash and Short Term Investments

29.8

28.3

27.1

30.8

30.7

        Accounts Receivable - Trade, Gross

63.2

63.6

60.9

59.7

54.9

        Provision for Doubtful Accounts

-3.1

-3.0

-2.4

-2.0

-2.0

    Trade Accounts Receivable - Net

60.5

61.0

58.9

57.9

53.1

    Other Receivables

1.0

0.9

0.9

1.2

0.5

Total Receivables, Net

61.5

62.0

59.8

59.2

53.6

    Inventories - Finished Goods

8.7

6.3

6.4

8.4

8.8

    Inventories - Work In Progress

6.3

4.0

3.7

4.8

4.4

    Inventories - Raw Materials

6.5

6.1

6.4

7.1

7.1

    Inventories - Other

2.1

2.0

1.6

1.3

1.4

Total Inventory

23.6

18.4

18.0

21.6

21.8

Prepaid Expenses

0.4

0.1

0.1

0.2

0.3

    Other Current Assets

0.3

-

0.1

0.8

-

Other Current Assets, Total

0.3

-

0.1

0.8

-

Total Current Assets

115.6

108.8

105.1

112.6

106.4

 

 

 

 

 

 

        Buildings

23.9

20.4

19.9

21.7

19.6

        Land/Improvements

8.1

8.0

7.9

8.5

7.8

        Machinery/Equipment

36.3

34.3

33.4

36.8

34.8

        Construction in Progress

3.4

6.9

5.0

3.7

3.4

        Other Property/Plant/Equipment

-0.8

-0.7

-0.7

-0.8

-0.7

    Property/Plant/Equipment - Gross

70.9

68.8

65.5

70.0

64.9

    Accumulated Depreciation

-31.9

-30.4

-28.8

-30.7

-28.9

Property/Plant/Equipment - Net

39.0

38.4

36.8

39.3

36.0

Intangibles, Net

3.0

3.0

3.5

3.9

3.9

    LT Investments - Other

4.2

4.1

4.6

5.6

5.0

Long Term Investments

4.2

4.1

4.6

5.6

5.0

    Deferred Income Tax - Long Term Asset

1.1

1.1

0.9

0.8

0.4

    Other Long Term Assets

1.9

1.8

1.6

1.8

1.7

Other Long Term Assets, Total

3.0

3.0

2.5

2.6

2.1

Total Assets

164.8

157.2

152.5

164.0

153.4

 

 

 

 

 

 

Accounts Payable

9.3

9.2

9.5

10.4

8.6

Accrued Expenses

1.8

2.2

2.1

2.0

1.9

Notes Payable/Short Term Debt

5.0

4.6

6.9

7.9

3.9

Current Portion - Long Term Debt/Capital Leases

-

0.4

0.4

-

-

    Dividends Payable

2.9

-

-

-

-

    Customer Advances

0.3

0.2

0.5

0.3

0.1

    Security Deposits

-

-

1.4

1.6

1.6

    Income Taxes Payable

4.9

3.5

2.4

3.7

-

    Other Payables

12.1

12.4

12.7

12.9

12.6

    Other Current Liabilities

1.2

1.4

2.2

1.5

10.5

Other Current liabilities, Total

21.4

17.5

19.2

20.1

24.8

Total Current Liabilities

37.6

34.0

38.2

40.3

39.2

 

 

 

 

 

 

    Long Term Debt

-

-

-

0.2

0.2

Total Long Term Debt

0.0

0.0

0.0

0.2

0.2

Total Debt

5.0

5.1

7.3

8.1

4.1

 

 

 

 

 

 

    Reserves

2.9

2.7

2.6

2.4

-

    Pension Benefits - Underfunded

4.6

4.7

2.7

4.6

4.1

    Other Long Term Liabilities

2.2

2.2

0.7

0.8

0.6

Other Liabilities, Total

9.7

9.5

6.1

7.7

4.7

Total Liabilities

47.3

43.5

44.3

48.3

44.1

 

 

 

 

 

 

    Common Stock

19.5

19.3

18.9

35.6

34.7

Common Stock

19.5

19.3

18.9

35.6

34.7

Additional Paid-In Capital

13.9

13.7

13.4

-

-

Retained Earnings (Accumulated Deficit)

83.8

81.2

76.7

79.3

73.7

Treasury Stock - Common

-0.8

-0.8

-0.8

-0.9

-

Unrealized Gain (Loss)

0.6

0.6

-0.1

-0.1

-

    Other Equity

0.3

0.3

1.1

1.2

0.9

    Other Comprehensive Income

0.1

-0.6

-0.9

0.6

-

Other Equity, Total

0.4

-0.3

0.2

1.8

0.9

Total Equity

117.5

113.8

108.3

115.7

109.3

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

164.8

157.2

152.5

164.0

153.4

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

8.8

8.8

8.8

8.8

8.8

Total Common Shares Outstanding

8.8

8.8

8.8

8.8

8.8

Treasury Shares - Common Stock Primary Issue

0.1

0.1

0.1

0.1

0.1

Employees

499

485

483

496

474

Accumulated Intangible Amort, Suppl.

0.3

0.3

0.2

-

-

Deferred Revenue - Current

0.3

0.2

0.5

0.3

0.1

Total Long Term Debt, Supplemental

-

0.4

0.4

0.7

0.7

Long Term Debt Maturing within 1 Year

-

0.4

0.4

0.5

0.5

Long Term Debt Maturing in Year 2

-

-

-

0.2

0.2

Long Term Debt Maturing in 2-3 Years

-

-

-

0.2

0.2

Long Term Debt Matur. in Year 6 & Beyond

-

0.0

0.0

0.0

0.0

 

Annual Cash Flows

Standardized

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Reclassified Normal
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

KPMG LLP

KPMG LLP

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

18.2

15.0

10.1

9.2

11.1

    Depreciation

4.2

3.6

3.0

3.1

2.7

Depreciation/Depletion

4.2

3.6

3.0

3.1

2.7

    Amortization of Intangibles

0.1

0.1

0.0

0.0

0.0

Amortization

0.1

0.1

0.0

0.0

0.0

Deferred Taxes

-

0.0

-0.1

-1.1

-0.9

    Unusual Items

1.6

0.6

0.9

2.3

1.3

    Other Non-Cash Items

6.9

6.5

3.4

3.0

2.3

Non-Cash Items

8.5

7.2

4.3

5.3

3.6

    Accounts Receivable

-11.8

-12.8

-5.3

-7.7

-6.1

    Inventories

-0.6

-2.3

-1.1

-5.5

-2.5

    Prepaid Expenses

0.0

0.0

0.1

-0.1

0.0

    Other Assets

-

0.9

-

-

0.0

    Accounts Payable

4.6

2.6

1.8

5.1

-0.7

    Accrued Expenses

-0.1

0.2

0.0

0.3

-0.1

    Taxes Payable

0.4

0.5

-0.6

-0.7

1.8

    Other Liabilities

-1.9

-1.7

-4.0

-2.8

-1.2

    Other Assets & Liabilities, Net

-

0.0

-

-

-

    Other Operating Cash Flow

-6.2

-4.1

-

-

-

Changes in Working Capital

-15.6

-16.6

-9.0

-11.3

-8.7

Cash from Operating Activities

15.4

9.2

8.2

5.2

7.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-10.0

-7.8

-8.3

-5.0

-2.4

    Purchase/Acquisition of Intangibles

-0.2

-0.2

-0.7

0.0

-0.9

Capital Expenditures

-10.2

-8.0

-9.0

-5.0

-3.3

    Sale of Fixed Assets

0.0

0.0

0.0

0.0

0.0

    Sale/Maturity of Investment

29.3

54.9

39.5

22.3

18.5

    Purchase of Investments

-34.6

-49.3

-39.5

-21.5

-41.9

    Sale of Intangible Assets

0.3

-

-

-

-

    Other Investing Cash Flow

1.1

0.7

0.0

-0.3

-2.3

Other Investing Cash Flow Items, Total

-3.9

6.3

0.0

0.5

-25.7

Cash from Investing Activities

-14.1

-1.7

-8.9

-4.5

-29.0

 

 

 

 

 

 

