MIRA INFORM REPORT

 

 

Report Date :

11.08.2012

 

IDENTIFICATION DETAILS

 

Name :

AUSTEM CO., LTD.

 

 

Formerly Known As :

Yoon Young

 

 

Registered Office :

462-1, Jangsan-Ri, Susin-Myeon, Dongnam-Gu, Cheonan, 330882 Korea

 

 

Country :

South korea

 

 

Financials (as on) :

31.12.2011(Annual)

31.03.2012 (Interim)

 

 

Date of Incorporation :

07.03.1990

 

 

Legal Form :

Public Parent Company

 

 

Line of Business :

manufacturer of automobile parts and accessories

 

 

No. of Employees :

453

 

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 

 

AUSTEM Co., Ltd.

462-1

Jangsan-Ri, Susin-Myeon, Dongnam-Gu

Cheonan, 330882Korea, Republic of

Tel:       82-41-5592500

Fax:      82-41-5592401

Web:    www.austem.co.kr

           

 

Synthesis

 

Employees:                  453

Company Type:            Public Parent

Corporate Family:          3 Companies

Traded:                         KOSDAQ: 031510

Incorporation Date:         07-Mar-1990

Auditor:                        Sungdoe Accounting Corp.        

Financials in:                 USD (Millions)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       South Korean Won

Annual Sales:               195.7  1

Net Income:                   9.6

Total Assets:                250.6  2

Market Value:               45.4 (27-Jul-2012)

 

 

Business Description     

 

AUSTEM CO., LTD is a Korea-based company engaged in the manufacture of automobile parts and accessories. The Company’s products consist of steel wheels; body components, including longitudinal assemblies, frame assemblies, side panels, floor panels and high roofs; chassis components and modules, including cross member assemblies, control arm assemblies, front suspension modules and rear suspension modules, and seat mechanisms, including manual seat recliners, manual seat guide rails and seat mechanism assemblies. It also provides molding product, filters and others. On January 31, 2011, the Company established a joint venture, O'zauto-austem, mainly engaged in the manufacturing of automobile parts. For the fiscal year ended 31 December 2010, AUSTEM Co., Ltd.'s total revenues increased 46% to W184.42B. The Company's net income totaled W14.89B, up from W4.24B. Revenues reflect increased domestic and foreign demand for CHASSIS components and SEAT. Net income also benefited from the inclusion of gain under equity method, increased gain on foreign currency transaction and decreased interest expenses.

Industry             

Industry            Auto and Truck Parts

ANZSIC 2006:    231 - Motor Vehicle and Motor Vehicle Part Manufacturing

NACE 2002:      3410 - Manufacture of motor vehicles

NAICS 2002:     33635 - Motor Vehicle Transmission and Power Train Parts Manufacturing

UK SIC 2003:    3410 - Manufacture of motor vehicles

US SIC 1987:    3714 - Motor Vehicle Parts and Accessories

 

           

Key Executives   

 

Name

Title

Jeong Wu Kim

Chief Executive Officer, Director

Han Gyeong Kim

Internal Auditor

Gwang Ryun Oh

IR Contact Officer

Jung Woo Kim

President & Chief Executive Officer

Sang Duhk Kim

Managing Director

 

 

 Significant Developments  

 

Topic

#*

Most Recent Headline

Date

Business Deals

2

AUSTEM Co., Ltd. Signs Contract with GM EUROPE GmbH

1-Dec-2011

Dividends

1

AUSTEM Co., Ltd. Declares Annual Cash Dividend for FY 2011

24-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)

1.09

1.97

Quick Ratio (MRQ)

0.87

1.25

Debt to Equity (MRQ)

1.34

0.52

Sales 5 Year Growth

8.91

-0.73

Net Profit Margin (TTM) %

4.33

5.15

Return on Assets (TTM) %

3.94

7.12

Return on Equity (TTM) %

11.79

22.22

 

 

Stock Snapshot    

 

 

Traded: KOSDAQ: 031510

 

As of 27-Jul-2012

   Financials in: KRW

Recent Price

2,000.00

 

EPS

412.27

52 Week High

3,500.00

 

Price/Sales

0.24

52 Week Low

1,940.00

 

Dividend Rate

80.00

Avg. Volume (mil)

0.32

 

Price/Earnings

6.20

Market Value (mil)

52,000.00

 

Price/Book

0.55

 

 

 

Beta

1.17

 

Price % Change

Rel S&P 500%

4 Week

-6.98%

-5.72%

13 Week

-15.25%

-8.48%

52 Week

-41.00%

-30.47%

Year to Date

-14.71%

-14.87%

 

 

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

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

 

 

Corporate Overview

 

Location

462-1

Jangsan-Ri, Susin-Myeon, Dongnam-Gu

Cheonan, 330882

Korea, Republic of

Tel:       82-41-5592500

Fax:      82-41-5592401

Web:    www.austem.co.kr

           

Quote Symbol - Exchange

031510 - KOSDAQ

Sales KRW(mil):            216,802.5

Assets KRW(mil):          288,732.3

Employees:                   453

Fiscal Year End:            31-Dec-2011

Industry:                        Auto and Truck Parts

Incorporation Date:         07-Mar-1990

Company Type:             Public Parent

Quoted Status:              Quoted

Previous Name:             Yoon Young

Chief Executive Officer,

 Director:                       Jeong Wu Kim

 

Industry Codes

 

ANZSIC 2006 Codes:

231       -          Motor Vehicle and Motor Vehicle Part Manufacturing

1334     -          Textile Finishing and Other Textile Product Manufacturing

2110     -          Iron Smelting and Steel Manufacturing

 

NACE 2002 Codes:

1754     -          Manufacture of other textiles not elsewhere classified

2710     -          Manufacture of basic iron and steel and of ferro-alloys

3410     -          Manufacture of motor vehicles

 

NAICS 2002 Codes:

315999  -          Other Apparel Accessories and Other Apparel Manufacturing

33635   -          Motor Vehicle Transmission and Power Train Parts Manufacturing

331111  -          Iron and Steel Mills

 

US SIC 1987:

3714     -          Motor Vehicle Parts and Accessories

2396     -          Automotive Trimmings, Apparel Findings, and Related Products

3312     -          Steel Works, Blast Furnaces (Including Coke Ovens), and Rolling Mills

 

UK SIC 2003:

3410     -          Manufacture of motor vehicles

2710     -          Manufacture of basic iron and steel and of ferro-alloys

1754     -          Manufacture of other textiles not elsewhere classified

 

Business Description

AUSTEM CO., LTD is a Korea-based company engaged in the manufacture of automobile parts and accessories. The Company’s products consist of steel wheels; body components, including longitudinal assemblies, frame assemblies, side panels, floor panels and high roofs; chassis components and modules, including cross member assemblies, control arm assemblies, front suspension modules and rear suspension modules, and seat mechanisms, including manual seat recliners, manual seat guide rails and seat mechanism assemblies. It also provides molding product, filters and others. On January 31, 2011, the Company established a joint venture, O'zauto-austem, mainly engaged in the manufacturing of automobile parts. For the fiscal year ended 31 December 2010, AUSTEM Co., Ltd.'s total revenues increased 46% to W184.42B. The Company's net income totaled W14.89B, up from W4.24B. Revenues reflect increased domestic and foreign demand for CHASSIS components and SEAT. Net income also benefited from the inclusion of gain under equity method, increased gain on foreign currency transaction and decreased interest expenses.

 

More Business Descriptions

·         Manufacture of body parts, wheel disks and automobile seats

Other Motor Vehicle Parts Manufacturing

 

Financial Data

Financials in:

KRW(mil)

 

Revenue:

216,802.5

Net Income:

10,644.6

Assets:

288,732.3

Long Term Debt:

62,388.1

 

Total Liabilities:

202,577.0

 

Working Capital:

-7.6

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

17.4%

-28.9%

44.5%

Market Data

Quote Symbol:

031510

Exchange:

KOSDAQ

Currency:

KRW

Stock Price:

2,000.0

Stock Price Date:

07-27-2012

52 Week Price Change %:

-41.0

Market Value (mil):

52,000,000.0

 

SEDOL:

6568795

ISIN:

KR7031510001

 

Equity and Dept Distribution:

11/2005, Rights Issue, 0.349 new shares for every 1 share held @ KRW 1155. 2/2003, 10-for-1 stock split. FY'98-'05, financials reflect non-consolidated numbers. 03/05, company changed the name from Yoonyoung. FY'06-'09, financials are consolidated.

 

 

Key Corporate Relationships

Auditor:

Sungdoe Accounting Corp.

 

Auditor:

Sungdoe Accounting Corp.

 

 

 

 

 

 

 

 

 

 

Corporate Family

Corporate Structure News:

 

AUSTEM Co., Ltd.

AUSTEM Co., Ltd. 
Total Corporate Family Members: 3 

 

Company Name

Company Type

Location

Country

Industry

Sales
(USD mil)

Employees

 

AUSTEM Co., Ltd.

Parent

Cheonan

Korea, Republic of

Auto and Truck Parts

195.7

453

 

Acm Co., Ltd.

Subsidiary

Inchon, Inchon

Korea, Republic of

Auto and Truck Parts

 

120

 

Seatek Co., Ltd.

Subsidiary

Yongi, Chungchongnam-Do

Korea, Republic of

Nonclassifiable Industries

8.0

35

 

 

 

Executive report

 

Board of Directors

 

Name

Title

Function

 

Oh Bong Gwon

 

Assistant Managing Director

Director/Board Member

 

Age: 55

 

Jeong Wu Kim

 

Chief Executive Officer, Director

Director/Board Member

 

 

Biography:

Kim Jeong Wu has been Chief Executive Officer and Director of AUSTEM Co., Ltd. Kim is currently Director of ACM CO., LTD. Prior to joining the Company, Kim worked for Daewoo Motor Co., Ltd.and National Tax Office of Korea. Kim holds a Bachelor's degree from Seoul National University, Korea.

 

Age: 63

 

Education:

Seoul National University, B 

 

Dong Rim Lee

 

Non-Executive Independent Director

Director/Board Member

 

 

Biography:

Lee Dong Rim has been Non-Executive Independent Director of AUSTEM Co., Ltd since March 24, 2005. Prior to joining the Company, Lee worked for Daewoo Capital Corporation. Lee holds a Bachelor's degree from Korea University, Korea.

 

Age: 60

 

Education:

Korea University, B (Industrial Engineering)

 

Myeong Won Park

 

Vice President, Director

Director/Board Member

 

 

Biography:

Park Myeong Won is Vice President and Director of AUSTEM Co., Ltd. Park is currently Chief Executive Officer of ACM CO., LTD. Park previously was with daewoo motor co., ltd. Park holds a Bachelor's degree from Korea University.

 

Age: 61

 

Education:

Korea University, B 

 

 

 

 

Executives

 

Name

Title

Function

 

Jeong Wu Kim

 

Chief Executive Officer, Director

Chief Executive Officer

 

Biography:

Kim Jeong Wu has been Chief Executive Officer and Director of AUSTEM Co., Ltd. Kim is currently Director of ACM CO., LTD. Prior to joining the Company, Kim worked for Daewoo Motor Co., Ltd.and National Tax Office of Korea. Kim holds a Bachelor's degree from Seoul National University, Korea.

 

Age: 63

 

Education:

Seoul National University, B 

 

Jung Woo Kim

 

President & Chief Executive Officer

Chief Executive Officer

 

 

Hong Jeon Baek

 

Assistant Managing Director

Managing Director

 

 

Biography:

Baek Hong Jeon is Assistant Managing Director of AUSTEM Co., Ltd. Prior to joining the Company, Baek worked for Daewoo Motor Co., Ltd.

 

Age: 50

 

Oh Bong Gwon

 

Assistant Managing Director

Managing Director

 

 

Age: 55

 

Sang Deok Kim

 

Managing Director

Managing Director

 

 

Biography:

Kim Sang Deok has been Managing Director of AUSTEM Co., Ltd since December 31, 2006. Kim is currently also Chief Executive Officer at SEATEK Co.,Ltd. Previously, Kim was working for Daewoo Engineering Co.,Ltd.

 

Age: 60

 

Jong Myeong Kim

 

Assistant Managing Director

Managing Director

 

 

Age: 51

 

Sang Duhk Kim

 

Managing Director

Managing Director

 

 

Gwan Bong Yoo

 

Managing Director

Managing Director

 

 

Biography:

Yoo Gwan Bong is Managing Director of AUSTEM Co., Ltd. Yoo used to serve the Company as Assistant Managing Director. Prior to joining the Company, Yoo worked for DAEWOO PRECISION INDUSTRIES CO.,LTD.

 

Age: 51

 

Han Gyeong Kim

 

Internal Auditor

Accounting Executive

 

 

Age: 46

 

K. S. Kim

 

Manager-Recruitment

Human Resources Executive

 

 

Gwang Ryun Oh

 

IR Contact Officer

Other

 

 

 

 

Significant Developments

 

AUSTEM Co., Ltd. Declares Annual Cash Dividend for FY 2011 Feb 24, 2012

 

AUSTEM Co., Ltd. announced that it has declared an annual cash dividend of KRW 80 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 3.2% and the total amount of the cash dividend is KRW 1,896,800,000. The Company's annual cash dividend for the fiscal year 2010 was KRW 100 per share.

 

AUSTEM Co., Ltd. Signs Contract with GM EUROPE GmbH Dec 01, 2011

 

AUSTEM Co., Ltd. announced that it has signed a contract with GM EUROPE GmbH to supply parts for new car model. The contract amount is KRW 50,079,278,701.

 

AUSTEM Co., Ltd. Signs Contract with GM Korea Company and GM THAILAND Nov 30, 2011

 

AUSTEM Co., Ltd. announced that it has signed a contract with GM Korea Company and GM THAILAND to supply parts for new car model. The contract amount is KRW 83,171,860,483.