    Other Financing Cash Flow

1.1

0.9

0.7

0.5

-0.9

Financing Cash Flow Items

1.1

0.9

0.7

0.5

-0.9

    Cash Dividends Paid - Common

-3.0

-2.3

-2.0

-2.5

-1.6

Total Cash Dividends Paid

-3.0

-2.3

-2.0

-2.5

-1.6

        Sale/Issuance of Common

-

-

2.0

-

27.6

        Repurchase/Retirement of Common

-

-0.6

-0.6

-1.3

-

    Common Stock, Net

-

-0.6

1.3

-1.3

27.6

Issuance (Retirement) of Stock, Net

-

-0.6

1.3

-1.3

27.6

        Short Term Debt Issued

3.8

2.4

4.2

0.9

2.2

        Short Term Debt Reduction

-1.8

-4.1

-2.8

-0.4

-4.4

    Short Term Debt, Net

2.0

-1.7

1.3

0.5

-2.2

        Long Term Debt Reduction

-0.5

-0.4

-0.4

-0.5

-0.4

    Long Term Debt, Net

-0.5

-0.4

-0.4

-0.5

-0.4

Issuance (Retirement) of Debt, Net

1.5

-2.1

0.9

0.0

-2.6

Cash from Financing Activities

-0.4

-4.2

1.0

-3.4

22.4

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

-

-

-

Net Change in Cash

0.9

3.4

0.3

-2.7

1.3

 

 

 

 

 

 

Net Cash - Beginning Balance

7.2

3.5

2.9

6.1

5.9

Net Cash - Ending Balance

8.1

6.9

3.2

3.4

7.2

Cash Interest Paid

0.2

0.2

-

-

-

Cash Taxes Paid

6.2

4.1

-

-

-

 

 

 

Interim Cash Flows

Standardized

 

Financials in: USD (mil) 

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

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

12 Months

9 Months

6 Months

3 Months

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1107.891393

1095.603455

1101.856011

1120.28956

 

 

 

 

 

 

Net Income/Starting Line

4.6

18.2

14.2

9.0

5.5

    Depreciation

1.1

4.2

3.2

2.1

1.0

Depreciation/Depletion

1.1

4.2

3.2

2.1

1.0

    Amortization of Intangibles

0.0

0.1

0.1

0.0

0.0

Amortization

0.0

0.1

0.1

0.0

0.0

Deferred Taxes

-

-

-

-0.2

-

    Unusual Items

0.1

1.6

1.5

0.7

0.1

    Other Non-Cash Items

1.7

6.9

4.7

3.2

1.9

Non-Cash Items

1.7

8.5

6.2

3.8

2.0

    Accounts Receivable

1.1

-11.8

-10.0

-3.1

-0.2

    Inventories

-5.0

-0.6

-0.9

-1.9

-2.3

    Prepaid Expenses

-0.3

0.0

0.0

0.0

-

    Other Assets

-

-

-0.7

0.3

0.3

    Accounts Payable

-0.5

4.6

5.9

4.9

0.1

    Accrued Expenses

-0.3

-0.1

-0.2

-0.3

-

    Taxes Payable

-0.1

0.4

0.5

0.1

-

    Other Liabilities

-0.2

-1.9

0.2

0.8

3.0

    Other Assets & Liabilities, Net

0.0

-

0.0

0.0

-

    Other Operating Cash Flow

0.0

-6.2

-6.3

-3.6

-1.7

Changes in Working Capital

-5.4

-15.6

-11.4

-2.7

-0.8

Cash from Operating Activities

2.1

15.4

12.3

12.2

7.7

 

 

 

 

 

 

    Purchase of Fixed Assets

-1.3

-10.0

-8.3

-5.9

-2.6

    Purchase/Acquisition of Intangibles

-

-0.2

-0.2

-0.2

-

Capital Expenditures

-1.3

-10.2

-8.5

-6.1

-2.6

    Sale of Fixed Assets

-

0.0

0.0

0.0

0.0

    Sale/Maturity of Investment

7.0

29.3

2.7

13.8

9.6

    Purchase of Investments

-9.6

-34.6

-5.3

-6.8

-13.4

    Sale of Intangible Assets

-

0.3

0.3

0.3

-

    Other Investing Cash Flow

0.3

1.1

-1.6

-14.3

0.1

Other Investing Cash Flow Items, Total

-2.3

-3.9

-4.0

-7.1

-3.7

Cash from Investing Activities

-3.6

-14.1

-12.4

-13.1

-6.3

 

 

 

 

 

 

    Other Financing Cash Flow

0.3

1.1

1.0

-0.1

0.4

Financing Cash Flow Items

0.3

1.1

1.0

-0.1

0.4

    Cash Dividends Paid - Common

-

-3.0

-3.1

-3.0

-

Total Cash Dividends Paid

-

-3.0

-3.1

-3.0

-

        Short Term Debt Issued

3.8

3.8

8.1

4.4

0.6

        Short Term Debt Reduction

-3.7

-1.8

-3.7

-

-

    Short Term Debt, Net

0.1

2.0

4.5

4.4

0.6

        Long Term Debt Reduction

-0.2

-0.5

-0.5

-0.2

-0.2

    Long Term Debt, Net

-0.2

-0.5

-0.5

-0.2

-0.2

Issuance (Retirement) of Debt, Net

-0.2

1.5

4.0

4.1

0.3

Cash from Financing Activities

0.1

-0.4

2.0

1.0

0.7

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

0.0

0.2

0.0

0.0

Net Change in Cash

-1.5

0.9

2.0

0.0

2.1

 

 

 

 

 

 

Net Cash - Beginning Balance

7.9

7.2

7.3

7.3

7.1

Net Cash - Ending Balance

6.4

8.1

9.3

7.3

9.2

Cash Interest Paid

0.0

0.2

0.1

0.1

0.0

Cash Taxes Paid

0.0

6.2

6.3

3.6

1.7

 

 

 

Annual Income Statement

As Reported

 

Financials in: USD (mil) 

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

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

KPMG LLP

KPMG LLP

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Finished Goods Revenues, Gross

-

-

-

-

87.8

    Merchandises, Gross

-

-

-

-

10.9

    Sales Allowance

-

-

-

-

-2.8

    Finished Goods Revenues

120.7

99.7

77.7

81.8

-

    Merchandise Revenue

18.8

14.5

14.0

8.7

-

    Other Revenue

5.2

8.2

4.8

5.0

3.4

Total Revenue

144.7

122.4

96.5

95.5

99.3

 

 

 

 

 

 

    Cost-Finished Goods Sold

44.1

34.2

25.0

25.5

25.3

    Cost-Merchandise Sold

15.1

12.2

11.2

7.3

9.1

    Cost-Other Sales

3.2

6.3

3.7

4.0

3.5

    Salaries & Wages

13.5

10.9

5.6

5.6

5.4

    Other Payrolls

-

-

0.2

0.2

0.2

    Bonuses

-

-

2.4

2.2

2.2

    Retirement Allowance

1.2

1.1

1.1

1.1

1.2

    Employee Benefits

0.4

0.5

0.9

0.8

0.7

    Travel Expense

3.8

2.7

2.2

1.9

1.7

    Communication Expense

0.3

0.1

0.1

0.1

0.1

    Utility Expense

0.1

0.1

0.0

0.0

0.0

    Taxes & Dues

0.2

0.1

0.4

0.4

0.4

    Consumable Expense

0.4

0.2

0.2

0.1

0.1

    Publishing & Printing Expense

0.7

0.6

0.8

0.7

0.7

    Rent

0.0

0.0

0.0

0.0

0.0

    Building Maintenance Expense

0.3

0.2

0.2

0.2

0.2

    Vehicles Maintenance Expense

0.1

0.1

0.1

0.1

0.1

    Repair Expense

0.0

0.0

0.0

0.0

0.0

    Insurance Expense

0.1

0.0

0.2

0.2

0.1

    Commission Paid

2.6

1.9

1.6

1.6

1.3

    Shipping & Handling Expense

0.3

0.1

0.1

0.1

0.1

    Packaging Expense

0.0

0.0

0.0

0.0

0.0

    Entertainment Expense

0.2

0.2

0.2

0.2

0.3

    Sales Promotional Expenses

3.7

3.5

2.4

2.7

1.8

    Advertising Expense

23.6

20.9

17.8

20.9

23.2

    Education & Training Expense

0.2

0.3

0.1

0.1

0.1

    Exporting Expense

1.4

1.2

0.9

0.9

0.8

    Expense-Samples

0.4

0.3

0.6

0.4

0.7

    Conference Expense

0.0

0.0

0.0

0.0

0.0

    Expenses of Allowance for Doubtful Accou

1.5

1.2

1.0

-

0.4

    R & D Expenses

5.0

3.9

3.1

3.0

3.3

    Depreciation Expense

0.9

0.7

0.6

0.6

0.6

    Amortization-Intangibles

0.1

0.1

0.0

0.0

0.0

    Miscellaneous Operating Expense

0.0

0.0

0.0

0.0

0.0

    Adjustment for Selling and Administrativ

0.0

0.0

-

-

-

    Commission Income

-1.1

-

-

-

-

    Rental Income

-0.1

-0.1

-

-

-

    Gain on Disposal of Property, Plant and

0.0

0.0

-

-

-

    Government Subsidy

-0.9

-0.6

-

-

-

    Miscellaneous Income

-0.5

-0.7

-

-

-

    Adjustment for Other Operating Income

0.0

-

-

-

-

    Loss on Disposal of Property, Plant and

0.0

0.0

-

-

-

    Loss on Disposal of Intangible Assets

0.0

-

-

-

-

    Impairment Loss on Intangible Assets

0.6

-

-

-

-

    Depreciation for Investment Property

0.0

-

-

-

-

    Donations Paid

0.5

0.5

-

-

-

    Other Allowance for Doubtful Accounts

-

0.2

-

-

-

    Miscellaneous Loss

0.0

0.3

-

-

-

    Adjustment for Other Operating Expense

0.0

-

-

-

-

Total Operating Expense

121.7

103.3

82.6

81.1

83.9

 