 

 

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

Reclassified Normal 
31-Dec-2009

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

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

195.7

159.7

91.3

146.9

194.2

Revenue

195.7

159.7

91.3

146.9

194.2

    Other Revenue

-

-

7.3

12.6

3.9

Other Revenue, Total

-

-

7.3

12.6

3.9

Total Revenue

195.7

159.7

98.7

159.5

198.1

 

 

 

 

 

 

    Cost of Revenue

159.6

132.4

83.9

129.4

161.2

Cost of Revenue, Total

159.6

132.4

83.9

129.4

161.2

Gross Profit

36.1

27.4

7.4

17.5

33.0

 

 

 

 

 

 

    Selling/General/Administrative Expense

8.5

6.0

3.6

10.0

11.1

    Labor & Related Expense

7.2

5.5

3.7

4.8

5.5

    Advertising Expense

0.0

0.0

0.0

0.0

0.0

Total Selling/General/Administrative Expenses

15.8

11.5

7.3

14.9

16.6

Research & Development

2.5

1.3

0.8

1.9

1.3

    Depreciation

0.9

0.7

0.6

1.0

1.3

    Amortization of Intangibles

0.3

0.5

0.5

0.7

1.7

Depreciation/Amortization

1.1

1.2

1.1

1.7

3.0

Total Operating Expense

179.0

146.4

93.2

147.9

182.2

 

 

 

 

 

 

Operating Income

16.7

13.3

5.5

11.7

15.9

 

 

 

 

 

 

        Interest Expense - Non-Operating

-4.8

-3.2

-3.2

-4.3

-4.8

    Interest Expense, Net Non-Operating

-4.8

-3.2

-3.2

-4.3

-4.8

        Interest Income - Non-Operating

0.2

0.3

0.4

0.3

0.3

        Investment Income - Non-Operating

-4.2

3.2

-0.5

-3.3

-2.0

    Interest/Investment Income - Non-Operating

-4.1

3.5

-0.1

-3.0

-1.7

    Interest Income (Expense) - Net Non-Operating

0.0

0.0

-

-

-

Interest Income (Expense) - Net Non-Operating Total

-8.8

0.3

-3.3

-7.3

-6.5

Gain (Loss) on Sale of Assets

1.0

0.0

0.3

0.0

0.0

    Other Non-Operating Income (Expense)

4.0

3.1

1.6

0.5

-0.9

Other, Net

4.0

3.1

1.6

0.5

-0.9

Income Before Tax

12.8

16.8

4.2

4.9

8.5

 

 

 

 

 

 

Total Income Tax

3.3

3.9

0.8

1.2

1.1

Income After Tax

9.5

12.9

3.3

3.6

7.4

 

 

 

 

 

 

    Minority Interest

0.1

0.1

-

-

0.0

Net Income Before Extraord Items

9.6

12.9

3.3

3.6

7.4

Net Income

9.6

12.9

3.3

3.6

7.4

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

9.6

12.9

3.3

3.6

7.4

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

9.6

12.9

3.3

3.6

7.4

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

23.8

24.0

24.4

24.8

25.4

Basic EPS Excl Extraord Items

0.40

0.54

0.14

0.15

0.29

Basic/Primary EPS Incl Extraord Items

0.40

0.54

0.14

0.15

0.29

Dilution Adjustment

0.1

0.0

-

0.0

-

Diluted Net Income

9.7

12.9

3.3

3.6

7.4

Diluted Weighted Average Shares

24.0

24.0

24.4

24.8

25.4

Diluted EPS Excl Extraord Items

0.40

0.54

0.14

0.15

0.29

Diluted EPS Incl Extraord Items

0.40

0.54

0.14

0.15

0.29

Dividends per Share - Common Stock Primary Issue

0.07

0.09

0.03

0.02

0.05

Gross Dividends - Common Stock

1.7

2.1

0.8

0.6

1.4

Interest Expense, Supplemental

4.8

3.2

3.2

4.3

4.8

Depreciation, Supplemental

8.1

8.3

8.0

9.2

11.9

Total Special Items

-1.0

0.0

-0.3

0.0

0.0

Normalized Income Before Tax

11.9

16.8

3.9

4.9

8.5

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-0.3

0.0

-0.1

0.0

0.0

Inc Tax Ex Impact of Sp Items

3.0

3.9

0.8

1.2

1.1

Normalized Income After Tax

8.8

12.9

3.1

3.6

7.4

 

 

 

 

 

 

Normalized Inc. Avail to Com.

8.9

12.9

3.1

3.6

7.4

 

 

 

 

 

 

Basic Normalized EPS

0.37

0.54

0.13

0.15

0.29

Diluted Normalized EPS

0.37

0.54

0.13

0.15

0.29

Amort of Acquisition Costs, Supplemental

-

-

0.0

-

-

Amort of Intangibles, Supplemental

0.3

0.5

0.5

0.7

1.7

Rental Expenses

0.0

0.0

0.0

-

0.0

Advertising Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

Research & Development Exp, Supplemental

2.5

1.3

0.8

1.9

1.3

Normalized EBIT

16.7

13.3

5.5

11.7

15.9

Normalized EBITDA

25.0

22.1

14.0

21.7

29.6

 

 

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

Restated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

0.8

6.9

1.7

9.1

4.5

    Short Term Investments

0.3

0.7

0.2

0.1

0.0

Cash and Short Term Investments

1.1

7.6

1.9

9.3

4.6

        Accounts Receivable - Trade, Gross

90.2

59.9

34.2

26.4

29.9

        Provision for Doubtful Accounts

-0.1

-0.7

-0.8

-1.2

-0.4

    Trade Accounts Receivable - Net

90.3

59.4

33.6

25.4

29.7

    Other Receivables

1.6

1.2

0.3

2.1

1.0

Total Receivables, Net

92.0

60.6

33.9

27.6

30.7

    Inventories - Finished Goods

2.5

2.3

1.9

1.1

2.4

    Inventories - Work In Progress

1.7

0.5

0.4

0.2

0.4

    Inventories - Raw Materials

12.9

3.8

0.8

1.1

1.9

    Inventories - Other

7.7

4.3

6.9

6.0

4.9

Total Inventory

24.7

10.8

9.9

8.5

9.6

Prepaid Expenses

3.4

2.3

1.8

1.1

2.9

    Other Current Assets

0.0

0.0

-

0.0

-

Other Current Assets, Total

0.0

0.0

-

0.0

-

Total Current Assets

121.1

81.4

47.6

46.4

47.7

 

 

 

 

 

 

        Buildings

46.7

36.3

35.2

32.7

40.2

        Land/Improvements

40.9

25.7

25.1

10.5

14.2

        Machinery/Equipment

102.3

98.6

91.7

83.0

100.0

        Construction in Progress

6.7

0.5

1.1

1.0

10.6

        Other Property/Plant/Equipment

0.0

0.0

-

-

-

    Property/Plant/Equipment - Gross

196.7

161.1

153.1

127.1

165.0

    Accumulated Depreciation

-100.3

-94.2

-84.1

-69.8

-84.3

Property/Plant/Equipment - Net

96.3

66.9

68.9

57.3

80.7

Goodwill, Net

6.2

7.4

-0.1

-0.1

-0.2

Intangibles, Net

0.8

1.0

0.7

2.1

3.7

    LT Investment - Affiliate Companies

22.7

13.4

9.5

10.3

-

    LT Investments - Other

2.2

5.3

3.0

1.3

1.6

Long Term Investments

25.0

18.7

12.5

11.6

1.6

    Pension Benefits - Overfunded

-

-

0.0

0.0

0.0

    Deferred Income Tax - Long Term Asset

-

-

-

1.0

2.1

    Restricted Cash - Long Term

-

-

0.6

0.8

3.2

    Other Long Term Assets

1.1

0.7

0.4

0.4

0.5

Other Long Term Assets, Total

1.1

0.7

1.0

2.3

5.8

Total Assets

250.6

176.0

130.6

119.6

139.3

 

 

 

 

 

 

Accounts Payable

23.1

16.4

15.9

9.5

11.0

Accrued Expenses

0.6

0.4

0.1

0.3

0.2

Notes Payable/Short Term Debt

43.7

48.9

20.8

25.9

20.5

Current Portion - Long Term Debt/Capital Leases

10.8

10.3

5.3

13.4

7.0

    Customer Advances

3.5

4.0

1.4

1.2

0.5

    Security Deposits

0.2

0.2

0.2

0.2

0.3

    Income Taxes Payable

1.7

2.7

0.5

0.5

1.5

    Other Payables

20.1

10.8

9.2

6.6

7.8

    Deferred Income Tax - Current Liability

-

-

0.1

0.0

0.0

    Other Current Liabilities

2.4

0.4

0.5

0.5

1.0

Other Current liabilities, Total

27.9

18.2

12.0

9.1

11.2

Total Current Liabilities

106.0

94.2

54.1

58.2

49.8

 

 

 

 

 

 

    Long Term Debt

54.2

5.9

15.0

17.7

33.8

Total Long Term Debt

54.2

5.9

15.0

17.7

33.8

Total Debt

108.6

65.1

41.1

57.1

61.3

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

3.1

2.3

1.6

-

-

Deferred Income Tax

3.1

2.3

1.6

-

-

Minority Interest

0.7

0.6

-

-

-

    Pension Benefits - Underfunded

2.6

4.0

4.6

4.7

6.4

    Other Long Term Liabilities

9.3

1.3

0.8

0.4

1.1

Other Liabilities, Total

11.9

5.4

5.5

5.1

7.6

Total Liabilities

175.8

108.3

76.2

81.1

91.2

 

 

 

 

 

 

    Common Stock

11.3

11.5

11.2

10.3

13.9

Common Stock

11.3

11.5

11.2

10.3

13.9

Additional Paid-In Capital

6.9

6.7

8.6

8.0

10.8

Retained Earnings (Accumulated Deficit)

44.3

37.7

24.9

20.1

24.2

Treasury Stock - Common

-3.5

-3.1

-2.6

-2.2

-0.7

Unrealized Gain (Loss)

15.9

15.2

12.4

2.2

-

    Other Equity

0.0

0.0

-

-

-

    Other Comprehensive Income

0.0

0.0

-

-

-

Other Equity, Total

0.0

0.0

-

-

-

Total Equity

74.8

67.8

54.4

38.5

48.1

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

250.6

176.0

130.6

119.6

139.3

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

23.7

23.9

24.2

24.5

25.5

Total Common Shares Outstanding

23.7

23.9

24.2

24.5

25.5

Treasury Shares - Common Stock Primary Issue

2.3

2.1

1.8

1.5

0.5

Employees

446

421

413

529

519

Number of Common Shareholders

-

4,643

3,355

3,835

5,546

Accumulated Intangible Amort, Suppl.

2.4

2.2

-

-

-

Deferred Revenue - Current

3.5

4.0

1.4

1.2

0.5

Total Long Term Debt, Supplemental

64.9

-

20.3

41.1

26.1

Long Term Debt Maturing within 1 Year

10.8

-

5.3

13.4

5.2

Long Term Debt Maturing in Year 2

16.6

-

9.8

5.4

5.8

Long Term Debt Maturing in Year 3

12.2

-

3.1

12.4

5.5

Long Term Debt Maturing in Year 4

11.5

-

-

-

5.3

Long Term Debt Maturing in 2-3 Years

28.8

-

12.9

17.9

11.3

Long Term Debt Maturing in 4-5 Years

11.5

-

-

-

5.3

Long Term Debt Matur. in Year 6 & Beyond

13.8

-

2.1

9.8

4.4

 

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

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

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

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

9.5

12.9

3.3

3.6

7.4

    Depreciation

8.1

8.3

8.0

9.2

11.9

Depreciation/Depletion

8.1

8.3

8.0

9.2

11.9

    Amortization of Intangibles

0.3

0.5

0.5

0.7

1.7

    Amortization of Acquisition Costs

-

-

0.0

0.0

0.0

Amortization

0.3

0.5

0.5

0.7

1.7

Deferred Taxes

-

-

0.3

-0.4

-0.5

    Unusual Items

0.2

0.1

0.1

0.9

2.8

    Equity in Net Earnings (Loss)

-0.3

-3.2

0.6

2.3

-

    Other Non-Cash Items

12.5

8.9

0.1

4.9

2.0

Non-Cash Items

12.4

5.8

0.8

8.2

4.8

    Accounts Receivable

-36.2

-12.7

-3.9

-3.1

2.3

    Inventories

-11.1

-3.0

-0.7

-1.7

-0.2

    Prepaid Expenses

-

-

-0.8

1.4

1.9

    Other Assets

-1.2

-0.4

-

-0.1

-

    Accounts Payable

25.5

1.2

5.7

-0.1

-0.2

    Accrued Expenses

-

-

-0.2

0.2

0.0

    Taxes Payable

-

-

0.0

-0.7

1.4

    Other Liabilities

-4.5

-0.5

-1.3

1.3

-1.6

    Other Operating Cash Flow

-8.2

-4.2

-

-

-

Changes in Working Capital

-35.7

-19.5

-1.2

-2.8

3.5

Cash from Operating Activities

-5.4

7.9

11.7

18.6

28.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-39.6

-4.2

-2.1

-10.2

-12.7

    Purchase/Acquisition of Intangibles

-

-

-

-0.2

-0.7

Capital Expenditures

-39.6

-4.2

-2.1

-10.5

-13.4

    Sale of Fixed Assets

1.0

0.4

0.6

1.5

0.1

    Sale/Maturity of Investment

28.1

2.0

2.1

0.9

0.7

    Investment, Net

0.0

0.0

-

-

-

    Purchase of Investments

-33.0

-11.7

-2.7

-12.0

-1.0

    Sale of Intangible Assets

-

-

-

0.2

0.4

    Other Investing Cash Flow

-0.6

-0.2

2.2

0.9

0.0

Other Investing Cash Flow Items, Total

-4.5

-9.4

2.1

-8.5

0.2

Cash from Investing Activities

-44.1

-13.6

0.0

-18.9

-13.2

 

 

 

 

 

 

    Other Financing Cash Flow

-

-

-0.6

0.7

0.4

Financing Cash Flow Items

-

-

-0.6

0.7

0.4

    Cash Dividends Paid - Common

-2.2

-0.8

-0.5

-1.2

-0.7

Total Cash Dividends Paid

-2.2

-0.8

-0.5

-1.2

-0.7

        Sale/Issuance of Common

0.5

-

-

-

0.8

        Repurchase/Retirement of Common

-0.4

-0.4

-0.3

-1.9

-

    Common Stock, Net

0.1

-0.4

-0.3

-1.9

0.8

Issuance (Retirement) of Stock, Net

0.1

-0.4

-0.3

-1.9

0.8

        Short Term Debt Issued

169.5

77.4

36.2

10.5

2.0

        Short Term Debt Reduction

-175.2

-59.8

-42.8

-

-14.9

    Short Term Debt, Net

-5.7

17.6

-6.7

10.5

-13.0

        Long Term Debt Issued

62.9

-

1.7

5.2

9.7

        Long Term Debt Reduction

-12.0

-5.6

-13.6

-5.7

-10.3

    Long Term Debt, Net

50.9

-5.6

-11.9

-0.5

-0.6

Issuance (Retirement) of Debt, Net

45.2

12.0

-18.5

10.0

-13.6

Cash from Financing Activities

43.1

10.7

-19.8

7.7

-13.0

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

-

-

-

Net Change in Cash

-6.4

5.1

-8.0

7.3

2.6

 

 

 

 

 

 

Net Cash - Beginning Balance

7.4

2.0

9.8

4.1

2.2

Net Cash - Ending Balance

0.9

7.0

1.8

11.4

4.8

Cash Interest Paid

4.6

3.2

-

-

-

Cash Taxes Paid

3.8

1.2

-

-

-

 

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

Reclassified Normal 
31-Dec-2009

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

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Finished Product Revenues

-

-

91.3

146.9

194.2

    Other Revenues

-

-

7.3

12.6

3.9

    Sales Revenue

195.7

159.7

-

-

-

Total Revenue

195.7

159.7

98.7

159.5

198.1

 

 

 

 

 

 

    Cost of Finish. Good

-

-

78.0

117.1

157.8

    Cost of Other Sales

-

-

5.9

12.3

3.4

    Costs of Goods and Services Sold

159.6

132.4

-

-

-

    Salaries and Wages

5.4

4.4

3.1

3.6

4.4

    Retirement and Severance Benefits

0.7

0.2

0.2

0.3

0.3

    Employee Benefits

1.1

0.8

0.4

0.8

0.9

    Travel Expenses

0.6

0.3

0.1

0.4

0.5

    Communication Expenses

0.2

0.1

0.1

0.1

0.1

    Repair & Maintenance Expenses

0.3

0.2

0.1

0.3

0.3

    Insurance Expenses

0.0

0.0

0.0

0.0

0.0

    Shipping and Handling Expenses

4.5

3.1

2.4

6.1

7.5

    Taxes and Dues

0.4

0.3

0.3

0.3

0.6

    Commissions

1.5

0.8

0.5

0.6

0.7

    Entertainment Expenses

0.6

0.4

0.2

0.4

0.4

    Depreciation

0.9

0.7

0.6

1.0

1.3

    Amortization of Intangible Assets

0.3

0.5

0.5

0.7

1.7

    Consumable Expense

0.3

0.1

0.0

0.1

0.1

    Publication Expenses

0.0

0.0

0.0

0.0

0.0

    Advertising Expense

0.0

0.0

0.0

0.0

0.0

    Vehicle Maintenance Expenses

0.2

0.1

0.1

0.1

0.2

    Services Expenses

0.4

0.2

0.1

0.3

0.3

    Maintenance Expense

-

-

0.0

-

-

    Overseas Market Development Expense

-

-

-

-

0.1

    Education & Training

0.1

0.0

0.0

0.0

0.1

    Expenses of Allowance for Doubtful Accou

-0.6

0.0

-0.5

1.2

0.0

    Development Costs

2.5

1.3

0.8

1.9

1.3

    Utility Expenses

0.0

0.0

0.0

0.0

0.0

    Rental Expenses

0.0

0.0

0.0

-

0.0

    Miscellaneous Expenses

0.0

0.0

0.0

0.0

0.0

    Adjustment for Selling and Administrativ

-

-

-

-

-

Total Operating Expense

179.0

146.4

93.2

147.9

182.2

 

 

 

 

 

 

    Interest Income

0.2

0.3

0.4

0.3

0.3

    Gain on Foreign Currency Transactions

0.9

0.3

0.1

0.5

0.0

    Gain on Foreign Currency Translations

0.5

0.2

0.4

0.6

0.0

    Gain on Disposal of Property, Plant and

1.0

0.1

0.3

0.0

0.0

    Government Subsidy

0.0

0.3

0.0

0.2

0.2

    Gain on Derivatives Transaction

0.0

-

-

-

-

    Recovery-Negative Goodwill Amortization

-

-

0.0

0.0

0.0

    Recovery of Loan Loss Reserve

-

-

-

-

0.0

    Gain-Prior Period Error Correction

-

-

-

0.0

0.2

    Miscellaneous Income

5.6

3.7

2.5

2.2

0.6

    Gain-Disposal of Investment Assets

-

-

0.0

0.0

0.2

    Interest Expenses

-4.8

-3.2

-3.2

-4.3

-4.8

    Loss on Derivative Transaction

-1.2

-

-

-

-

    Loss on Valuation of Derivatives

-1.9

-

-

-

-

    Loss-Currency Forwards Transaction

-

-

-

0.0

-

    Loss on Foreign Currency Transactions

-0.7

-0.3

-0.3

-0.2

-0.1

    Loss on Foreign Currency Translations

-1.2

-0.1

-0.1

-1.7

-0.1

    Loss on Disposal of Property, Plant and

0.0

-0.1

0.0

0.0

0.0

    Loss on Disposal of Accounts Receivab

-

-

-0.4

-0.8

-1.0

    Loss-Reduct. of Sec. Available-Sale

-

-

0.0

-

-

    Loss on Reduction of Tangible Assets

-

-

-

-

-2.0

    Impairment Loss on Intangible Assets

-1.2

-

-

-

-

    Additional Income Taxes Paid

-

-

-

-

-0.1

    Donations Paid

-0.1

-0.1

0.0

-0.1

-0.1

    Compensations Expenses Associated with S

-0.1

-

-

-

-

    Miscellaneous Loss

-1.4

-0.8

-0.5

-1.1

-0.7

    Loss-Prior Period Error Correction

-

-

-

0.0

0.0

    Loss-Disposal of Investment Assets

-

-0.1

0.0

-0.1

-

    L-Equity Method Valuation

-

-

-0.6

-2.3

-

    Gain on Investments in Jointly Controlle

0.8

3.2

-

-

-

    Loss on Investments in Jointly Controlle

-0.5

-

-

-

-

    Adjustment for Finance Income

0.0

0.0

-

-

-

    Adjustment for Other Non-Operating Incom

0.0

0.0

-

-

-

    Adjustment for Finance Expense

0.0

0.0

-

-

-

    Adjustment for Other Non-Operating Expen

0.0

0.0

-

-

-

Net Income Before Taxes

12.8

16.8

4.2

4.9

8.5

 

 

 

 

 

 

Provision for Income Taxes

3.3

3.9

0.8

1.2

1.1

Net Income After Taxes

9.5

12.9

3.3

3.6

7.4

 

 

 

 

 

 

    Minority Interest

0.1

0.1

-

-

0.0

Net Income Before Extra. Items

9.6

12.9

3.3

3.6

7.4

Net Income

9.6

12.9

3.3

3.6

7.4

 

 

 

 

 

 

Income Available to Com Excl E

9.6

12.9

3.3

3.6

7.4

 

 

 

 

 

 

Income Available to Com Incl E

9.6

12.9

3.3

3.6

7.4

 

 

 

 

 

 

Basic Weighted Average Shares

23.8

24.0

24.4

24.8

25.4

Basic EPS Excluding ExtraOrdin

0.40

0.54

0.14

0.15

0.29

Basic EPS Including ExtraOrdin

0.40

0.54

0.14

0.15

0.29

Dilution Adjustment

0.1

0.0

-

0.0

-

Diluted Net Income

9.7

12.9

3.3

3.6

7.4

Diluted Weighted Average Share

24.0

24.0

24.4

24.8

25.4

Diluted EPS Excluding ExtraOrd

0.40

0.54

0.14

0.15

0.29

Diluted EPS Including ExtraOrd

0.40

0.54

0.14

0.15

0.29

DPS-Common Stock

0.07

0.09

0.03

0.02

0.05

Gross Dividends - Common Stock

1.7

2.1

0.8

0.6

1.4

Normalized Income Before Taxes

11.9

16.8

3.9

4.9

8.5

 

 

 

 

 

 

Inc Tax Ex. Impact of Sp Items

3.0

3.9

0.8

1.2

1.1

Normalized Income After Taxes

8.8

12.9

3.1

3.6

7.4

 

 

 

 

 

 

Normalized Inc. Avail to Com.

8.9

12.9

3.1

3.6

7.4

 

 

 

 

 

 

Basic Normalized EPS

0.37

0.54

0.13

0.15

0.29

Diluted Normalized EPS

0.37

0.54

0.13

0.15

0.29

Interest Expense

4.8

3.2

3.2

4.3

4.8

R&D Expense, Supplemental

2.5

1.3

0.8

1.9

1.3

Advertising Expense

0.0

0.0

0.0

0.0

0.0

Rental Expense

0.0

0.0

0.0

-

0.0

Depreciation

8.1

8.3

8.0

9.2

11.9

Amort of Intangibles, Suppleme

0.3

0.5

0.5

0.7

1.7

Amort of Negative Goodwill

-

-

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

Restated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Cash Equivalents

0.9

7.2

1.7

9.1

4.5

    Cash & Cash Equivalents-Government Subsi

-0.1

-0.2

-

-

-

    Current Financial Instruments

0.3

0.7

-

-

-

    Securities held to Maturities

-

-

0.2

0.0

0.0

    ST Financial Assets

-

-

0.0

0.1

0.0

    Trade Receivables, Gross

90.2

59.9

34.2

26.4

29.9

    Allowance for Doubtful Accounts for Trad

-0.1

-0.7

-0.8

-1.2

-0.4

    Account Receivables

1.6

1.2

0.3

0.2

0.9

    Accrued Income

0.3

0.3

0.2

0.2

0.1

    Advance Payments

7.7

4.3

6.9

6.0

4.9

    Prepaid Expenses

0.4

0.2

0.1

0.1

0.1

    Current Loans

0.0

0.0

0.0

2.0

0.0

    Currency Futures, Current Assets

-

-

-

0.0

-

    Prepaid Income Taxes

0.0

0.0

0.0

0.2

0.0

    Prepaid Value Added Taxes

3.0

2.1

1.7

0.8

2.7

    Finished Goods

2.5

2.3

1.9

1.1

2.4

    Works in Process

1.7

0.5

0.4

0.2

0.4

    Raw Materials

12.9

3.8

0.8

1.1

1.9

    Adjustment for Trade & Other Receivables

-

0.0

-

-

-

    Adjustment for Inventories

-

0.0

-

-

-

    Adjustment for Other Current Assets

0.0

0.0

-

-

-

Total Current Assets

121.1

81.4

47.6

46.4

47.7

 

 

 

 

 

 

    Non-Current Financial Instruments

2.2

5.3

2.1

1.1

1.2

    Securities Available for Sale

-

-

-

0.0

0.0

    Other Non-Current Investment Assets

0.0

0.0

0.0

0.0

0.2

    Restricted Bank Deposit

-

-

0.6

0.8

3.2

    Securities Held to Maturities

-

-

0.0

0.2

0.2

    Investment in Joint Ventures

22.7

13.4

9.5

10.3

-

    Guarantee Deposits

-

-

0.4

0.4

0.5

    Condo Membership Rights

0.0

0.0

-

-

-

    Guarantee Deposits, Non-Current Assets

1.1

0.7

-

-

-

    Deposit-Group Retirement Insurance

-

-

0.0

0.0

0.0

    Deferred Income Tax-Debit

-

-

-

1.0

2.1

    Membership Right

-

-

0.8

-

-

    Lands

40.9

25.7

25.1

10.5

14.2

    Buildings

36.3

25.9

25.3

23.5

27.9

    Buildings-Depreciation

-13.7

-12.5

-10.9

-8.9

-10.6

    Structures

10.5

10.4

10.0

9.2

12.4

    Structures-Depreciation

-6.8

-6.4

-5.8

-4.9

-5.8

    Structures-Reduction

-0.1

-0.1

-0.1

-0.1

-0.1

    Machineries & Equipments

74.6

72.2

66.5

61.2

72.7

    Machineries & Equipments-Depreciation

-55.1

-51.2

-45.1

-37.3

-45.6

    Machineries & Equipments-Reduction

-0.8

-0.8

-0.8

-0.8

-1.1

    Vehicles

0.8

0.9

0.8

0.7

1.2

    Vehicles-Depreciation

-0.5

-0.6

-0.7

-0.6

-0.9

    Tools/Equipments

24.0

23.1

22.1

19.5

24.3

    Tools & Equipments-Depreciation

-20.6

-20.0

-18.5

-15.4

-18.1

    Tools & Equipments-Reduction Loss Provis

-0.8

-0.8

-0.8

-0.7

-1.0

    Fixtures

4.6

4.1

3.8

3.0

3.8

    Fixtures-Depreciation

-3.7

-3.5

-3.1

-2.7

-3.4

    Construction in Progress

6.7

0.5

1.1

1.0

3.4

    Development Costs

-

0.2

0.7

1.0

2.1

    Membership Right

-

-

-

0.9

1.3

    Goodwill

6.2

7.4

-

-

-

    Negative Goodwill

-

-

-0.1

-0.1

-0.2

    Facilities Usage Rights

0.7

0.7

-

-

-

    Other Intangible Assets

0.1

0.1

0.1

0.1

0.3

    Machines in Transit

-

-

-

-

7.3

    Adjustment for Property, Plant & Equipme

0.0

0.0

-

-

-

    Adjustment for Intangible Assets

0.0

0.0

-

-

-

    Adjustment for Other Non-Current Assets

0.0

0.0

-

-

-

Total Assets

250.6

176.0

130.6

119.6

139.3

 

 

 

 

 

 

    Current Trade Payables

23.1

16.4

15.9

9.5

11.0

    Current Borrowings

43.7

48.9

20.8

25.9

20.5

    Other Payables

20.1

10.8

9.2

6.6

7.8

    Withholdings

0.4

0.2

0.4

0.4

0.8

    Accrued Expenses

0.6

0.4

0.1

0.3

0.2

    Current Tax Liabilities

1.7

2.7

0.5

0.5

1.5

    Guarantee Deposits Withholdings, Current

0.2

0.2

0.2

0.2

0.3

    Reserve for Current Liabilities

0.2

0.2

0.2

0.1

0.2

    Advance from Customers, Current Liabilit

3.5

4.0

1.4

1.2

0.5

    Current Portion of Long-term Borrowings

10.8

10.3

5.3

13.4

7.0

    Deferred Income Tax Credits

-

-

0.1

0.0

0.0

    Current Financial Liabilities

1.8

-

-

-

-

    Adjustment for Current Trade & Other Pay

0.0

0.0

-

-

-

    Value Added Taxes Withholdings

0.0

-

-

-

-

    Adjustment for Other Current Liabilities

0.0

0.0

-

-

-

Total Current Liability

106.0

94.2

54.1

58.2

49.8

 

 

 

 

 

 

    Non-Current Borrowings

54.2

5.9

15.0

17.4

20.9

    Bonds

-

-

-

0.3

12.9

Total Long Term Debt

54.2

5.9

15.0

17.7

33.8

 

 

 

 

 

 

    Non-Current Other Payables

9.3

1.3

0.8

0.4

1.1

    Minority Interests

0.7

0.6

-

-

-

    Deferred Income Taxes, Non-Current Liabi

3.1

2.3

1.6

-

-

    Retirement Resrv

-

-

5.1

5.2

6.4

    Deposit-Retirement Insurance

-

-

-0.4

-0.4

-

    Transfer to National Pension Fund

-

-

0.0

-0.1

-

    Retirement & Severance Benefits, Non-Cur

2.6

4.0

-

-

-

Total Liabilities

175.8

108.3

76.2

81.1

91.2

 