 

 

 

 

 

    Interest Income

1.0

0.7

1.1

1.3

1.1

    Dividend Income

0.0

0.0

0.0

0.0

0.0

    Gain on Disposal of Financial Instrument

0.6

0.1

0.3

0.2

0.2

    Gain on Derivatives Transaction

0.7

0.9

-

-

0.0

    Gain on Foreign Currency Transactions

0.5

0.5

0.5

1.8

0.2

    Gain on Foreign Currency Translations

0.1

0.1

0.1

0.1

0.1

    Gain on Valuation of Derivatives

0.0

0.0

-

-

-

    Gain-Disposal of Tangible Assets

-

-

0.0

0.0

0.0

    G-Reduction Loss of Sec. Avail-for-Sale

-

-

0.1

0.0

-

    Gain on Valuation of Financial Assets at

0.0

-

-

-

-

    Gain on Disposal of Financial Assets at

0.0

0.1

-

-

-

    Recovery-Loan Loss Reserve

-

-

-

0.4

-

    Government Subsidy

-

-

0.3

0.1

0.2

    Miscellaneous Non-Operating Income

-

-

0.3

0.3

0.3

    Interest Expense, Non-Operating

-0.2

-0.2

-0.2

-0.3

-0.3

    Loss on Disposal of Financial Instrument

-0.1

-0.4

-

0.0

-0.1

    Loss on Derivative Transaction

-0.1

-

-0.9

-1.2

0.0

    Loss on Foreign Currency Transactions

-0.6

-0.4

-0.7

-0.5

-0.2

    Loss on Foreign Currency Translations

-0.1

-0.1

-0.2

-0.7

0.0

    Loss-Reduct. of Sec. Available-Sale

-

-

-

-

-0.2

    Disposal Loss on Securities Held-to-Matu

0.0

0.0

-

-

-

    Loss on Disposal of Financial Assets at

-0.6

-

-

-

-

    Loss on Valuation of Financial Assets at

-0.2

-

-

-

-

    Loss on Valuation of Derivatives

0.0

0.0

-

-2.0

-0.2

    Loss-Scrapping of inventory

-

-

-0.7

-0.8

-0.8

    Losses on Sale of Property, Plant and Eq

-

-

0.0

-

-

    Donations Paid, Non-Operating

-

-

-0.3

-0.3

-0.4

    Miscellaneous Non-Operating Expense

-

-

0.0

0.0

0.0

    Loss- Valu. of Sec. Available-Sale

-

-

0.0

-

-

    Other Allowance for Doubtful Accounts

-

-

-0.1

-

-

    Adjustment for Finance Income

0.0

-

-

-

-

    Adjustment for Finance Expense

0.0

-

-

-

-

Net Income Before Taxes

24.0

20.3

13.4

13.1

15.4

 

 

 

 

 

 

Provision for Income Taxes

5.8

5.3

3.3

3.8

4.3

Net Income After Taxes

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Net Income Before Extra. Items

18.2

15.0

10.1

9.2

11.1

Net Income

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

18.2

15.0

10.1

9.2

11.1

 

 

 

 

 

 

Basic Weighted Average Shares

8.8

8.8

8.8

8.9

8.0

Basic EPS Excluding ExtraOrdinary Items

2.07

1.69

1.15

1.04

1.39

Basic EPS Including ExtraOrdinary Items

2.07

1.69

1.15

1.04

1.39

Dilution Adjustment

-

-

0.0

0.0

0.0

Diluted Net Income

18.2

15.0

10.1

9.2

11.1

Diluted Weighted Average Shares

8.8

8.8

8.8

8.9

8.0

Diluted EPS Excluding ExtraOrd Items

2.07

1.69

1.15

1.04

1.39

Diluted EPS Including ExtraOrd Items

2.07

1.69

1.15

1.04

1.39

DPS-Common Stock

0.34

0.33

0.24

0.26

0.34

Gross Dividends - Common Stock

3.0

2.9

2.1

2.3

3.0

Normalized Income Before Taxes

24.6

20.3

14.1

13.8

16.2

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

5.9

5.3

3.5

4.1

4.6

Normalized Income After Taxes

18.7

15.0

10.7

9.8

11.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

18.7

15.0

10.7

9.8

11.7

 

 

 

 

 

 

Basic Normalized EPS

2.12

1.70

1.21

1.10

1.46

Diluted Normalized EPS

2.12

1.70

1.21

1.10

1.46

Interest Expense, Supplemental

0.2

0.2

0.2

0.3

0.3

Rental Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

Advertising Expense, Supplemental

27.3

24.4

20.2

23.6

25.0

R&D Expense, Supplemental

5.6

4.8

3.1

3.0

3.8

Depreciation, Supplemental

4.2

3.6

3.0

3.1

2.7

Amort of Intangibles, Supplemental

0.1

0.1

0.0

0.0

0.0

 

 

 

Interim Income Statement

As Reported

 

Financials in: USD (mil)                                                                

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

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal
31-Mar-2012

Updated Normal
31-Dec-2011

Updated Normal
30-Sep-2011

Restated Calculated 
31-Mar-2012

Reclassified Normal
31-Mar-2012

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1145.271505

1082.999462

1083.436022

1120.28956

 

 

 

 

 

 

    Finished Product Revenue

29.9

30.9

31.9

30.2

27.7

    Merchandise Revenue

2.3

2.8

7.0

5.8

3.4

    Other Revenue

1.0

1.7

1.1

1.3

1.1

Total Revenue

33.2

35.4

39.9

37.3

32.2

 

 

 

 

 

 

    Cost-Finished Goods Sold

9.9

11.2

12.6

11.3

9.0

    Cost-Merchandise Sold

1.5

2.6

5.0

5.2

2.4

    Cost-Other Cost

0.6

0.8

0.6

0.8

0.9

    Other Operating Income

-0.6

-0.4

-0.7

-0.6

-0.9

    Other Operating Expense

0.0

0.6

0.0

0.4

0.0

    Selling and Administrative Expenses

15.9

15.8

15.7

15.9

13.5

Total Operating Expense

27.3

30.6

33.3

33.0

25.0

 

 

 

 

 

 

    Finance Expense

-0.4

0.0

-1.2

-0.3

-0.4

    Finance Income

0.4

0.2

1.6

0.5

0.6

Net Income Before Taxes

5.9

5.1

7.0

4.5

7.4

 

 

 

 

 

 

Provision for Income Taxes

1.3

1.0

1.8

1.0

1.9

Net Income After Taxes

4.6

4.1

5.2

3.5

5.5

 

 

 

 

 

 

Net Income Before Extra. Items

4.6

4.1

5.2

3.5

5.5

Net Income

4.6

4.1

5.2

3.5

5.5

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

4.6

4.1

5.2

3.5

5.5

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

4.6

4.1

5.2

3.5

5.5

 

 

 

 

 

 

Basic Weighted Average Shares

8.8

8.8

8.8

8.8

8.8

Basic EPS Excluding ExtraOrdinary Items

0.52

0.46

0.59

0.40

0.62

Basic EPS Including ExtraOrdinary Items

0.52

0.46

0.59

0.40

0.62

Diluted Net Income

4.6

4.1

5.2

3.5

5.5

Diluted Weighted Average Shares

8.8

8.8

8.8

8.8

8.8

Diluted EPS Excluding ExtraOrd Items

0.52

0.46

0.59

0.40

0.62

Diluted EPS Including ExtraOrd Items

0.52

0.46

0.59

0.40

0.62

DPS-Common Stock

0.00

0.33

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

2.9

0.0

0.0

0.0

Normalized Income Before Taxes

5.9

5.1

7.0

4.5

7.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

1.3

1.0

1.8

1.0

1.9

Normalized Income After Taxes

4.6

4.1

5.2

3.5

5.5

 

 

 

 

 

 

Normalized Inc. Avail to Com.