 

 

 

 

 

    Common Stock

11.3

11.5

11.2

10.3

13.9

    Additional Paid in Capital

4.0

4.1

4.0

3.7

4.9

    Other Capital Surplus

2.9

2.6

4.7

4.3

5.8

    Appropriated Retained Earnings for Legal

1.3

1.1

0.9

0.7

0.8

    Reserve for Business Stabilizations

2.4

2.4

-

-

-

    Reserves for Financial Structure Improve

1.2

1.2

-

-

-

    Voluntary Reserve

-

-

19.6

15.8

15.3

    Other Voluntary Reserves

27.1

19.6

-

-

-

    Retained Earnings Carried Forward

12.3

13.4

4.4

3.6

8.1

    Treasury Stock

-3.5

-3.1

-2.6

-2.2

-0.7

    Reserve for Assets Revaluation

2.2

2.3

-

-

-

    Revaluation Surplus

10.8

11.0

-

-

-

    Revaluation Retained Earnings

-

-

10.7

-

-

    Discounts on Stock Issuance

0.0

0.0

-

-

-

    Gain-Valuation of Currency Futures

-

-

-

0.0

-

    Capital Change, Equity Method

2.9

1.9

1.7

2.2

-

    Adjustment for Capital Surplus

-

0.0

-

-

-

    Adjustment for Capital Adjustment

0.0

-

-

-

-

    Adjustment for Accumulated Other Compreh

0.0

0.0

-

-

-

    Adjustment for Retained Earnings or Accu

0.0

0.0

-

-

-

Total Equity

74.8

67.8

54.4

38.5

48.1

 

 

 

 

 

 

Total Liabilities & Shareholde

250.6

176.0

130.6

119.6

139.3

 

 

 

 

 

 

    S/O-Common Stock

23.7

23.9

24.2

24.5

25.5

Total Common Shares Outstandin

23.7

23.9

24.2

24.5

25.5

T/S-Common Stock

2.3

2.1

1.8

1.5

0.5

Deferred Revenue, Current

3.5

4.0

1.4

1.2

0.5

Deferred Revenue - Current

2.4

2.2

-

-

-

Full-Time Employees

446

421

413

529

519

Number of Common Shareholders

-

4,643

3,355

3,835

5,546

LT Debt 1 yr

10.8

-

5.3

13.4

5.2

LT Debt 2 yrs

16.6

-

9.8

5.4

5.8

LT Debt 3 yrs

12.2

-

3.1

12.4

5.5

LT Debt 4 yrs

11.5

-

-

-

5.3

LT Debt thereafter

13.8

-

2.1

9.8

4.4

Total Long Term Debt, Supplemental

64.9

-

20.3

41.1

26.1

 

 

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

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

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

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

9.5

12.9

3.3

3.6

7.4

    Depreciation

8.1

8.3

8.0

9.2

11.9

    Expense of Allowance for Doubtful Accoun

-0.6

0.0

-0.5

1.2

0.0

    Payment for Retirement Allowance, ONCI

2.8

2.2

1.0

1.8

2.2

    Amortization of Intangible Assets

0.3

0.5

0.5

0.7

1.7

    Recovery-Negative Goodwill Amortization

-

-

0.0

0.0

0.0

    Corporate Taxes Expense

3.3

3.9

-

-

-

    Interest Expenses

4.8

3.2

-

-

-

    R & D Expenses

0.0

-

-

-

-

    Loss on Disposal of Property, Plant and

0.0

0.1

0.0

0.0

0.0

    Losses on Foreign Currency Translation

1.2

0.1

0.0

1.7

0.1

    Loss on Disposal of Trade Receivable

-

-

0.4

0.8

1.0

    Loss-Prior Period Error Correction

-

-

-

0.0

0.0

    Miscellaneous Loss

-

-

-

-

0.0

    Loss on Reduction of Tangible Assets

-

-

-

-

2.0

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

-

-

0.0

-

-

    Miscellaneous Expense

-

-

-

0.4

-

    Loss on Valuation of Currency Forwards

1.9

-

-

-

-

    Impairment Loss on Intangible Assets

1.2

-

-

-

-

    Loss on Invesment in Affiliates

0.5

-

0.6

2.3

-

    Losses on Disposal of Investment Assets

-

0.1

0.0

0.1

-

    Gain on Disposal of Property, Plant and

-1.0

-0.1

-0.3

0.0

0.0

    Treasury Stock-Income Taxes

-

-

-

-

-0.2

    Gain-Prior Period Error Correction

-

-

-

0.0

-0.2

    Gains on Foreign Currency Translation

-0.5

-0.2

-0.4

0.0

0.0

    Interest Income

-0.2

-0.3

-

-

-

    Government Subsidy

-

-

0.0

-0.2

-

    Gain-Disposal of Investment Assets

-

-

0.0

-

-0.2

    Recovery of Provision for Doubtful Ac

-

-

-

-

0.0

    Gain from Government Subsidy

0.0

-

-

-

-

    Gain on Invesment in Affiliates

-0.8

-3.2

-

-

-

    Trade Receivables

-32.0

-14.6

-3.9

-3.6

2.7

    Other Receivables

-4.3

1.9

0.0

0.6

-0.4

    Accrued Income

-

-

0.0

-0.1

0.0

    Other Guarantee Deposit-Leases

-

-

-

-0.1

-

    Advance Payments

-

-

-0.3

-2.8

-0.8

    Prepaid Expenses

-

-

0.0

-0.1

0.0

    Inventories

-11.1

-3.0

-0.4

1.2

0.6

    Deferred Income Tax Debit

-

-

1.2

-0.4

-0.5

    Other Current Assets

-1.2

-0.4

-

-

-

    Trade Payables

7.2

0.1

3.6

-0.7

0.6

    Other Payables

18.3

1.2

1.9

0.9

-0.8

    Other Current Liabilities

-0.3

2.4

-

-

-

    Advances Received

-

-

0.1

3.3

-0.4

    Deposits Withheld

-

-

0.0

-0.1

0.6

    Accrued Expenses

-

-

-0.2

0.2

0.0

    Accrued Income Taxes

-

-

0.0

-0.7

1.4

    Nation Pension Fnd

-

-

0.0

0.0

0.0

    Payment for Retirement Allowance

-4.0

-1.6

-1.4

-1.9

-1.9

    Deposits for Retirement Insurance

-0.2

-1.3

0.0

0.0

0.0

    Long-Term Accounts Payable

-

-

0.3

-0.3

-

    Deferred Income Tax Credits

-

-

-0.9

0.0

0.0

    Prepaid Taxes

-

-

-

-

0.2

    Prepaid Value Added Taxes

-

-

-0.8

1.5

1.6

    Prepaid Income Taxes

-

-

0.0

0.0

-

    Cash-Interest Received

0.2

0.3

-

-

-

    Cash-Interest Paid

-4.6

-3.2

-

-

-

    Cash-Tax Paid

-3.8

-1.2

-

-

-

    Adjustment for Cash Flow from Operating

0.0

0.0

-

-

-

Cash from Operating Activities

-5.4

7.9

11.7

18.6

28.8

 

 

 

 

 

 

    Disposal of Current Financial Instrument

0.6

0.0

0.1

0.0

-

    Dec-LT Finl Asset

27.4

1.5

1.6

0.8

0.6

    Decrease-Securities vailable for Sale

-

-

-

0.0

0.0

    Disposal in Current Loans

3.2

1.7

2.6

-

0.0

    Disp-Secs held till Maturity

0.0

0.2

0.0

0.0

0.1

    Decrease-Other Investment Assets

-

-

-

0.1

-

    Decrease-Membership Right

-

0.3

0.3

-

-

    Decrease-Restricted Bank Deposit

-

-

0.3

1.9

-

    Decrease in Guarantee Deposit

0.0

0.0

0.1

0.0

0.0

    Disp-Vehicles

0.1

0.1

-

0.1

0.0

    Disposal of Machinery

0.9

0.1

0.5

1.2

0.0

    Decrease-Membership Right

-

-

-

0.2

0.4

    Disp-Tools/Equipmt

-

0.2

-

0.2

-

    Disposal-Buildings

-

-

0.1

-

-

    Disposal-Supplies

-

-

0.0

-

0.0

    Purchase of Non-Current Financial Instru

-24.5

-3.8

-2.5

-1.2

-0.2

    Inc-Guarantee Dep

-

-

0.0

-

0.0

    Purchase of Current Financial Instrument

-

-0.6

0.0

-

-0.8

    Increase in Current Loans

-3.2

-1.7

-0.7

-1.0

-

    Purchase of Land

-16.2

-

-

-

-

    Purchase of Buildings

-11.2

-

-

-1.7

-0.3

    Acq-Structure

-0.2

-0.1

-

-

-0.1

    Purchase of Machinery

-3.0

-2.0

-0.3

-5.0

-1.5

    Acq-Vehicles

-0.2

-0.3

0.0

0.0

-0.1

    Purchase of Tools & Equipments

-1.1

-1.0

-0.9

-1.7

-1.5

    Purchase of Fixtures

-0.5

-0.1

-0.6

-0.2

-0.1

    Purchase of Construction in Progress

-7.1

-0.7

-0.3

-1.6

-2.9

    Acquisition of Other Intangible Asset

-

-

-

-

-0.1

    Acq-Secs held till Maturity

0.0

0.0

0.0

-

0.0

    Increase-Other Investment Assets

-

-

-

-

0.0

    Increase-Membership Right

-0.1

-0.3

-0.2

-

-

    Purchase of Investment in Joint Venture

-8.3

-

-

-10.8

-

    Purchase of Consolidation Company

-

-6.9

-

-

-

    Acq-Land

-

-

-

-

0.0

    Increase in Guarantee Deposit

-0.5

-0.2

-

-

-

    Increase-Restricted Deposit

-

-

-0.1

-

-

    Increase in Government Subsidy

0.5

1.2

-

-

-

    Decrease in Government Subsidy

-0.6

-1.2

-

-

-

    Increase-Membership Right

-

-

-

-0.2

-0.6

    Acq-Mach. In Transit

-

-

-

-

-6.2

    Other Investment Assets

0.0

0.0

-

-

-

Cash from Investing Activities

-44.1

-13.6

0.0

-18.9

-13.2

 

 

 

 

 

 

    Increase in Current Borrowings

169.5

77.4

36.2

10.5

2.0

    Increase in Non-Current Borrowings

17.7

-

1.7

5.2

4.3

    Disposal-Treasury Stock

-

-

-

-

0.8

    Rights Issue

0.5

-

-

-

-

    Receipt of Subsidies from Government

-

-

0.5

1.1

0.8

    Inc-Bonds

-

-

-

-

5.4

    Increase in Current Portion of Long-Term

45.1

-

-

-

-

    Decrease in Current Borrowings

-175.2

-59.8

-42.8

-

-14.9

    Redemption-Bond

-

-

-

-

-1.3

    Dec-Current Portion of LT Borrowings

-11.1

-5.3

-13.3

-5.7

-5.7

    Decrease in Non-Current Borrowings

-0.8

-0.3

-0.3

0.0

-3.3

    Acquisition of Treasury Stock

-0.4

-0.4

-0.3

-1.9

-

    Cash Inflow-Consol. Scope Change, FN

-

-

-

-

0.1

    Increase-Expense for Stock Issuance

-

-

-

-

0.0

    Dividends Paid

-2.2

-0.8

-0.5

-1.2

-0.7

    Decrease in Government Subsidies

-

-

-1.0

-0.4

-0.4

Cash from Financing Activities

43.1

10.7

-19.8

7.7

-13.0

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

-

-

-

Net Change in Cash

-6.4

5.1

-8.0

7.3

2.6

 

 

 

 

 

 

Net Cash Beginning Balance

7.4

2.0

9.8

4.1

2.2

Cash and Cash Equivalents at End

0.9

7.0

1.8

11.4

4.8

    Cash Interest Paid

4.6

3.2

-

-

-

    Cash Taxes Paid

3.8

1.2

-

-

-

 

 

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

52.2

15.44%

195.7

17.37%

7.28%

8.91%

Research & Development1

-

-

2.5

80.83%

10.16%

65.81%

Operating Income1

3.0

-28.19%

16.7

19.66%

12.79%

22.71%

Income Available to Common Excl Extraord Items1

2.8

-21.05%

9.6

-28.90%

38.63%

34.12%

Basic EPS Excl Extraord Items1

0.12

-20.55%

0.40

-28.13%

40.70%

36.31%

Capital Expenditures2

3.9

-40.16%

39.6

813.33%

56.13%

22.32%

Cash from Operating Activities2

10.4

39.64%

-5.4

-

-

-

Free Cash Flow

6.5

567.22%

-43.3

-

-

-

Total Assets3

250.3

35.97%

250.6

44.51%

24.23%

18.08%

Total Liabilities3

173.4

50.65%

175.8

64.89%

25.65%

18.22%

Total Long Term Debt3

48.0

338.76%

54.2

838.68%

40.93%

15.24%

Employees3

-

-

446

5.94%

-5.53%

-4.21%

Total Common Shares Outstanding3

23.7

-0.42%

23.7

-0.67%

-1.06%

-1.39%

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

18.43%

17.13%

8.11%

11.91%

17.00%

Operating Margin

8.52%

8.36%

5.59%

7.33%

8.03%

Pretax Margin

6.56%

10.51%

4.22%

3.05%

4.31%

Net Profit Margin

4.91%

8.10%

3.37%

2.28%

3.74%

Financial Strength

Current Ratio

1.14

0.86

0.88

0.80

0.96

Long Term Debt/Equity

0.72

0.09

0.28

0.46

0.70

Total Debt/Equity

1.45

0.96

0.75

1.48

1.27

Management Effectiveness

Return on Assets

4.33%

8.46%

2.80%

2.84%

5.39%

Return on Equity

13.05%

21.34%

7.58%

8.54%

16.54%

Efficiency

Receivables Turnover

2.48

3.41

3.40

5.54

6.21

Inventory Turnover

8.68

12.85

9.64

14.52

17.18

Asset Turnover

0.89

1.05

0.83

1.25

1.44

Market Valuation USD (mil)

P/E (TTM)

4.91

.

Enterprise Value2

147.4

Price/Sales (TTM)

0.23

.

Enterprise Value/Revenue (TTM)

0.75

Price/Book (MRQ)

0.54

.

Enterprise Value/EBITDA (TTM)

6.31

Market Cap as of 27-Jul-20121

45.4

.

 

 

1-ExchangeRate: KRW to USD on 27-Jul-2012

1146.394547

 

 

 

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

1.14

0.86

0.88

0.80

0.96

Quick/Acid Test Ratio

0.88

0.72

0.66

0.63

0.71

Working Capital1

15.2

-12.8

-6.6

-11.9

-2.1

Long Term Debt/Equity

0.72

0.09

0.28

0.46

0.70

Total Debt/Equity

1.45

0.96

0.75

1.48

1.27

Long Term Debt/Total Capital

0.30

0.04

0.16

0.19

0.31

Total Debt/Total Capital

0.59

0.49

0.43

0.60

0.56

Payout Ratio

17.86%

16.04%

23.05%

15.54%

18.49%

Effective Tax Rate

25.63%

23.28%

20.19%

25.30%

12.87%

Total Capital1

183.4

132.9

95.5

95.6

109.4

 

 

 

 

 

 

Efficiency

Asset Turnover

0.89

1.05

0.83

1.25

1.44

Inventory Turnover

8.68

12.85

9.64

14.52

17.18

Days In Inventory

42.07

28.39

37.85

25.14

21.24

Receivables Turnover

2.48

3.41

3.40

5.54

6.21

Days Receivables Outstanding

147.09

106.98

107.48

65.94

58.81

Revenue/Employee2

421,965

386,596

261,889

263,530

378,851

Operating Income/Employee2

35,946

32,302

14,638

19,317

30,435

EBITDA/Employee2

53,978

53,543

37,224

35,763

56,542

 

 

 

 

 

 

Profitability

Gross Margin

18.43%

17.13%

8.11%

11.91%

17.00%

Operating Margin

8.52%

8.36%

5.59%

7.33%

8.03%

EBITDA Margin

12.79%

13.85%

14.21%

13.57%

14.92%

EBIT Margin

8.52%

8.36%

5.59%

7.33%

8.03%

Pretax Margin

6.56%

10.51%

4.22%

3.05%

4.31%

Net Profit Margin

4.91%

8.10%

3.37%

2.28%

3.74%

R&D Expense/Revenue

1.26%

0.82%

0.84%

1.17%

0.67%

COGS/Revenue

81.57%

82.87%

85.05%

81.12%

81.38%

SG&A Expense/Revenue

8.06%

7.20%

7.39%

9.31%

8.38%

 

 

 

 

 

 

Management Effectiveness

Return on Assets

4.33%

8.46%

2.80%

2.84%

5.39%

Return on Equity

13.05%

21.34%

7.58%

8.54%

16.54%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2

-1.82

0.16

0.44

0.29

0.60

Operating Cash Flow/Share 2

-0.22

0.34

0.53

0.66

1.12

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)

5.38

Market Cap/Equity (MRQ)

0.59

Market Cap/Revenue (TTM)

0.23

Market Cap/EBIT (TTM)

3.03

Market Cap/EBITDA (TTM)

1.96

Enterprise Value/Earnings (TTM)

17.37

Enterprise Value/Equity (MRQ)

1.92

Enterprise Value/Revenue (TTM)

0.75

Enterprise Value/EBIT (TTM)

9.79

Enterprise Value/EBITDA (TTM)

6.31

 

 

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

Reclassified Normal 
31-Dec-2009

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

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

195.7

159.7

91.3

146.9

194.2

Revenue

195.7

159.7

91.3

146.9

194.2

    Other Revenue

-

-

7.3

12.6

3.9

Other Revenue, Total

-

-

7.3

12.6

3.9

Total Revenue

195.7

159.7

98.7

159.5

198.1

 

 

 

 

 

 

    Cost of Revenue

159.6

132.4

83.9

129.4

161.2

Cost of Revenue, Total

159.6

132.4

83.9

129.4

161.2

Gross Profit

36.1

27.4

7.4

17.5

33.0

 

 

 

 

 

 

    Selling/General/Administrative Expense

8.5

6.0

3.6

10.0

11.1

    Labor & Related Expense

7.2

5.5

3.7

4.8

5.5

    Advertising Expense

0.0

0.0

0.0

0.0

0.0

Total Selling/General/Administrative Expenses

15.8

11.5

7.3

14.9

16.6

Research & Development

2.5

1.3

0.8

1.9

1.3

    Depreciation

0.9

0.7

0.6

1.0

1.3

    Amortization of Intangibles

0.3

0.5

0.5

0.7

1.7

Depreciation/Amortization

1.1

1.2

1.1

1.7

3.0

Total Operating Expense

179.0

146.4

93.2

147.9

182.2

 

 

 

 

 

 

Operating Income

16.7

13.3

5.5

11.7

15.9

 

 

 

 

 

 

        Interest Expense - Non-Operating

-4.8

-3.2

-3.2

-4.3

-4.8

    Interest Expense, Net Non-Operating

-4.8

-3.2

-3.2

-4.3

-4.8

        Interest Income - Non-Operating

0.2

0.3

0.4

0.3

0.3

        Investment Income - Non-Operating

-4.2

3.2

-0.5

-3.3

-2.0

    Interest/Investment Income - Non-Operating

-4.1

3.5

-0.1

-3.0

-1.7

    Interest Income (Expense) - Net Non-Operating

0.0

0.0

-

-

-

Interest Income (Expense) - Net Non-Operating Total

-8.8

0.3

-3.3

-7.3

-6.5

Gain (Loss) on Sale of Assets

1.0

0.0

0.3

0.0

0.0

    Other Non-Operating Income (Expense)

4.0

3.1

1.6

0.5

-0.9

Other, Net

4.0

3.1

1.6

0.5

-0.9

Income Before Tax

12.8

16.8

4.2

4.9

8.5

 

 

 

 

 

 

Total Income Tax

3.3

3.9

0.8

1.2

1.1

Income After Tax

9.5

12.9

3.3

3.6

7.4

 

 

 

 

 

 

    Minority Interest

0.1

0.1

-

-

0.0

Net Income Before Extraord Items

9.6

12.9

3.3

3.6

7.4

Net Income

9.6

12.9

3.3

3.6

7.4

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

9.6

12.9

3.3

3.6

7.4

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

9.6

12.9

3.3

3.6

7.4

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

23.8

24.0

24.4

24.8

25.4

Basic EPS Excl Extraord Items

0.40

0.54

0.14

0.15

0.29

Basic/Primary EPS Incl Extraord Items

0.40

0.54

0.14

0.15

0.29

Dilution Adjustment

0.1

0.0

-

0.0

-

Diluted Net Income

9.7

12.9

3.3

3.6

7.4

Diluted Weighted Average Shares

24.0

24.0

24.4

24.8

25.4

Diluted EPS Excl Extraord Items

0.40

0.54

0.14

0.15

0.29

Diluted EPS Incl Extraord Items

0.40

0.54

0.14

0.15

0.29

Dividends per Share - Common Stock Primary Issue

0.07

0.09

0.03

0.02

0.05

Gross Dividends - Common Stock

1.7

2.1

0.8

0.6

1.4

Interest Expense, Supplemental

4.8

3.2

3.2

4.3

4.8

Depreciation, Supplemental

8.1

8.3

8.0

9.2

11.9

Total Special Items

-1.0

0.0

-0.3

0.0

0.0

Normalized Income Before Tax

11.9

16.8

3.9

4.9

8.5

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-0.3

0.0

-0.1

0.0

0.0

Inc Tax Ex Impact of Sp Items

3.0

3.9

0.8

1.2

1.1

Normalized Income After Tax

8.8

12.9

3.1

3.6

7.4

 

 

 

 

 

 

Normalized Inc. Avail to Com.

8.9

12.9

3.1

3.6

7.4

 

 

 

 

 

 

Basic Normalized EPS

0.37

0.54

0.13

0.15

0.29

Diluted Normalized EPS

0.37

0.54

0.13

0.15

0.29

Amort of Acquisition Costs, Supplemental

-

-

0.0

-

-

Amort of Intangibles, Supplemental

0.3

0.5

0.5

0.7

1.7

Rental Expenses

0.0

0.0

0.0

-

0.0

Advertising Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

Research & Development Exp, Supplemental

2.5

1.3

0.8

1.9

1.3

Normalized EBIT

16.7

13.3

5.5

11.7

15.9

Normalized EBITDA

25.0

22.1

14.0

21.7

29.6

 

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

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1145.271505

1082.999462

1083.436022

1120.28956

 

 

 

 

 

 

    Net Sales

52.2

51.7

50.2

48.1

45.6

Revenue

52.2

51.7

50.2

48.1

45.6

Total Revenue

52.2

51.7

50.2

48.1

45.6

 

 

 

 

 

 

    Cost of Revenue

44.0

43.3

40.8

38.9

36.5

Cost of Revenue, Total

44.0

43.3

40.8

38.9

36.5

Gross Profit

8.1

8.5

9.4

9.2

9.1

 

 

 

 

 

 

    Selling/General/Administrative Expense

5.1

4.7

5.0

4.9

4.9

Total Selling/General/Administrative Expenses

5.1

4.7

5.0

4.9

4.9

Total Operating Expense

49.2

48.0

45.8

43.8

41.4

 

 

 

 

 

 

Operating Income

3.0

3.8

4.4

4.3

4.2

 

 

 

 

 

 

        Interest Expense - Non-Operating

-

-

-

-1.1

-1.0

    Interest Expense, Net Non-Operating

-

-

-

-1.1

-1.0

        Interest Income - Non-Operating

-

-

-

-

0.1

        Investment Income - Non-Operating

-1.3

-3.1

-1.0

-0.4

0.3

    Interest/Investment Income - Non-Operating

-1.3

-3.1

-1.0

-0.4

0.4

    Interest Income (Expense) - Net Non-Operating

-0.7

-0.3

-5.6

0.2

-

Interest Income (Expense) - Net Non-Operating Total

-2.0

-3.4

-6.6

-1.3

-0.6

    Other Non-Operating Income (Expense)

2.5

3.4

2.6

1.1

0.8

Other, Net

2.5

3.4

2.6

1.1

0.8

Income Before Tax

3.5

3.8

0.4

4.1

4.3

 

 

 

 

 

 

Total Income Tax

0.7

1.7

0.3

0.4

0.7

Income After Tax

2.8

2.1

0.1

3.7

3.6

 

 

 

 

 

 

    Minority Interest

0.0

0.0

0.0

0.0

0.0

Net Income Before Extraord Items

2.8

2.2

0.1

3.7

3.6

Net Income

2.8

2.2

0.1

3.7

3.6

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

2.8

2.2

0.1

3.7

3.6

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

2.8

2.2

0.1

3.7

3.6

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

23.7

23.7

23.7

23.8

23.9

Basic EPS Excl Extraord Items

0.12

0.09

0.01

0.15

0.15

Basic/Primary EPS Incl Extraord Items

0.12

0.09

0.01

0.15

0.15

Dilution Adjustment

0.0

0.0

-

-

0.0

Diluted Net Income

2.9

2.2

0.1

3.7

3.6

Diluted Weighted Average Shares

24.1

24.1

24.1

24.1

23.9

Diluted EPS Excl Extraord Items

0.12

0.09

0.01

0.15

0.15

Diluted EPS Incl Extraord Items

0.12

0.09

0.01

0.15

0.15

Dividends per Share - Common Stock Primary Issue

0.00

0.07

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

1.7

0.0

0.0

0.0

Interest Expense, Supplemental

1.6

1.3

1.4

1.1

1.0

Depreciation, Supplemental

2.2

2.0

2.0

2.1

2.0

Normalized Income Before Tax

3.5

3.8

0.4

4.1

4.3

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

0.7

1.7

0.3

0.4

0.7

Normalized Income After Tax

2.8

2.1

0.1

3.7

3.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

2.8

2.2

0.1

3.7

3.6

 

 

 

 

 

 

Basic Normalized EPS

0.12

0.09

0.01

0.15

0.15

Diluted Normalized EPS

0.12

0.09

0.01

0.15

0.15

Amort of Intangibles, Supplemental

0.0

0.0

0.0

0.1

0.5

Rental Expenses

0.0

0.0

0.0

0.0

0.0

Advertising Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

Research & Development Exp, Supplemental

0.4

0.6

0.6

0.3

0.9

Normalized EBIT

3.0

3.8

4.4

4.3

4.2

Normalized EBITDA

5.2

5.7

6.4

6.5

6.6

 

 

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

Restated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

0.8

6.9

1.7

9.1

4.5

    Short Term Investments

0.3

0.7

0.2

0.1

0.0

Cash and Short Term Investments

1.1

7.6

1.9

9.3

4.6

        Accounts Receivable - Trade, Gross

90.2

59.9

34.2

26.4

29.9

        Provision for Doubtful Accounts

-0.1

-0.7

-0.8

-1.2

-0.4

    Trade Accounts Receivable - Net

90.3

59.4

33.6

25.4

29.7

    Other Receivables

1.6

1.2

0.3

2.1

1.0

Total Receivables, Net

92.0

60.6

33.9

27.6

30.7

    Inventories - Finished Goods

2.5

2.3

1.9

1.1

2.4

    Inventories - Work In Progress

1.7

0.5

0.4

0.2

0.4

    Inventories - Raw Materials

12.9

3.8

0.8

1.1

1.9

    Inventories - Other

7.7

4.3

6.9

6.0

4.9

Total Inventory

24.7

10.8

9.9

8.5

9.6

Prepaid Expenses

3.4

2.3

1.8

1.1

2.9

    Other Current Assets

0.0

0.0

-

0.0

-

Other Current Assets, Total

0.0

0.0

-

0.0

-

Total Current Assets

121.1

81.4

47.6

46.4

47.7

 

 

 

 

 

 

        Buildings

46.7

36.3

35.2

32.7

40.2

        Land/Improvements

40.9

25.7

25.1

10.5

14.2

        Machinery/Equipment

102.3

98.6

91.7

83.0

100.0

        Construction in Progress

6.7

0.5

1.1

1.0

10.6

        Other Property/Plant/Equipment

0.0

0.0

-

-

-

    Property/Plant/Equipment - Gross

196.7

161.1

153.1

127.1

165.0

    Accumulated Depreciation

-100.3

-94.2

-84.1

-69.8

-84.3

Property/Plant/Equipment - Net

96.3

66.9

68.9

57.3

80.7

Goodwill, Net

6.2

7.4

-0.1

-0.1

-0.2

Intangibles, Net

0.8

1.0

0.7

2.1

3.7

    LT Investment - Affiliate Companies

22.7

13.4

9.5

10.3

-

    LT Investments - Other

2.2

5.3

3.0

1.3

1.6

Long Term Investments

25.0

18.7

12.5

11.6

1.6

    Pension Benefits - Overfunded

-

-

0.0

0.0

0.0

    Deferred Income Tax - Long Term Asset

-

-

-

1.0

2.1

    Restricted Cash - Long Term

-

-

0.6

0.8

3.2

    Other Long Term Assets

1.1

0.7

0.4

0.4

0.5

Other Long Term Assets, Total

1.1

0.7

1.0

2.3

5.8

Total Assets

250.6

176.0

130.6

119.6

139.3

 