4.6

4.1

5.2

3.5

5.5

 

 

 

 

 

 

Basic Normalized EPS

0.52

0.46

0.59

0.40

0.62

Diluted Normalized EPS

0.52

0.46

0.59

0.40

0.62

Interest Expense, Supplemental

0.0

0.1

0.0

0.0

0.0

Rental Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

Advertising Expense, Supplemental

7.0

6.6

7.0

8.0

5.7

R&D Expense, Supplemental

2.0

2.1

1.0

1.0

1.5

Depreciation, Supplemental

1.1

1.0

1.1

1.1

1.0

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-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

KPMG LLP

KPMG LLP

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash and CashEquivalents

7.8

7.0

3.5

2.9

7.1

    Current Financial Deposits

18.9

17.4

-

-

-

    ST Financial Assets

-

-

17.8

14.5

18.3

    Financial Assets at Fair Value Through P

0.7

-

-

-

-

    ST Securities Available for Sale

-

-

1.7

3.3

4.9

    ST Loan, Net

1.0

1.1

1.2

1.5

1.9

    Allowance for Doubtful Accounts for Shor

-0.3

-0.3

-0.1

-

-

    Trade Receivable

63.6

52.9

38.4

30.3

31.8

    Allowance for Doubtful Accounts for Trad

-3.0

-1.9

-2.4

-1.5

-2.6

    Other Receivable, Net

0.2

0.7

0.0

0.1

0.1

    Allowance for Doubtful Accounts for Othe

0.0

0.0

-

-

-

    Prepaid Expense

0.1

0.1

0.1

0.2

0.2

    Advanced Payment

0.2

0.2

0.2

0.1

0.2

    Deferred Income Taxes-Debit, Current

-

-

0.8

1.1

0.9

    Accrued Income

0.4

0.1

0.1

0.3

0.4

    Merchandises

1.1

1.7

1.6

2.4

1.2

    Finished Goods

6.5

5.9

5.1

2.8

2.6

    Goods in Transit

0.2

0.1

0.2

0.2

0.1

    Raw Materials

6.3

6.8

5.6

5.5

5.1

    Works in Process

4.8

4.6

4.2

3.5

4.4

    Supplies

1.7

1.2

0.8

0.8

1.1

    Government Subsidy for Cash and Cash Equ

-

-

-0.2

-

-

    Current Securities Held-to-Maturities

0.9

-

0.0

-

-

    Derivative Assets Current

-

0.2

0.7

-

-

    Allowance for Loss on Valuation of Merch

-0.5

-0.6

-0.6

-

-

    Allowance for Loss on Valuation of Finis

-0.8

-0.5

-0.3

-

-

    Allowance for Loss on Valuation of Raw M

-0.2

-0.2

0.0

-

-

    Allowance for Loss on Valuation of Works

-0.7

-0.2

-0.2

-

-

    Allowance for Loss on Valuation of Suppl

0.0

0.0

0.0

-

-

    Allowance for Loss on Valuation of Goods

0.0

0.0

0.0

-

-

    Adjustment for Trade Receivables

-

0.0

-

-

-

    Adjustment for Other Receivables

0.0

-

-

-

-

    Adjustment for Inventories

0.0

0.0

-

-

-

    Adjustment for Other Current Assets

-

0.0

-

-

-

Total Current Assets

108.8

96.2

78.0

67.8

77.8

 

 

 

 

 

 

    LT Financial Assets

-

-

0.0

0.2

0.2

    Non-Current Financial Deposits

0.3

0.1

-

-

-

    Non-Current Securities Available-for-Sal

0.9

1.3

4.2

3.2

6.8

    Securities Held to Maturities

0.4

0.4

0.1

0.0

0.0

    Financial Instruments at Fair Value Thro

1.5

-

-

-

-

    Other Investment Assets

-

-

0.1

0.1

1.2

    Investment in Properties

0.9

1.0

-

-

-

    LT Security Deposit

1.8

1.6

1.4

1.0

1.1

    Deposit-Retirement Insurance

-

-

0.0

0.2

0.0

    Land

8.0

7.5

8.0

6.7

9.0

    Buildings

14.1

13.3

8.5

7.8

10.5

    Buildings-Depreciation

-3.7

-3.2

-2.9

-2.4

-2.8

    Attachment to Buildings

5.5

4.6

1.1

1.0

1.3

    Attachments-Depreciation

-0.6

-0.4

-0.4

-0.3

-0.3

    Structures

0.8

0.8

0.8

0.7

0.8

    Structures-Depreciation

-0.4

-0.4

-0.3

-0.3

-0.3

    Tools & Equipments

6.7

5.6

4.8

3.7

3.4

    Tools & Equipments-Depreciation

-4.8

-4.0

-3.6

-2.7

-3.0

    Machinery & Equipment

22.2

22.0

20.8

16.8

19.4

    Machinery & Equipment-Depreciation

-17.1

-15.4

-17.4

-14.6

-17.8

    Vehicles & Transportation Equipment

0.4

0.5

0.5

0.5

0.7

    Vehicles & Transportation-Depreciation

-0.3

-0.4

-0.4

-0.4

-0.6

    Construction in Progress

6.9

2.0

4.4

0.2

0.1

    Laboratory Equipment

4.9

4.7

3.8

3.1

3.7

    Accumulated Depreciation for Laboratory

-4.0

-3.5

-3.2

-2.6

-2.9

    Experimental Equip.-Government Subsidy

-

-

-0.1

-0.1

-0.2

    Government Subsidy, Total

-0.7

-0.7

-

-

-

    Government Subsidy-Depreciation

0.5

0.4

-

-

-

    Industrial Property Right

0.0

0.0

0.0

0.1

0.1

    Usage Right-Facility

2.5

3.2

3.1

2.6

2.4

    Other Intangible Assets

0.5

0.5

0.3

-

-

    Deferred Income Taxes Assets Non-current

1.1

0.2

0.1

-

-

    Adjustment for Other Non-Current Financi

0.0

0.0

-

-

-

    Adjustment for Property, Plant & Equipme

0.0

0.0

-

-

-

    Adjustment for Intangible Assets

0.0

0.0

-

-

-

Total Assets

157.2

137.9

111.9

92.3

110.5

 

 

 

 

 

 

    Trade Payable

9.2

8.1

5.1

3.4

2.6

    Other Payables

12.4

8.9

7.1

5.9

4.0

    Income Taxes Payable

3.5

3.7

2.0

2.5

3.7

    VAT Withheld

1.1

0.7

0.2

0.1

0.5

    Accrued Expense

1.1

1.2

0.3

0.3

0.0

    Advance from Customers

0.1

0.1

0.0

0.1

0.0

    Unearned Income

0.1

0.2

0.1

0.1

0.0

    Security Deposit-Lease

-

-

0.1

0.4

0.5

    Security Deposit Withheld

-

-

1.5

1.1

1.5

    Deposit Withheld

0.7

0.6

0.4

0.3

0.4

    ST Borrowings

4.6

2.8

3.8

2.3

2.0

    Current Portion of LT Debt

0.4

0.4

0.4

0.4

0.6

    Derivatives in Liabilities, Current

0.8

0.0

-

2.3

0.2

    Adjustment for Other Current Payables

0.0

0.0

-

-

-

    Adjustment for Current Portion of Long-t

0.0

0.0

-

-

-

    Adjustment for Other Current Liabilities

0.0

0.0

-

-

-

Total Current Liabilities

34.0

26.8

21.1

19.2

16.0

 

 

 

 

 

 

    LT Borrowings

-

0.4

0.9

1.2

2.1

Total Long Term Debt

-

0.4

0.9

1.2

2.1

 

 

 

 

 

 

    Non-Current Other Payables

0.6

0.7

0.4

0.2

0.2

    Deferred Income Tax, Credit

-

-

-

0.0

0.9

    Reserve-Sales Return

-

-

1.6

1.2

1.4

    Non-Current Provisions

2.7

2.2

-

-

-

    Provisions for Retirement and Severance

4.7

3.5

8.0

2.2

2.8

    Deposits for Retirement and Severance Be

-

-

-5.6

-

-

    Transfer to National Pension Fund

-

-

0.0

-

-

    Rental Guarantee Deposits, Non-Current L

0.1

0.1

-

-

-

    Guarantee Deposits Withholdings, Non-Cur

1.4

1.6

-

-

-

    Adjustment for Other Non-Current Payable

0.0

0.0

-

-

-

Total Liabilities

43.5

35.3

26.3

24.0

23.5

 

 

 

 

 

 