 

 

 

 

 

Accounts Payable

23.1

16.4

15.9

9.5

11.0

Accrued Expenses

0.6

0.4

0.1

0.3

0.2

Notes Payable/Short Term Debt

43.7

48.9

20.8

25.9

20.5

Current Portion - Long Term Debt/Capital Leases

10.8

10.3

5.3

13.4

7.0

    Customer Advances

3.5

4.0

1.4

1.2

0.5

    Security Deposits

0.2

0.2

0.2

0.2

0.3

    Income Taxes Payable

1.7

2.7

0.5

0.5

1.5

    Other Payables

20.1

10.8

9.2

6.6

7.8

    Deferred Income Tax - Current Liability

-

-

0.1

0.0

0.0

    Other Current Liabilities

2.4

0.4

0.5

0.5

1.0

Other Current liabilities, Total

27.9

18.2

12.0

9.1

11.2

Total Current Liabilities

106.0

94.2

54.1

58.2

49.8

 

 

 

 

 

 

    Long Term Debt

54.2

5.9

15.0

17.7

33.8

Total Long Term Debt

54.2

5.9

15.0

17.7

33.8

Total Debt

108.6

65.1

41.1

57.1

61.3

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

3.1

2.3

1.6

-

-

Deferred Income Tax

3.1

2.3

1.6

-

-

Minority Interest

0.7

0.6

-

-

-

    Pension Benefits - Underfunded

2.6

4.0

4.6

4.7

6.4

    Other Long Term Liabilities

9.3

1.3

0.8

0.4

1.1

Other Liabilities, Total

11.9

5.4

5.5

5.1

7.6

Total Liabilities

175.8

108.3

76.2

81.1

91.2

 

 

 

 

 

 

    Common Stock

11.3

11.5

11.2

10.3

13.9

Common Stock

11.3

11.5

11.2

10.3

13.9

Additional Paid-In Capital

6.9

6.7

8.6

8.0

10.8

Retained Earnings (Accumulated Deficit)

44.3

37.7

24.9

20.1

24.2

Treasury Stock - Common

-3.5

-3.1

-2.6

-2.2

-0.7

Unrealized Gain (Loss)

15.9

15.2

12.4

2.2

-

    Other Equity

0.0

0.0

-

-

-

    Other Comprehensive Income

0.0

0.0

-

-

-

Other Equity, Total

0.0

0.0

-

-

-

Total Equity

74.8

67.8

54.4

38.5

48.1

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

250.6

176.0

130.6

119.6

139.3

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

23.7

23.9

24.2

24.5

25.5

Total Common Shares Outstanding

23.7

23.9

24.2

24.5

25.5

Treasury Shares - Common Stock Primary Issue

2.3

2.1

1.8

1.5

0.5

Employees

446

421

413

529

519

Number of Common Shareholders

-

4,643

3,355

3,835

5,546

Accumulated Intangible Amort, Suppl.

2.4

2.2

-

-

-

Deferred Revenue - Current

3.5

4.0

1.4

1.2

0.5

Total Long Term Debt, Supplemental

64.9

-

20.3

41.1

26.1

Long Term Debt Maturing within 1 Year

10.8

-

5.3

13.4

5.2

Long Term Debt Maturing in Year 2

16.6

-

9.8

5.4

5.8

Long Term Debt Maturing in Year 3

12.2

-

3.1

12.4

5.5

Long Term Debt Maturing in Year 4

11.5

-

-

-

5.3

Long Term Debt Maturing in 2-3 Years

28.8

-

12.9

17.9

11.3

Long Term Debt Maturing in 4-5 Years

11.5

-

-

-

5.3

Long Term Debt Matur. in Year 6 & Beyond

13.8

-

2.1

9.8

4.4

 

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

1.7

0.8

1.9

12.9

5.7

    Short Term Investments

0.3

0.3

0.1

0.2

0.7

Cash and Short Term Investments

2.0

1.1

1.9

13.1

6.4

        Accounts Receivable - Trade, Gross

84.7

90.2

75.2

64.0

61.9

        Provision for Doubtful Accounts

-0.1

-0.1

-0.7

-0.9

-0.8

    Trade Accounts Receivable - Net

84.9

90.3

74.8

63.4

61.3

    Other Receivables

1.8

1.6

1.1

1.9

0.8

Total Receivables, Net

86.6

92.0

76.0

65.3

62.2

    Inventories - Finished Goods

2.8

2.5

2.4

2.7

2.1

    Inventories - Work In Progress

1.4

1.7

1.1

1.0

0.6

    Inventories - Raw Materials

11.6

12.9

4.8

6.7

3.6

    Inventories - Other

8.7

7.7

10.2

10.5

7.9

Total Inventory

24.5

24.7

18.5

20.9

14.2

Prepaid Expenses

5.8

3.4

8.6

7.3

4.9

    Other Current Assets

0.0

0.0

-

0.0

0.0

Other Current Assets, Total

0.0

0.0

-

0.0

0.0

Total Current Assets

118.9

121.1

105.0

106.5

87.6

 

 

 

 

 

 

        Buildings

47.9

46.7

35.1

38.6

37.5

        Land/Improvements

41.4

40.9

24.8

27.3

26.6

        Machinery/Equipment

105.3

102.3

97.1

106.6

94.9

        Construction in Progress

8.2

6.7

20.7

13.1

2.1

        Other Property/Plant/Equipment

0.0

0.0

0.0

0.0

0.0

    Property/Plant/Equipment - Gross

202.8

196.7

177.6

185.7

161.2

    Accumulated Depreciation

-103.7

-100.3

-96.1

-104.0

-91.0

Property/Plant/Equipment - Net

99.1

96.3

81.5

81.7

70.2

Goodwill, Net

6.3

6.2

7.2

7.9

7.7

Intangibles, Net

0.8

0.8

0.8

0.8

0.9

    LT Investment - Affiliate Companies

22.7

22.7

20.9

18.9

18.5

    LT Investments - Other

1.3

2.3

4.9

5.3

5.3

Long Term Investments

24.0

25.0

25.8

24.2

23.8

    Other Long Term Assets

1.1

1.1

1.1

0.9

0.8

Other Long Term Assets, Total

1.1

1.1

1.1

0.9

0.8

Total Assets

250.3

250.6

221.3

222.1

191.0

 

 

 

 

 

 

Accounts Payable

24.0

23.1

22.0

23.8

23.1

Accrued Expenses

0.8

0.6

0.5

0.6

0.5

Notes Payable/Short Term Debt

40.0

43.7

75.2

75.2

52.4

Current Portion - Long Term Debt/Capital Leases

14.9

10.8

3.6

5.4

4.8

    Dividends Payable

1.7

-

-

-

2.2

    Customer Advances

5.5

3.5

1.7

1.3

3.5

    Security Deposits

0.2

0.2

0.2

0.2

0.2

    Income Taxes Payable

2.3

1.7

1.4

1.2

2.3

    Other Payables

18.5

20.1

12.1

10.3

10.0

    Other Current Liabilities

1.1

2.4

2.0

0.4

0.3

Other Current liabilities, Total

29.3

27.9

17.5

13.4

18.5

Total Current Liabilities

109.1

106.0

118.9

118.4

99.2

 

 

 

 

 

 

    Long Term Debt

48.0

54.2

18.4

17.4

11.4

Total Long Term Debt

48.0

54.2

18.4

17.4

11.4

Total Debt

103.0

108.6

97.3

98.0

68.6

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

3.1

3.1

3.1

2.8

2.4

Deferred Income Tax

3.1

3.1

3.1

2.8

2.4

Minority Interest

0.7

0.7

0.7

0.8

0.8

    Pension Benefits - Underfunded

3.0

2.6

4.4

4.7

4.4

    Other Long Term Liabilities

9.5

9.3

4.4

1.2

1.2

Other Liabilities, Total

12.5

11.9

8.8

5.9

5.6

Total Liabilities

173.4

175.8

149.9

145.3

119.4

 

 

 

 

 

 

    Common Stock

11.4

11.3

11.0

12.2

11.9

Common Stock

11.4

11.3

11.0

12.2

11.9

Additional Paid-In Capital

7.0

6.9

6.7

7.4

7.2

Retained Earnings (Accumulated Deficit)

46.0

44.3

41.2

45.3

40.5

Treasury Stock - Common

-3.6

-3.5

-3.5

-3.8

-3.4

Unrealized Gain (Loss)

2.3

15.9

15.9

15.7

15.5

    Other Equity

0.0

0.0

0.0

0.0

0.0

    Other Comprehensive Income

13.9

-

-

-

-

Other Equity, Total

13.9

0.0

0.0

0.0

0.0

Total Equity

76.9

74.8

71.4

76.8

71.6

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

250.3

250.6

221.3

222.1

191.0

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

23.7

23.7

23.7

23.7

23.8

Total Common Shares Outstanding

23.7

23.7

23.7

23.7

23.8

Treasury Shares - Common Stock Primary Issue

2.3

2.3

2.3

2.3

2.2

Employees

453

446

450

441

418

Accumulated Intangible Amort, Suppl.

2.5

2.4

2.4

0.2

2.4

Deferred Revenue - Current

5.5

3.5

1.7

1.3

3.5

Total Long Term Debt, Supplemental

62.9

64.9

22.1

22.8

16.2

Long Term Debt Maturing within 1 Year

14.9

10.8

3.6

5.4

4.8

Long Term Debt Maturing in Year 2

12.6

16.6

7.0

7.9

3.9

Long Term Debt Maturing in Year 3

10.4

12.2

1.9

2.5

1.3

Long Term Debt Maturing in Year 4

-

11.5

-

-

-

Long Term Debt Maturing in 2-3 Years

23.0

28.8

8.9

10.3

5.2

Long Term Debt Maturing in 4-5 Years

-

11.5

-

-

-

Long Term Debt Matur. in Year 6 & Beyond

25.0

13.8

9.6

7.0

6.2

 

 

 

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

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

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

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

9.5

12.9

3.3

3.6

7.4

    Depreciation

8.1

8.3

8.0

9.2

11.9

Depreciation/Depletion

8.1

8.3

8.0

9.2

11.9

    Amortization of Intangibles

0.3

0.5

0.5

0.7

1.7

    Amortization of Acquisition Costs

-

-

0.0

0.0

0.0

Amortization

0.3

0.5

0.5

0.7

1.7

Deferred Taxes

-

-

0.3

-0.4

-0.5

    Unusual Items

0.2

0.1

0.1

0.9

2.8

    Equity in Net Earnings (Loss)

-0.3

-3.2

0.6

2.3

-

    Other Non-Cash Items

12.5

8.9

0.1

4.9

2.0

Non-Cash Items

12.4

5.8

0.8

8.2

4.8

    Accounts Receivable

-36.2

-12.7

-3.9

-3.1

2.3

    Inventories

-11.1

-3.0

-0.7

-1.7

-0.2

    Prepaid Expenses

-

-

-0.8

1.4

1.9

    Other Assets

-1.2

-0.4

-

-0.1

-

    Accounts Payable

25.5

1.2

5.7

-0.1

-0.2

    Accrued Expenses

-

-

-0.2

0.2

0.0

    Taxes Payable

-

-

0.0

-0.7

1.4

    Other Liabilities

-4.5

-0.5

-1.3

1.3

-1.6

    Other Operating Cash Flow

-8.2

-4.2

-

-

-

Changes in Working Capital

-35.7

-19.5

-1.2

-2.8

3.5

Cash from Operating Activities

-5.4

7.9

11.7

18.6

28.8

 

 

 

 

 

 

    Purchase of Fixed Assets

-39.6

-4.2

-2.1

-10.2

-12.7

    Purchase/Acquisition of Intangibles

-

-

-

-0.2

-0.7

Capital Expenditures

-39.6

-4.2

-2.1

-10.5

-13.4

    Sale of Fixed Assets

1.0

0.4

0.6

1.5

0.1

    Sale/Maturity of Investment

28.1

2.0

2.1

0.9

0.7

    Investment, Net

0.0

0.0

-

-

-

    Purchase of Investments

-33.0

-11.7

-2.7

-12.0

-1.0

    Sale of Intangible Assets

-

-

-

0.2

0.4

    Other Investing Cash Flow

-0.6

-0.2

2.2

0.9

0.0

Other Investing Cash Flow Items, Total

-4.5

-9.4

2.1

-8.5

0.2

Cash from Investing Activities

-44.1

-13.6

0.0

-18.9

-13.2

 

 

 

 

 

 

    Other Financing Cash Flow

-

-

-0.6

0.7

0.4

Financing Cash Flow Items

-

-

-0.6

0.7

0.4

    Cash Dividends Paid - Common

-2.2

-0.8

-0.5

-1.2

-0.7

Total Cash Dividends Paid

-2.2

-0.8

-0.5

-1.2

-0.7

        Sale/Issuance of Common

0.5

-

-

-

0.8

        Repurchase/Retirement of Common

-0.4

-0.4

-0.3

-1.9

-

    Common Stock, Net

0.1

-0.4

-0.3

-1.9

0.8

Issuance (Retirement) of Stock, Net

0.1

-0.4

-0.3

-1.9

0.8

        Short Term Debt Issued

169.5

77.4

36.2

10.5

2.0

        Short Term Debt Reduction

-175.2

-59.8

-42.8

-

-14.9

    Short Term Debt, Net

-5.7

17.6

-6.7

10.5

-13.0

        Long Term Debt Issued

62.9

-

1.7

5.2

9.7

        Long Term Debt Reduction

-12.0

-5.6

-13.6

-5.7

-10.3

    Long Term Debt, Net

50.9

-5.6

-11.9

-0.5

-0.6

Issuance (Retirement) of Debt, Net

45.2

12.0

-18.5

10.0

-13.6

Cash from Financing Activities

43.1

10.7

-19.8

7.7

-13.0

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

-

-

-

Net Change in Cash

-6.4

5.1

-8.0

7.3

2.6

 

 

 

 

 

 

Net Cash - Beginning Balance

7.4

2.0

9.8

4.1

2.2

Net Cash - Ending Balance

0.9

7.0

1.8

11.4

4.8

Cash Interest Paid

4.6

3.2

-

-

-

Cash Taxes Paid

3.8

1.2

-

-

-

 

 

 

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

Reclassified Normal 
31-Mar-2012

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

2.8

9.5

7.5

7.3

3.6

    Depreciation

2.2

8.1

6.1

4.1

2.0

Depreciation/Depletion

2.2

8.1

6.1

4.1

2.0

    Amortization of Intangibles

0.0

0.3

0.3

0.2

0.5

Amortization

0.0

0.3

0.3

0.2

0.5

    Unusual Items

-0.7

0.2

-0.1

-1.1

0.0

    Equity in Net Earnings (Loss)