    Common Stock

19.3

19.6

19.1

13.6

18.3

    Paid-in Capital in Excess of Par

13.7

13.9

13.6

16.6

22.4

    Other Capital Surplus

-

-

1.1

0.7

0.9

    Reserve-Corporation Development

-

-

2.3

2.1

2.9

    Reserve-Research & Development

-

-

2.8

3.5

5.4

    Reserve-Startup Investment

-

-

-

0.1

0.4

    Legal Reserve

-

-

2.4

2.0

2.4

    Reserve-Business Rationalization

-

-

4.8

4.4

5.9

    Reserve-Financial Restructuring

-

-

0.0

0.0

0.0

    Retained Earning Carried Forward

-

-

39.7

27.8

28.7

    Gain-Valu. of Sec. Available for Sale

-

-

0.0

0.1

0.1

    Loss-Valu. of Sec. Available for Sale

-0.2

-0.1

-0.6

-1.0

-0.4

    Treasury Stock

-0.8

-0.8

-0.2

-1.1

-

    Revaluation Surplus

0.8

0.8

-

-

-

    Loss-Valuation of Derivatives

-

-

-

-0.4

-

    Gains on Valuation of Derivatives Cash F

-

-

0.6

-

-

    Gain/Losses on Valuation of Derivatives

-0.6

0.1

-

-

-

    Gain/Loss on Disposal of Treasury Stock

0.3

0.3

-

-

-

    Retained Earnings or Accumulated Deficit

81.2

68.8

-

-

-

    Adjustment for Capital Stock

0.0

0.0

-

-

-

    Adjustment for Other Capital Items

0.0

0.0

-

-

-

Total Equity

113.8

102.6

85.6

68.3

87.1

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

157.2

137.9

111.9

92.3

110.5

 

 

 

 

 

 

    S/O-Common Stock

8.8

8.8

8.9

8.7

8.9

Total Common Shares Outstanding

8.8

8.8

8.9

8.7

8.9

T/S-Common Stock

0.1

0.1

0.0

0.1

0.0

Deferred Revenue, Current

0.2

0.3

0.2

0.2

0.0

Accumulated Intangible Amort, Suppl.

0.3

0.2

-

-

-

Full-Time Employees

485

431

422

414

365

Number of Common Shareholders

-

1,967

2,167

2,038

2,889

Long Term Debt Maturing within 1 Year

0.4

-

0.4

0.4

0.6

Long Term Debt Maturing in Year 2

-

-

0.4

0.4

0.5

Long Term Debt Maturing in Year 3

-

-

-

0.4

0.5

Long Term Debt Maturing in Year 4

-

-

-

0.4

0.5

Long Term Debt Maturing in Year 5

-

-

-

-

0.5

Total Long Term Debt, Supplemental

0.4

-

0.9

1.6

2.7

 

 

Interim Balance Sheet

As Reported

 

Financials in: USD (mil) 

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

 

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1138.093549

1152

1178.05

1067.65

1096.95

 

 

 

 

 

 

    Cash and CashEquivalents

6.4

7.8

8.6

7.5

9.4

    ST Financial Assets

-

-

-

3.0

-

    Current Financial Deposit

19.2

18.9

18.5

20.4

-

    Other Financial Instruments

-

-

-

-

21.3

    Current Derivative Assets

0.3

-

0.1

0.8

-

    Current Securities Held-to-Maturities

0.9

0.9

-

-

-

    Financial Assets at Fair Value Through P

3.3

0.7

-

-

-

    Allowance for Other Financial Assets

-

-

-

-

-

    ST Loan

1.0

1.0

1.0

1.1

-

    Allowance for Doubtful Accounts for Shor

-0.3

-0.3

-0.3

-0.3

-

    Trade Receivable, Gross

63.2

63.6

60.9

59.7

54.9

    Allowance for Doubtful Accounts

-3.1

-3.0

-2.4

-2.0

-2.0

    Adjsutment for Trade Receivables

0.0

-

0.0

0.0

-

    Other Receivable

0.3

0.2

0.2

0.4

0.5

    Allowance for Other Receivables

0.0

0.0

0.0

0.0

-

    Adjustment for Other Receivables

0.0

0.0

0.0

0.0

-

    Adjustment for Other Current Assets

0.0

-

0.0

0.0

-

    Prepaid Expense

0.4

0.1

0.1

0.2

0.3

    Advanced Payment

0.2

0.2

0.3

0.1

0.1

    Accrued Income

0.4

0.4

0.3

0.2

0.2

    Merchandises

2.6

1.1

1.1

2.4

2.0

    Allowance for Loss on Valuation of Merch

-0.4

-0.5

-

-0.6

-

    Finished Goods

7.4

6.5

5.3

7.4

6.8

    Allowance for Loss on Valuation of Finis

-0.9

-0.8

-

-0.9

-

    Goods in Transit

0.2

0.2

0.1

0.2

0.2

    Allowance for Loss on Valuation of Goods

-

-

-

0.0

-

    Raw Materials

6.8

6.3

6.4

7.2

7.1

    Allowance for Loss on Valuation of Raw M

-0.3

-0.2

-

-0.1

-

    Works in Process

7.0

4.8

3.7

5.1

4.4

    Allowance for Loss on Valuation of Works

-0.7

-0.7

-

-0.3

-

    Supplies

1.9

1.7

1.3

1.2

1.1

    Allowance for Loss on Valuation of Suppl

0.0

0.0

-

0.0

-

    Allowance for Loss on Valuation of Other

0.0

0.0

-

-

-

    Adjustment for Inventory

0.0

0.0

0.0

-

-

    Adjustment for Other Financial Instrumen

0.0

-

-

-

-

Total Current Assets

115.6

108.8

105.1

112.6

106.4

 

 

 

 

 

 

    LT Financial Assets

-

-

-

1.8

-

    Long-term Financial Deposit

0.3

0.3

0.2

0.2

-

    Other Non-Current Financial Assets

-

-

-

-

4.0

    Securities Available for Sale

-

-

-

1.1

-

    Securities Held to Maturities

0.4

0.4

1.3

1.4

-

    LT Available-for-Sale Financial Assets

0.9

0.9

1.0

-

-

    Financial Assets at Fair Value Through P

1.5

1.5

1.2

-

-

    Deposits Provided

1.9

1.8

1.6

1.8

1.7

    Adjustment for Other Financial Assets

0.0

0.0

0.0

0.0

-

    Land

8.1

8.0

7.9

8.5

7.8

    Buildings

15.6

14.1

13.8

15.2

14.0

    Buildings-Depreciation

-3.8

-3.7

-3.4

-3.7

-3.4

    Attachment to Buildings

7.2

5.5

5.4

5.6

4.7

    Attachments-Depreciation

-0.7

-0.6

-0.6

-0.6

-0.5

    Structures

1.1

0.8

0.8

0.8

0.8

    Structures-Depreciation

-0.5

-0.4

-0.4

-0.4

-0.4

    Tools & Equipments & Fixtures

7.1

6.7

6.5

7.1

5.9

    Tools & Equipments-Depreciation

-5.1

-4.8

-4.4

-4.6

-4.3

    Machinery & Equipment

23.7

22.2

21.7

24.0

23.3

    Machinery & Equipment-Depreciation

-17.8

-17.1

-16.3

-17.5

-16.5

    Vehicles & Transportation Equipment

0.4

0.4

0.4

0.5

0.6

    Vehicles & Transportation-Depreciation

-0.3

-0.3

-0.3

-0.3

-0.4

    Construction in Progress

3.4

6.9

5.0

3.7

3.4

    Laboratory Equipment

5.1

4.9

4.8

5.2

5.0

    Laboratory Equipment-Depreciation

-4.2

-4.0

-3.8

-4.1

-3.8

    Government Subsidy, Total

-0.8

-0.7

-0.7

-0.8

-0.7

    Government Subsidy-Depreciation

0.5

0.5

0.5

0.5

0.4

    Adjustment for Tangible Assets

0.0

0.0

0.0

-

-

    Membership Right

-

-

-

-

3.3

    Investment in Properties

0.9

0.9

0.9

1.0

1.0

    Industrial Property Right

0.0

0.0

0.0

0.0

0.0

    Other Intangible Assets

0.5

0.5

0.5

0.5

0.5

    Usufruct

2.5

2.5

3.0

3.3

-

    Deferred Income Taxes Assets Non-current

1.1

1.1

0.9

0.8

0.4

    Adjustment for Intangible Assets

0.0

0.0

0.0

0.0

-

Total Assets

164.8

157.2

152.5

164.0

153.4

 

 

 

 

 

 