0.3

-0.3

-1.8

-

-0.8

    Other Non-Cash Items

2.5

12.5

10.3

4.3

2.1

Non-Cash Items

2.2

12.4

8.4

3.2

1.2

    Accounts Receivable

6.6

-36.2

-27.0

-6.8

0.5

    Inventories

0.5

-11.1

-2.2

-3.4

0.4

    Prepaid Expenses

-2.4

-

-

-

-2.4

    Other Assets

-

-1.2

-3.7

-4.5

-

    Accounts Payable

-1.2

25.5

8.4

5.0

4.9

    Taxes Payable

0.0

-

-

-

-

    Other Liabilities

1.6

-4.5

-1.5

-3.4

-1.0

    Other Assets & Liabilities, Net

-0.5

-

-

-

-

    Other Operating Cash Flow

-1.5

-8.2

-8.7

-4.3

-2.0

Changes in Working Capital

3.1

-35.7

-34.5

-17.5

0.3

Cash from Operating Activities

10.4

-5.4

-12.3

-2.7

7.5

 

 

 

 

 

 

    Purchase of Fixed Assets

-3.9

-39.6

-24.6

-14.5

-6.5

    Purchase/Acquisition of Intangibles

-

-0.1

-0.1

0.0

-

Capital Expenditures

-3.9

-39.7

-24.7

-14.6

-6.5

    Acquisition of Business

-

-

-5.2

-

-

    Sale of Fixed Assets

0.2

1.0

0.2

0.2

0.1

    Sale/Maturity of Investment

1.1

28.1

6.8

6.6

1.9

    Investment, Net

-

0.0

-

-

-

    Purchase of Investments

-0.1

-32.8

-5.8

-10.0

-5.9

    Other Investing Cash Flow

-0.1

-0.6

-0.5

-0.2

-0.1

Other Investing Cash Flow Items, Total

1.1

-4.4

-4.5

-3.3

-4.0

Cash from Investing Activities

-2.8

-44.1

-29.2

-17.8

-10.6

 

 

 

 

 

 

    Other Financing Cash Flow

-

-

0.3

0.4

-

Financing Cash Flow Items

-

-

0.3

0.4

-

    Cash Dividends Paid - Common

-

-2.2

-2.2

-2.2

-

Total Cash Dividends Paid

-

-2.2

-2.2

-2.2

-

        Sale/Issuance of Common

-

0.5

-

-

-

        Repurchase/Retirement of Common

-

-0.4

-0.4

-0.4

-0.1

    Common Stock, Net

-

0.1

-0.4

-0.4

-0.1

Issuance (Retirement) of Stock, Net

-

0.1

-0.4

-0.4

-0.1

        Short Term Debt Issued

19.0

169.5

132.6

72.4

22.4

        Short Term Debt Reduction

-23.0

-175.2

-101.1

-49.9

-20.1

    Short Term Debt, Net

-4.0

-5.7

31.5

22.5

2.3

        Long Term Debt Issued

0.2

62.9

16.8

16.1

6.1

        Long Term Debt Reduction

-3.0

-12.0

-1.8

-10.7

-6.6

    Long Term Debt, Net

-2.8

50.9

15.0

5.4

-0.6

    Total Debt Reduction

-

-

-8.1

-

-

Issuance (Retirement) of Debt, Net

-6.8

45.2

38.4

27.9

1.8

Cash from Financing Activities

-6.8

43.1

36.1

25.7

1.6

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

0.1

0.0

-0.1

Net Change in Cash

0.8

-6.4

-5.4

5.2

-1.5

 

 

 

 

 

 

Net Cash - Beginning Balance

0.9

7.4

7.4

7.4

7.3

Net Cash - Ending Balance

1.7

0.9

2.1

12.6

5.8

Cash Interest Paid

1.4

4.6

3,175.3

1.9

1.0

Cash Taxes Paid

0.2

3.8

5.5

2.5

1.1

 

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

Reclassified Normal 
31-Dec-2009

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

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Finished Product Revenues

-

-

91.3

146.9

194.2

    Other Revenues

-

-

7.3

12.6

3.9

    Sales Revenue

195.7

159.7

-

-

-

Total Revenue

195.7

159.7

98.7

159.5

198.1

 

 

 

 

 

 

    Cost of Finish. Good

-

-

78.0

117.1

157.8

    Cost of Other Sales

-

-

5.9

12.3

3.4

    Costs of Goods and Services Sold

159.6

132.4

-

-

-

    Salaries and Wages

5.4

4.4

3.1

3.6

4.4

    Retirement and Severance Benefits

0.7

0.2

0.2

0.3

0.3

    Employee Benefits

1.1

0.8

0.4

0.8

0.9

    Travel Expenses

0.6

0.3

0.1

0.4

0.5

    Communication Expenses

0.2

0.1

0.1

0.1

0.1

    Repair & Maintenance Expenses

0.3

0.2

0.1

0.3

0.3

    Insurance Expenses

0.0

0.0

0.0

0.0

0.0

    Shipping and Handling Expenses

4.5

3.1

2.4

6.1

7.5

    Taxes and Dues

0.4

0.3

0.3

0.3

0.6

    Commissions

1.5

0.8

0.5

0.6

0.7

    Entertainment Expenses

0.6

0.4

0.2

0.4

0.4

    Depreciation

0.9

0.7

0.6

1.0

1.3

    Amortization of Intangible Assets

0.3

0.5

0.5

0.7

1.7

    Consumable Expense

0.3

0.1

0.0

0.1

0.1

    Publication Expenses

0.0

0.0

0.0

0.0

0.0

    Advertising Expense

0.0

0.0

0.0

0.0

0.0

    Vehicle Maintenance Expenses

0.2

0.1

0.1

0.1

0.2

    Services Expenses

0.4

0.2

0.1

0.3

0.3

    Maintenance Expense

-

-

0.0

-

-

    Overseas Market Development Expense

-

-

-

-

0.1

    Education & Training

0.1

0.0

0.0

0.0

0.1

    Expenses of Allowance for Doubtful Accou

-0.6

0.0

-0.5

1.2

0.0

    Development Costs

2.5

1.3

0.8

1.9

1.3

    Utility Expenses

0.0

0.0

0.0

0.0

0.0

    Rental Expenses

0.0

0.0

0.0

-

0.0

    Miscellaneous Expenses

0.0

0.0

0.0

0.0

0.0

    Adjustment for Selling and Administrativ

-

-

-

-

-

Total Operating Expense

179.0

146.4

93.2

147.9

182.2

 

 

 

 

 

 

    Interest Income

0.2

0.3

0.4

0.3

0.3

    Gain on Foreign Currency Transactions

0.9

0.3

0.1

0.5

0.0

    Gain on Foreign Currency Translations

0.5

0.2

0.4

0.6

0.0

    Gain on Disposal of Property, Plant and

1.0

0.1

0.3

0.0

0.0

    Government Subsidy

0.0

0.3

0.0

0.2

0.2

    Gain on Derivatives Transaction

0.0

-

-

-

-

    Recovery-Negative Goodwill Amortization

-

-

0.0

0.0

0.0

    Recovery of Loan Loss Reserve

-

-

-

-

0.0

    Gain-Prior Period Error Correction

-

-

-

0.0

0.2

    Miscellaneous Income

5.6

3.7

2.5

2.2

0.6

    Gain-Disposal of Investment Assets

-

-

0.0

0.0

0.2

    Interest Expenses

-4.8

-3.2

-3.2

-4.3

-4.8

    Loss on Derivative Transaction

-1.2

-

-

-

-

    Loss on Valuation of Derivatives

-1.9

-

-

-

-

    Loss-Currency Forwards Transaction

-

-

-

0.0

-

    Loss on Foreign Currency Transactions

-0.7

-0.3

-0.3

-0.2

-0.1

    Loss on Foreign Currency Translations

-1.2

-0.1

-0.1

-1.7

-0.1

    Loss on Disposal of Property, Plant and

0.0

-0.1

0.0

0.0

0.0

    Loss on Disposal of Accounts Receivab

-

-

-0.4

-0.8

-1.0

    Loss-Reduct. of Sec. Available-Sale

-

-

0.0

-

-

    Loss on Reduction of Tangible Assets

-

-

-

-

-2.0

    Impairment Loss on Intangible Assets

-1.2

-

-

-

-

    Additional Income Taxes Paid

-

-

-

-

-0.1

    Donations Paid

-0.1

-0.1

0.0

-0.1

-0.1

    Compensations Expenses Associated with S

-0.1

-

-

-

-

    Miscellaneous Loss

-1.4

-0.8

-0.5

-1.1

-0.7

    Loss-Prior Period Error Correction

-

-

-

0.0

0.0

    Loss-Disposal of Investment Assets

-

-0.1

0.0

-0.1

-

    L-Equity Method Valuation

-

-

-0.6

-2.3

-

    Gain on Investments in Jointly Controlle

0.8

3.2

-

-

-

    Loss on Investments in Jointly Controlle

-0.5

-

-

-

-

    Adjustment for Finance Income

0.0

0.0

-

-

-

    Adjustment for Other Non-Operating Incom

0.0

0.0

-

-

-

    Adjustment for Finance Expense

0.0

0.0

-

-

-

    Adjustment for Other Non-Operating Expen

0.0

0.0

-

-

-

Net Income Before Taxes

12.8

16.8

4.2

4.9

8.5

 

 

 

 

 

 

Provision for Income Taxes

3.3

3.9

0.8

1.2

1.1

Net Income After Taxes

9.5

12.9

3.3

3.6

7.4

 

 

 

 

 

 

    Minority Interest

0.1

0.1

-

-

0.0

Net Income Before Extra. Items

9.6

12.9

3.3

3.6

7.4

Net Income

9.6

12.9

3.3

3.6

7.4

 

 

 

 

 

 

Income Available to Com Excl E

9.6

12.9

3.3

3.6

7.4

 

 

 

 

 

 

Income Available to Com Incl E

9.6

12.9

3.3

3.6

7.4

 

 

 

 

 

 

Basic Weighted Average Shares

23.8

24.0

24.4

24.8

25.4

Basic EPS Excluding ExtraOrdin

0.40

0.54

0.14

0.15

0.29

Basic EPS Including ExtraOrdin

0.40

0.54

0.14

0.15

0.29

Dilution Adjustment

0.1

0.0

-

0.0

-

Diluted Net Income

9.7

12.9

3.3

3.6

7.4

Diluted Weighted Average Share

24.0

24.0

24.4

24.8

25.4

Diluted EPS Excluding ExtraOrd

0.40

0.54

0.14

0.15

0.29

Diluted EPS Including ExtraOrd

0.40

0.54

0.14

0.15

0.29

DPS-Common Stock

0.07

0.09

0.03

0.02

0.05

Gross Dividends - Common Stock

1.7

2.1

0.8

0.6

1.4

Normalized Income Before Taxes

11.9

16.8

3.9

4.9

8.5

 

 

 

 

 

 

Inc Tax Ex. Impact of Sp Items

3.0

3.9

0.8

1.2

1.1

Normalized Income After Taxes

8.8

12.9

3.1

3.6

7.4

 

 

 

 

 

 

Normalized Inc. Avail to Com.

8.9

12.9

3.1

3.6

7.4

 

 

 

 

 

 

Basic Normalized EPS

0.37

0.54

0.13

0.15

0.29

Diluted Normalized EPS

0.37

0.54

0.13

0.15

0.29

Interest Expense

4.8

3.2

3.2

4.3

4.8

R&D Expense, Supplemental

2.5

1.3

0.8

1.9

1.3

Advertising Expense

0.0

0.0

0.0

0.0

0.0

Rental Expense

0.0

0.0

0.0

-

0.0

Depreciation

8.1

8.3

8.0

9.2

11.9

Amort of Intangibles, Suppleme

0.3

0.5

0.5

0.7

1.7

Amort of Negative Goodwill

-

-

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

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1145.271505

1082.999462

1083.436022

1120.28956

 

 

 

 

 

 

    Sales Revenue

52.2

51.7

50.2

48.1

45.6

Total Revenue

52.2

51.7

50.2

48.1

45.6

 

 

 

 

 

 

    Costs of Goods and Services Sold

44.0

43.3

40.8

38.9

36.5

    Selling and Administrative Expenses

5.1

4.7

5.0

4.9

4.9

Total Operating Expense

49.2

48.0

45.8

43.8

41.4

 

 

 

 

 

 

    Finance Income

0.9

0.0

0.0

0.2

-

    Interest Income

-

-

-

-

0.1

    Other Non-Operating Income

2.5

3.4

2.6

1.1

0.8

    Finance Expense

-1.6

-0.2

-5.7

-

-

    Interest Expenses

-

-

-

-1.1

-1.0

    Other Non-Operating Expense

-0.9

-1.7

-1.8

-0.5

-0.5

    Gain under Equity Method

-

-1.0

0.8

0.2

0.8

    Loss under Equity Method

-0.3

-0.5

-

-

-

Net Income Before Taxes

3.5

3.8

0.4

4.1

4.3

 

 

 

 

 

 

Provision for Income Taxes

0.7

1.7

0.3

0.4

0.7

Net Income After Taxes

2.8

2.1

0.1

3.7

3.6

 

 

 

 

 

 

    Minority Interest

0.0

0.0

0.0

0.0

0.0

Net Income Before Extra. Items

2.8

2.2

0.1

3.7

3.6

Net Income

2.8

2.2

0.1

3.7

3.6

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

2.8

2.2

0.1

3.7

3.6

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

2.8

2.2

0.1

3.7

3.6

 

 

 

 

 

 

Basic Weighted Average Shares

23.7

23.7

23.7

23.8

23.9

Basic EPS Excluding ExtraOrdinary Items

0.12

0.09

0.01

0.15

0.15

Basic EPS Including ExtraOrdinary Item

0.12

0.09

0.01

0.15

0.15

Dilution Adjustment

0.0

0.0

-

-

0.0

Diluted Net Income

2.9

2.2

0.1

3.7

3.6

Diluted Weighted Average Shares

24.1

24.1

24.1

24.1

23.9

Diluted EPS Excluding ExtraOrd Items

0.12

0.09

0.01

0.15

0.15

Diluted EPS Including ExtraOrd Items

0.12

0.09

0.01

0.15

0.15

DPS-Common Stock

0.00

0.07

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

1.7

0.0

0.0

0.0

Normalized Income Before Taxes

3.5

3.8

0.4

4.1

4.3

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

0.7

1.7

0.3

0.4

0.7

Normalized Income After Taxes

2.8

2.1

0.1

3.7

3.6

 

 

 

 

 

 

Normalized Inc. Avail to Com.