    Trade Payable

9.3

9.2

9.5

10.4

8.6

    Other Payables

12.1

12.4

12.7

12.9

12.6

    Dividend Payables

2.9

-

-

-

-

    Income Taxes Payable

4.9

3.5

2.4

3.7

-

    VAT Withheld

1.0

1.1

1.2

0.9

1.1

    Accrued Expense

0.8

1.1

1.0

1.0

0.8

    Advances Received

0.1

0.1

0.3

0.2

0.1

    Unearned Income

0.2

0.1

0.2

0.2

-

    Adjustment for Other Current Liabilities

0.0

0.0

0.0

-

-

    Security Deposit Withheld

-

-

1.4

1.6

1.6

    Reserve for Bonuses

0.5

-

0.5

-

-

    Deposit Withheld

0.5

0.7

0.4

1.5

0.3

    Adjustment for Other Current Payables

0.0

0.0

-

0.0

-

    ST Borrowings

5.0

4.6

6.9

7.9

3.9

    Current Portion of LT Debt

-

0.4

0.4

-

-

    Reserve for Current Liabilities

-

-

-

-

2.2

    Current Derivatives Liabilities

0.2

0.8

1.3

-

-

    Other Current Liabilities

-

-

-

-

7.9

    Adjustment for ST Borrowings

-

0.0

0.0

-

-

Total Current Liabilities

37.6

34.0

38.2

40.3

39.2

 

 

 

 

 

 

    LT Borrowings

-

-

-

0.2

0.2

Total Long Term Debt

-

-

-

0.2

0.2

 

 

 

 

 

 

    Other Non-current Payables

0.6

0.6

0.6

0.6

0.5

    Security Deposit-Lease

0.1

0.1

0.1

0.1

0.1

    Guarantee Deposits Withholdings, Non-Cur

1.5

1.4

-

-

-

    Adjustment for Other LT Payable

0.0

0.0

0.0

0.0

-

    Reserve-Sales Return

-

2.7

-

-

-

    LT Provisions

2.9

-

2.6

2.4

-

    LT Defined Benefit Liabilities

4.6

4.7

2.7

-

4.1

    Present Value of Defined Benefit Obligat

-

-

-

11.5

-

    Plan Assets

-

-

-

-6.9

-

    Adjustment for Defined Benefit Obligatio

-

-

-

0.0

-

Total Liabilities

47.3

43.5

44.3

48.3

44.1

 

 

 

 

 

 

    Common Stock

19.5

19.3

18.9

35.6

34.7

    Adjustment for Capital Stock

0.0

0.0

0.0

-

-

    Paid-in Capital in Excess of Par

13.9

13.7

13.4

-

-

    Retained Earnings, Total

83.8

81.2

76.7

-

-

    Legal Reserve

-

-

-

3.2

3.1

    Retained Earning Carried Forward

-

-

-

67.8

62.5

    Appropriated Retained Earnings for Other

-

-

-

-

5.1

    Appropriated Retained Earnings for Volun

-

-

-

8.4

3.1

    Adjustment for Retained Earnings

-

-

-

0.0

-

    Gain-Valu. of Sec. Available for Sale

-

-

-

-0.1

-

    Gains on Valuation of Derivatives Cash F

-

-

-

0.6

-

    Gains/Losses on Valuation of Available f

-0.1

-0.2

-0.1

-

-

    Gains/Loss-Valuation of Derivatives

0.1

-0.6

-0.9

-

-

    Revaluation Surplus

0.8

0.8

-

-

-

    Treasury Stock

-0.8

-0.8

-0.8

-0.9

-

    Gains/Losses on Sale of Treasury Stock

0.3

0.3

1.1

1.2

-

    Other Capital Items

-

-

-

-

0.9

    Adjustment for Other Capital

0.0

0.0

0.0

-

-

Total Equity

117.5

113.8

108.3

115.7

109.3

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

164.8

157.2

152.5

164.0

153.4

 

 

 

 

 

 

    S/O-Common Stock

8.8

8.8

8.8

8.8

8.8

Total Common Shares Outstanding

8.8

8.8

8.8

8.8

8.8

T/S-Common Stock

0.1

0.1

0.1

0.1

0.1

Accumulated Intangible Amort, Suppl.

0.3

0.3

0.2

-

-

Deferred Revenue, Current

0.3

0.2

0.5

0.3

0.1

Full-Time Employees

499

485

483

496

474

Long Term Debt Maturing within 1 Year

-

0.4

0.4

0.5

0.5

Long Term Debt Maturing in Year 2

-

-

-

0.2

0.2

Total Long Term Debt, Supplemental

-

0.4

0.4

0.7

0.7

 

 

 

Annual Cash Flows

As Reported

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Reclassified Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

KPMG LLP

KPMG LLP

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

18.2

15.0

10.1

9.2

11.1

    Depreciation

4.2

3.6

3.0

3.1

2.7

    Amortization-Intangible Assets

0.1

0.1

0.0

0.0

0.0

    Expenses of Allowance for Doubtful Accou

1.5

1.2

1.0

-

0.4

    Expenses of Allowance for Other Doubtful

-

0.2

0.1

-

-

    Retirement and Severance Benefits

1.9

1.8

1.7

1.8

2.1

    Depreciation of Investment Properties

0.0

0.0

-

-

-

    Corporate Taxes Expense

5.8

5.3

-

-

-

    Interest Expenses

0.2

0.2

-

-

-

    Interest Income

-1.0

-0.7

-

-

-

    Dividend Income

0.0

0.0

-

-

-

    Loss on Disposal of Financial Assets at

0.6

-

-

-

-

    Loss on Valuation of Financial Assets at

0.2

-

-

-

-

    Loss-Foreign Currency Translation

0.1

0.1

0.1

0.6

0.0

    Loss-Disposal of Trade Receivable

-

-

-

-

0.0

    Loss-Valuation of Inventory

0.9

0.4

0.5

0.1

0.5

    Loss-Scraping of Inventory

-

-

0.7

0.8

0.8

    Loss on Disposal of Financial Assets Hel

0.0

0.0

-

-

-

    Loss on Derivatives Transaction

0.1

-

0.9

1.2

0.0

    Loss on Valuation of Derivative Financia

0.0

0.0

-

2.0

0.2

    Loss-Reduct. of Sec. Available-for-Sale

-

-

-

-

0.2

    Loss on Disposal of Financial Assets Ava

0.1

0.4

-

-

-

    Loss-Valu. of Sec. Available-for-Sale

-

-

0.0

0.0

0.1

    Recovery-Provision Doubtful Account

-

-

-

-0.4

-

    Gain on Valuation of Financial Assets at

0.0

-

-

-

-

    Gain on Disposal of Financial Assets at

0.0

-0.1

-

-

-

    Gain-Valuation of Inventory

-0.1

0.0

0.0

-0.3

-0.3

    Loss on Disposal of Intangible Assets

0.0

-

-

-

-

    Impairment Loss on Intangible Assets

0.6

-

-

-

-

    Gains on Valuations of Derivatives Asset

0.0

0.0

-

-

0.0

    Gain-Derivatives Transaction

-0.7

-0.9

-

-

0.0

    Gain on Disposal of Financial Assets Ava

-0.6

-0.1

-0.3

-0.2

-0.2

    Recovery-Sec. Avail-for-Sale Reduction

-

-

-0.1

0.0

-

    Gain-Disposal of Tangible Assets

0.0

0.0

0.0

0.0

0.0

    Government Subsidy

-0.9

-0.6

-0.3

-0.1

-0.2

    Gain-Foreign Currency Translation

-0.1

-0.1

-0.1

-0.1

0.0

    Trade Receivable

-12.2

-12.2

-5.5

-7.7

-5.9

    Account Receivable

0.5

-0.6

0.1

0.0

0.1

    Prepaid Expense

0.0

0.0

0.1

-0.1

0.0

    Advanced Payment

0.0

0.0

0.0

0.0

-0.1

    Accrued Income

-

-

0.2

0.1

-0.3

    Inventory

-0.6

-2.3

-1.1

-5.5

-2.3

    Deferred Income Tax Debit, Current

-

-

0.1

-0.5

-0.2

    Deferred Income Tax Debit, Non-Current

-

-

-0.1

-

-

    Deferred Income Tax Credit, Non-Current

-

-

-0.1

-0.6

-0.6

    Deferred Income Taxes Liabilities

-

0.0

-

-

-

    Trade Payable

1.2

1.1

1.2

1.7

-0.2

    Account Payable

3.8

1.6

0.6

3.4

-0.7

    Non-Current Other Payables

-0.4

0.0

-

-

-

    Lease Guarantee Deposit

-

-

-0.3

0.0

0.0

    Advance Received

0.0

0.1

-0.1

0.1

0.0

    Unearned Income

-0.1

-0.1

-

-

-

    Deposit Withheld

0.1

0.0

0.0

0.1

0.0

    Security Deposit Withheld

-0.1

0.1

0.2

0.0

0.1

    Accrued Expense

-0.1

0.2

0.0

0.3

-0.1

    Accrued Income Taxes

-

-

-0.7

-0.4

2.1

    VAT Withheld

0.4

0.5

0.1

-0.3

-0.3

    LT Account Payable

-

-

-

-

0.1

    Derivatives in Liabilities

-

-

-2.6

-1.2

-

    Derivative Assets

-

0.9

-

-

0.0

    Reserve-Sales Guarantee

0.6

-0.1

0.2

0.2

0.7

    Payment-Retirement Bonus

-0.3

-0.4

-1.3

-1.4

-1.1

    Deposit-Retirement Insurance

-

-

-0.2

-0.5

-0.9

    Plan Assets

-2.0

-1.2

-

-

-

    Reserve-National Pension

-

-

0.0

0.0

0.0

    Losses on Sale of Property, Plant and Eq

0.0

0.0

0.0

-

-

    Adjustment for Operating Activities

0.0

0.0

-

-

-

    Adj. for Operating Assets & Liabilities

-

0.0

-

-

-

    Cash-Tax Paid

-6.2

-4.1

-

-

-

Cash from Operating Activities

15.4

9.2

8.2

5.2

7.8

 

 

 

 

 

 

    Decrease-ST Loans

0.0

0.2

0.3

0.4

0.2

    Decrease-Guarantee Deposit

-

0.2

0.3

0.2

0.0

    Disposal of Derivative Assets

0.7

-

-

-

-

    Decrease-ST Financial Assets

24.4

49.7

29.8

16.9

12.9

    Decrease-LT Financial Assets

-

-

-

-

0.1

    Disposal of ST Financial Assets at Fair

2.1

-

-

-

-

    Disposal of LT Financial Assets at Fair

0.9

2.2

-

-

-

    Disposal-Securities Available-for-Sale

1.8

2.9

9.7

5.3

5.5

    Disposal of Financial Assets Held to Mat

-

0.1

-

-

0.0

    Decrease-Other Investment Assets

-

0.1

0.0

0.0

0.1

    Disposal of Property, Plant and Equipmen

0.0

0.0

-

-

-

    Disposal-Buildings

-

-

-

-

0.0

    Proceeds from Sale of Machinery

-

-

0.0

-

0.0

    Disposal-Transportation

-

-

0.0

0.0

0.0

    Proceeds from Sale of Office Equipment

-

-

0.0

-

-

    Disposal-Experimental Equipment

-

-

-

0.0

-

    Disposal of Intangible Assets

0.3

-

-

-

-

    Increase-ST Loans

-

-

-

-0.5

-2.1

    Increase-Guarantee Deposit

-0.3

-0.4

-0.6

-0.5

-0.4

    Disposal of Derivatives in Liabilities

-0.1

-

-

-

-

    Increase-ST Financial Assets

-26.3

-48.8

-31.6

-17.8

-25.7

    Increase-LT Financial Assets

-0.2

-0.1

-0.1

-0.1

-0.1

    Purchase of ST Financial Assets at Fair

-3.5

-

-

-

-

    Purchase of LT Financial Assets at Fair

-2.7

-

-

-

-

    Increase-Securities Available-for-Sale

-0.9

0.0

-7.8

-3.6

-16.1

    Purchase of Financial Assets Held to Mat

-0.9

-0.5

0.0

0.0

0.0

    Increase-Other Investment Assets

-

-

-

-

-0.1

    Purchase of Land

-

-

-0.7

-

0.0

    Increase-Buildings

-

-

-

-0.1

0.0

    Increase-Building Attachments

-

-

-

-

0.0

    Increase-Structure

-

-

-

-0.1

-0.2

    Increase-Tools & Supplies

-

-

-0.7

-1.3

-0.3

    Increase-Machinery & Equipment

-

-

-0.5

-1.7

-0.9

    Increase-Transportation

-

-

-0.1

-0.1

-0.1

    Increase-Experimental Equipments

-

-

-0.1

-0.3

-0.7

    Increase-Construction Progress

-

-

-6.1

-1.5

-0.2

    Purchase of Property, Plant and Equipmen

-10.0

-7.8

-

-

-

    Purchase of Intangible Assets

-0.2

-0.2

-

-

-

    Increase-Special Facility Usage Right

-

-

-0.3

0.0

-0.9

    Purchase of Other Intangible Assets

-

-

-0.4

-

-

    Cash Interest Received

0.7

0.6

-

-

-

    Dividend Received

0.0

0.0

-

-

-

Cash from Investing Activities

-14.1

-1.7

-8.9

-4.5

-29.0

 

 

 

 

 

 

    Increase-ST Borrowings

3.8

2.4

4.2

0.9

2.2

    Increase-Subsidy from Government

1.3

1.1

0.7

0.5

0.4

    Capital Increase

-

-

-

-

27.6

    Decrease-ST Borrowings

-1.8

-4.1

-2.8

-0.4

-4.4

    Dec-Current Portion of LT Liabilities

-0.5

-0.4

-0.4

-0.5

-0.4

    Acquisition-Treasury Stock

-

-0.6

-0.6

-1.3

-

    Decrease in Rental Guarantee Deposits

0.0

-

-

-

-

    Dividends Paid

-3.0

-2.3

-2.0

-2.5

-1.6

    Cash-Interest Paid

-0.2

-0.2

-

-

-

    Increase-Expense for Stock Issuance

-

-

-

-

-1.3

    Proceeds from Sale of Treasury Stock

-

-

2.0

-

-

Cash from Financing Activities

-0.4

-4.2

1.0

-3.4

22.4

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

-

-

-

Net Change in Cash

0.9

3.4

0.3

-2.7

1.3

 

 

 

 

 

 

Net Cash Beginning Balance

7.2

3.5

2.9

6.1

5.9

Net Cash Ending Balance

8.1

6.9

3.2

3.4

7.2

    Cash Interest Paid

0.2

0.2

-

-

-

    Cash Taxes Paid

6.2

4.1

-

-

-

 

 

 

Interim Cash Flows

As Reported

 

Financials in: USD (mil) 

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

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

Period Length

3 Months

12 Months

9 Months

6 Months

3 Months

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1107.891393

1095.603455

1101.856011

1120.28956

 

 

 

 

 

 

Net Income

4.6

18.2

14.2

9.0

5.5

    Depreciation

1.1

4.2

3.2

2.1

1.0

    Amortization-Intangible Assets

0.0

0.1

0.1

0.0

0.0

    Provision-Doubtful Account

0.1

1.5

0.6

0.0

0.0

    Retirement and Severance Benefits

0.6

1.9

1.5

1.0

0.6

    Depreciation of Investment Properties

-

0.0

-

-

-

    Interest Expenses

0.0

0.2

0.1

0.1

0.0

    Corporate Taxes

1.3

5.8

4.8

2.9

1.9

    Dividend Income

0.0

0.0

0.0

0.0

-

    Interest Income

-0.2

-1.0

-0.7

-0.5

-0.2

    Government Subsidy

-0.2

-0.9

-0.8

-

-0.3

    Loss on Disposal of Financial Assets Hel

-

0.0

-

-

-

    Loss on Disposal of Financial Assets at

-

0.6

-

-

-

    Loss on Valuation of Financial Assets at

-

0.2

1.1

-

-

    Loss on Derivatives Transaction

0.1

0.1

-

-

-

    Loss-Valuation of Currency Futures

0.0

0.0

0.2

0.0

-

    Loss-Foreign Currency Translation

0.1

0.1

0.1

0.1

0.2

    Loss on Valuation of LT Financial Assets

0.0

-

-

-

0.1

    Loss-Valuation of Inventory

0.2

0.9

1.0

0.5

0.2

    Loss-Valu. of Sec. Available-for-Sale

-

-

-

0.3

-

    Loss-Reduct. of Sec. Available-for-Sale

-

-

-

0.0

-

    Loss on Disposal of Financial Assets Ava

-

0.1

0.1

0.1

-

    Losses on Sale of Intangible Assets

-

0.0

0.0

0.0

-

    Impairment Loss on Intangible Assets

-

0.6

-

-

-

    Losses on Sale of Property, Plant and Eq

-

0.0

0.0

0.0

0.0

    Gain on Valuation of Current Trading Sec

0.0

-

-

0.0

-

    Recovery-Loss on Valuation of Inventory

-0.1

-0.1

-

-0.1

-0.2

    Gain-Derivatives Transaction

-

-0.7

-0.6

-0.3

-0.1

    Gains on Valuations of Derivatives

0.0

0.0

0.0

-0.1

-0.1

    Gain-Foreign Currency Translation

-0.1

-0.1

-0.4

-0.1

-0.1

    Gain on Disposal of Financial Assets Ava

-

-0.6

-0.6

-0.1

-

    Reversal of Impairment Losses on Availab

-

-

0.0

-

-

    Gain-Disposal of Tangible Assets

-

0.0

0.0

0.0

-

    Gain on Valuation of Financial Assets at

-

0.0

-

-

-

    Gain-Disposal of Financial Assets at Fai

-

0.0

0.0

-

-

    Gain on Disposal of Investment Propertie

0.0

-

-

-

-

    Trade Receivables

1.1

-12.2

-10.5

-3.4

-0.3

    Other Receivables

0.0

0.5

0.5

0.3

-

    LT Other Receivables

-

-

-

-

0.1

    Prepaid Expenses

-0.3

0.0

0.0

0.0

-

    Advanced Payment

0.0

0.0

-0.1

0.1

-

    Inventories

-5.0

-0.6

-0.8

-2.0

-2.3

    Decrease in Derivative Assets

-

-

0.7

0.3

-

    ST Loans

-

-

-

0.0

-

    Other ST Financial Assets

-

-

-

-

0.2

    Cumulative Assets outside Company

-

-

-1.4

-

0.0

    Deferred Income Tax Debit, Current

-

-

-

-0.2

-

    Trade Payables

0.0

1.2

1.8

1.7

0.1

    Other Payables

-0.5

3.8

4.4

3.4

-

    LT Other Payables

-

-0.4

-0.3

-0.1

-

    Unearned Income

-

-0.1

-

0.0

-

    Advances from Customers

0.0

0.0

0.1

0.0

-

    Deposit Withheld

-0.1

0.1

-0.1

1.0

-

    Security Deposit Withheld

0.0

-0.1

-0.1

-0.1

-

    Accrued Expenses

-0.3

-0.1

-0.2

-0.3

-

    VAT Withheld

-0.1

0.4

0.5

0.1

-

    Derivative Liabilities

-0.1

-

-

-

-

    Increase or Decrease in Long-term Provis

-

0.6

0.6

0.1

0.0

    Reserve for Returned Goods

0.2

-

-

-

-

    Reserve for Bonuses

0.5

-

0.5

-

0.4

    Payment-Retirement Bonus

-0.2

-0.3

-0.7

-0.1

-0.2

    Reserve-National Pension

-

-

0.0

0.0

-

    Plan Assets

-0.5

-2.0

-

0.0

-

    Other Current Debt

-

-

-

-

3.0

    Other Non-Current Debt

-

-

-

-

-0.3

    Adjustment for Non-Cash Items

0.0

0.0

0.0

-

-

    Adj. for Operating Assets & Liabilities

0.0

-

0.0

0.0

-

    Cash-Tax Paid

0.0

-6.2

-6.3

-3.6

-1.7

Cash from Operating Activities

2.1

15.4

12.3

12.2

7.7

 

 

 

 

 

 

    Disposal of Derivative Assets

-

0.7

-

-

-

    Disposal of Derivatives in Liabilities

-

-0.1

-

-

-

    Decrease-ST Loans

0.0

0.0

0.1

-

-

    Decrease-Guarantee Deposit

-

-

0.0

-

-

    Decrease-Other Receivables, Non-Current

-

-

-

-

0.0

    Dividend Income

-

0.0

0.0

0.0

-

    Cash Interest Received

0.3

0.7

0.5

0.3

0.2

    Increase in Other Receivables, Non-Curre

-

-

-

-

-0.1

    Increase-ST Loans

-

-

-0.1

-

-

    Increase-Guarantee Deposit

0.0

-0.3

-0.2

-0.1

-

    Decrease-ST Financial Deposit

-

-

20.7

-

-

    Decrease-ST Financial Assets at Fair Val

-

2.1

-

-

-

    Decrease-LT Financial Assets at Fair Val

-

0.9

0.9

-

-

    Decrease-ST Financial Assets

6.9

24.4

-

12.6

-

    Decrease-Other Financial Assets

-

-

-

-

8.5

    Disposal of Other Non-Current Finacial I

0.0

-

-

-

1.1

    Disposal-Securities Available-for-Sale

-

1.8

1.8

1.2

-

    Disposal of Investment Properties

0.1

-

-

-

-

    Decrease-Intangible Assets

-

0.3

0.3

0.3

-

    Disposal-Transportation

-

0.0

0.0

-

0.0

    Proceeds from Sale of Property Plant and

-

-

-

0.0

-

    Increase-ST Financial Deposit

-

-

-22.6

-14.5

-

    Increase-LT Financial Deposit

-

-

-0.2

-0.1

-

    Increase-ST Financial Assets at Fair Val

-

-3.5

-0.7

-

-

    Increase-LT Financial Assets at Fair Val

-2.6

-2.7

-2.7

-

-1.8

    Increase-Financial Assets at Fair Value

-

-

-

-5.0

-

    Increase-ST Financial Assets

-6.9

-26.3

-

-

-

    Increase-LT Financial Assets

-0.1

-0.2

-

-

-

    Increase-Other LT Financial Assets

-

-

-

-

-1.4

    Increase-Other ST Financial Assets

-

-

-

-

-10.2

    Inc-ST Securities Available-for-Sale

-

-0.9

-1.0

-1.0

-

    Purchase of Financial Assets Held to Mat

-

-0.9

-0.9

-0.9

-

    Purchase of Property, Plant and Equipmen

-1.3

-10.0

-8.3

-5.9

-2.6

    Purchase of Intangible Assets

-

-0.2

-0.2

-0.2

-

Cash from Investing Activities

-3.6

-14.1

-12.4

-13.1

-6.3

 

 

 

 

 

 

    Increase-ST Borrowings

3.8

3.8

8.1

4.4

0.6

    Increase-Subsidy from Government

0.3

1.3

1.1

-

0.4

    Decrease-ST Borrowings

-3.7

-1.8

-3.7

-

-

    Dec-Current Portion of LT Liabilities

-0.2

-0.5

-0.5

-0.2

-0.2

    Decrease in Rental Guarantee Deposits

-

0.0

-

-

-

    Dividends Paid

-

-3.0

-3.1

-3.0

-

    Cash-Interest Paid

0.0

-0.2

-0.1

-0.1

0.0

Cash from Financing Activities

0.1

-0.4

2.0

1.0

0.7

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

0.0

0.2

0.0

0.0

Net Change in Cash

-1.5

0.9

2.0

0.0

2.1

 

 

 

 

 

 

Net Cash Beginning Balance

7.9

7.2

7.3

7.3

7.1

Net Cash Ending Balance

6.4

8.1

9.3

7.3

9.2

    Cash Interest Paid

0.0

0.2

0.1

0.1

0.0

    Cash Taxes Paid

0.0

6.2

6.3

3.6

1.7

 

 

 

Geographic Segments

 

Financials in: As Reported (mil)

Annual             

           

            

 

External Revenue   USD (mil)

 

31-Dec-11

31-Dec-10

South Korea

111.5

77 %

93.9

76.7 %

Foreign

33.2

23 %

28.5

23.3 %

Segment Total

144.7

100 %

122.4

100 %

Consolidated Total

144.7

100 %

122.4

100 %

Exchange Rate: KRW to USD

1,107.891393

 

1,156.281981

 

Total Revenue   USD (mil)

 

31-Dec-11

31-Dec-10

South Korea

111.5

77 %

93.9

76.7 %

Foreign

33.2

23 %

28.5

23.3 %

Segment Total

144.7

100 %

122.4

100 %

Consolidated Total

144.7

100 %

122.4

100 %

Exchange Rate: KRW to USD

1,107.891393

 

1,156.281981

 

 

 

Geographic Segments

 

Financials in: As Reported (mil)

 

        Interim     

        

 

External Revenue   USD (mil)

 

31-Mar-12

31-Mar-11

South Korea

27.3

82.3 %

26.5

82.2 %

Foreign

5.9

17.7 %

5.8

17.8 %

Segment Total

33.2

100 %

32.2

100 %

Consolidated Total

33.2

100 %

32.2

100 %

Exchange Rate: KRW to USD

1,131.034971

 

1,120.289560

 

Total Revenue   USD (mil)

 

31-Mar-12

31-Mar-11

South Korea

27.3

82.3 %

26.5

82.2 %

Foreign

5.9

17.7 %

5.8

17.8 %

Segment Total

33.2

100 %

32.2

100 %

Consolidated Total

33.2

100 %

32.2

100 %

Exchange Rate: KRW to USD

1,131.034971

 

1,120.289560

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.78

UK Pound

1

Rs.86.75

Euro

1

Rs.68.32

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.