2.8

2.2

0.1

3.7

3.6

 

 

 

 

 

 

Basic Normalized EPS

0.12

0.09

0.01

0.15

0.15

Diluted Normalized EPS

0.12

0.09

0.01

0.15

0.15

Interest Expense, Supplemental

1.6

1.3

1.4

1.1

1.0

Rental Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

Advertising Expense, Supplemental

0.0

0.0

0.0

0.0

0.0

Research & Development Exp, Supplemental

0.4

0.6

0.6

0.3

0.9

Depreciation, Supplemental

2.2

2.0

2.0

2.1

2.0

Amort of Intangibles, Supplemental

0.0

0.0

0.0

0.1

0.5

 

 

 

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

Restated Normal 
31-Dec-2009

Reclassified Normal 
31-Dec-2008

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Cash Equivalents

0.9

7.2

1.7

9.1

4.5

    Cash & Cash Equivalents-Government Subsi

-0.1

-0.2

-

-

-

    Current Financial Instruments

0.3

0.7

-

-

-

    Securities held to Maturities

-

-

0.2

0.0

0.0

    ST Financial Assets

-

-

0.0

0.1

0.0

    Trade Receivables, Gross

90.2

59.9

34.2

26.4

29.9

    Allowance for Doubtful Accounts for Trad

-0.1

-0.7

-0.8

-1.2

-0.4

    Account Receivables

1.6

1.2

0.3

0.2

0.9

    Accrued Income

0.3

0.3

0.2

0.2

0.1

    Advance Payments

7.7

4.3

6.9

6.0

4.9

    Prepaid Expenses

0.4

0.2

0.1

0.1

0.1

    Current Loans

0.0

0.0

0.0

2.0

0.0

    Currency Futures, Current Assets

-

-

-

0.0

-

    Prepaid Income Taxes

0.0

0.0

0.0

0.2

0.0

    Prepaid Value Added Taxes

3.0

2.1

1.7

0.8

2.7

    Finished Goods

2.5

2.3

1.9

1.1

2.4

    Works in Process

1.7

0.5

0.4

0.2

0.4

    Raw Materials

12.9

3.8

0.8

1.1

1.9

    Adjustment for Trade & Other Receivables

-

0.0

-

-

-

    Adjustment for Inventories

-

0.0

-

-

-

    Adjustment for Other Current Assets

0.0

0.0

-

-

-

Total Current Assets

121.1

81.4

47.6

46.4

47.7

 

 

 

 

 

 

    Non-Current Financial Instruments

2.2

5.3

2.1

1.1

1.2

    Securities Available for Sale

-

-

-

0.0

0.0

    Other Non-Current Investment Assets

0.0

0.0

0.0

0.0

0.2

    Restricted Bank Deposit

-

-

0.6

0.8

3.2

    Securities Held to Maturities

-

-

0.0

0.2

0.2

    Investment in Joint Ventures

22.7

13.4

9.5

10.3

-

    Guarantee Deposits

-

-

0.4

0.4

0.5

    Condo Membership Rights

0.0

0.0

-

-

-

    Guarantee Deposits, Non-Current Assets

1.1

0.7

-

-

-

    Deposit-Group Retirement Insurance

-

-

0.0

0.0

0.0

    Deferred Income Tax-Debit

-

-

-

1.0

2.1

    Membership Right

-

-

0.8

-

-

    Lands

40.9

25.7

25.1

10.5

14.2

    Buildings

36.3

25.9

25.3

23.5

27.9

    Buildings-Depreciation

-13.7

-12.5

-10.9

-8.9

-10.6

    Structures

10.5

10.4

10.0

9.2

12.4

    Structures-Depreciation

-6.8

-6.4

-5.8

-4.9

-5.8

    Structures-Reduction

-0.1

-0.1

-0.1

-0.1

-0.1

    Machineries & Equipments

74.6

72.2

66.5

61.2

72.7

    Machineries & Equipments-Depreciation

-55.1

-51.2

-45.1

-37.3

-45.6

    Machineries & Equipments-Reduction

-0.8

-0.8

-0.8

-0.8

-1.1

    Vehicles

0.8

0.9

0.8

0.7

1.2

    Vehicles-Depreciation

-0.5

-0.6

-0.7

-0.6

-0.9

    Tools/Equipments

24.0

23.1

22.1

19.5

24.3

    Tools & Equipments-Depreciation

-20.6

-20.0

-18.5

-15.4

-18.1

    Tools & Equipments-Reduction Loss Provis

-0.8

-0.8

-0.8

-0.7

-1.0

    Fixtures

4.6

4.1

3.8

3.0

3.8

    Fixtures-Depreciation

-3.7

-3.5

-3.1

-2.7

-3.4

    Construction in Progress

6.7

0.5

1.1

1.0

3.4

    Development Costs

-

0.2

0.7

1.0

2.1

    Membership Right

-

-

-

0.9

1.3

    Goodwill

6.2

7.4

-

-

-

    Negative Goodwill

-

-

-0.1

-0.1

-0.2

    Facilities Usage Rights

0.7

0.7

-

-

-

    Other Intangible Assets

0.1

0.1

0.1

0.1

0.3

    Machines in Transit

-

-

-

-

7.3

    Adjustment for Property, Plant & Equipme

0.0

0.0

-

-

-

    Adjustment for Intangible Assets

0.0

0.0

-

-

-

    Adjustment for Other Non-Current Assets

0.0

0.0

-

-

-

Total Assets

250.6

176.0

130.6

119.6

139.3

 

 

 

 

 

 

    Current Trade Payables

23.1

16.4

15.9

9.5

11.0

    Current Borrowings

43.7

48.9

20.8

25.9

20.5

    Other Payables

20.1

10.8

9.2

6.6

7.8

    Withholdings

0.4

0.2

0.4

0.4

0.8

    Accrued Expenses

0.6

0.4

0.1

0.3

0.2

    Current Tax Liabilities

1.7

2.7

0.5

0.5

1.5

    Guarantee Deposits Withholdings, Current

0.2

0.2

0.2

0.2

0.3

    Reserve for Current Liabilities

0.2

0.2

0.2

0.1

0.2

    Advance from Customers, Current Liabilit

3.5

4.0

1.4

1.2

0.5

    Current Portion of Long-term Borrowings

10.8

10.3

5.3

13.4

7.0

    Deferred Income Tax Credits

-

-

0.1

0.0

0.0

    Current Financial Liabilities

1.8

-

-

-

-

    Adjustment for Current Trade & Other Pay

0.0

0.0

-

-

-

    Value Added Taxes Withholdings

0.0

-

-

-

-

    Adjustment for Other Current Liabilities

0.0

0.0

-

-

-

Total Current Liability

106.0

94.2

54.1

58.2

49.8

 

 

 

 

 

 

    Non-Current Borrowings

54.2

5.9

15.0

17.4

20.9

    Bonds

-

-

-

0.3

12.9

Total Long Term Debt

54.2

5.9

15.0

17.7

33.8

 

 

 

 

 

 

    Non-Current Other Payables

9.3

1.3

0.8

0.4

1.1

    Minority Interests

0.7

0.6

-

-

-

    Deferred Income Taxes, Non-Current Liabi

3.1

2.3

1.6

-

-

    Retirement Resrv

-

-

5.1

5.2

6.4

    Deposit-Retirement Insurance

-

-

-0.4

-0.4

-

    Transfer to National Pension Fund

-

-

0.0

-0.1

-

    Retirement & Severance Benefits, Non-Cur

2.6

4.0

-

-

-

Total Liabilities

175.8

108.3

76.2

81.1

91.2

 

 

 

 

 

 

    Common Stock

11.3

11.5

11.2

10.3

13.9

    Additional Paid in Capital

4.0

4.1

4.0

3.7

4.9

    Other Capital Surplus

2.9

2.6

4.7

4.3

5.8

    Appropriated Retained Earnings for Legal

1.3

1.1

0.9

0.7

0.8

    Reserve for Business Stabilizations

2.4

2.4

-

-

-

    Reserves for Financial Structure Improve

1.2

1.2

-

-

-

    Voluntary Reserve

-

-

19.6

15.8

15.3

    Other Voluntary Reserves

27.1

19.6

-

-

-

    Retained Earnings Carried Forward

12.3

13.4

4.4

3.6

8.1

    Treasury Stock

-3.5

-3.1

-2.6

-2.2

-0.7

    Reserve for Assets Revaluation

2.2

2.3

-

-

-

    Revaluation Surplus

10.8

11.0

-

-

-

    Revaluation Retained Earnings

-

-

10.7

-

-

    Discounts on Stock Issuance

0.0

0.0

-

-

-

    Gain-Valuation of Currency Futures

-

-

-

0.0

-

    Capital Change, Equity Method

2.9

1.9

1.7

2.2

-

    Adjustment for Capital Surplus

-

0.0

-

-

-

    Adjustment for Capital Adjustment

0.0

-

-

-

-

    Adjustment for Accumulated Other Compreh

0.0

0.0

-

-

-

    Adjustment for Retained Earnings or Accu

0.0

0.0

-

-

-

Total Equity

74.8

67.8

54.4

38.5

48.1

 

 

 

 

 

 

Total Liabilities & Shareholde

250.6

176.0

130.6

119.6

139.3

 

 

 

 

 

 

    S/O-Common Stock

23.7

23.9

24.2

24.5

25.5

Total Common Shares Outstandin

23.7

23.9

24.2

24.5

25.5

T/S-Common Stock

2.3

2.1

1.8

1.5

0.5

Deferred Revenue, Current

3.5

4.0

1.4

1.2

0.5

Deferred Revenue - Current

2.4

2.2

-

-

-

Full-Time Employees

446

421

413

529

519

Number of Common Shareholders

-

4,643

3,355

3,835

5,546

LT Debt 1 yr

10.8

-

5.3

13.4

5.2

LT Debt 2 yrs

16.6

-

9.8

5.4

5.8

LT Debt 3 yrs

12.2

-

3.1

12.4

5.5

LT Debt 4 yrs

11.5

-

-

-

5.3

LT Debt thereafter

13.8

-

2.1

9.8

4.4

Total Long Term Debt, Supplemental

64.9

-

20.3

41.1

26.1

 

 

 

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 Cash Equivalents

1.7

0.9

1.9

13.0

5.9

    Cash & Cash Equivalents-Government Subsi

-0.1

-0.1

-0.1

-0.1

-0.2

    Deposits by Savings

0.3

-

-

-

-

    Trade Receivables, Gross

84.7

90.2

75.2

64.0

61.9

    Allowance for Doubtful Accounts for Trad

-0.1

-0.1

-0.7

-0.9

-0.8

    Account Receivables

1.7

1.6

1.2

1.9

0.9

    Allowance for Doubtful Accounts for Othe

0.0

-

0.0

0.0

-

    Adjustment-Trade and Other Receivables

-

-

-

-

-0.1

    Advance Payments

8.8

7.7

10.3

10.7

8.0

    Allowance for Doubtful Accounts for Adva

-0.1

-

-0.2

-0.2

-0.2

    Short-term Loans

0.0

0.0

0.0

0.0

0.0

    Adjsutment for Trade and Other Receivabl

0.0

-

-

-

0.0

    Finished Goods

2.8

2.5

2.4

2.7

2.1

    Works in Process

1.4

1.7

1.1

1.0

0.6

    Raw Materials

11.6

12.9

4.8

6.7

3.6

    Adjustment for Inventory

0.0

-

0.0

0.0

0.0

    Other Current Financial Instruments

-

0.3

0.0

0.2

0.7

    Current Held-to-Maturity Invement Assets

0.0

-

0.0

0.0

0.0

    Prepaid Expenses

0.4

0.4

0.2

0.2

0.1

    Prepaid Value Added Tax

5.4

3.0

5.4

6.9

4.7

    Accrued Income

0.3

0.3

0.3

0.3

0.3

    Prepaid Income Taxes

0.0

0.0

3.0

0.2

0.0

    Adjustment for Other Current Non-Financi

0.0

0.0

-

0.0

0.0

    Adjustment for Financial Assets

-

-

-

0.0

-

Total Current Assets

118.9

121.1

105.0

106.5

87.6

 

 

 

 

 

 

    Equity Method Securities

22.7

22.7

20.9

18.9

18.5

    Other Non-Current Financial Instruments

-

2.2

4.8

5.2

5.2

    Non-Current Financial Instruments

1.2

-

-

-

-

    LT Held-to-Maturity Investments

0.0

-

0.0

0.0

0.0

    Adjustment for Other Non-Current Financi

0.0

-

0.0

-

0.0

    Other Non-Current Investment Assets

0.1

0.0

-

-

-

    Land

41.4

40.9

24.8

27.3

26.6

    Buildings

36.7

36.3

25.0

27.6

26.8

    Accumulated Depreciation for Buildings

-14.4

-13.7

-13.0

-14.0

-13.2

    Structures

11.2

10.5

10.1

11.1

10.8

    Accumulated Depreciation for Structures

-7.0

-6.8

-6.5

-7.1

-6.8

    Accumulated Impairment Losses for Struct

-0.1

-0.1

-0.1

-0.1

-0.1

    Machinery

76.5

74.6

70.9

78.1

71.7

    Accumulated Depreciation for Machinery

-56.9

-55.1

-52.8

-57.0

-50.2

    Accumulated Impairment Losses for Machin

-0.8

-0.8

-0.8

-0.9

-0.9

    Vehicles & Transportation Equipment

0.8

0.8

0.7

0.8

0.9

    Accumulated Depreciation for Vehicles

-0.5

-0.5

-0.4

-0.4

-0.5

    Tools & Equipments

25.0

24.0

22.9

25.0

19.7

    Accumulated Depreciation for Tools

-21.2

-20.6

-20.0

-21.8

-16.5

    Tools & Equipments-Reduction

-0.8

-0.8

-0.8

-0.8

-0.8

    Fixtures

4.7

4.6

4.1

4.5

4.3

    Accumulated Depreciation for Office Equi

-3.8

-3.7

-3.5

-3.8

-3.6

    Construction in Progress

8.2

6.7

20.7

13.1

2.1

    Adjustment for Tangible Assets

0.0

0.0

0.0

0.0

0.0

    Goodwill

6.3

6.2

7.2

7.9

7.7

    Development Costs

-

-

-

-

0.1

    Usage Right-Facility

0.7

0.7

0.7

0.7

0.7

    Other Intangible Assets

0.1

0.1

0.1

0.1

0.1

    Adjustment for Intangible Assets

0.0

0.0

0.0

0.0

0.0

    Membership Right

0.0

0.0

0.0

0.0

0.0

    Deposits Provided

1.1

1.1

1.1

0.9

0.8

    Adjustment for Other Non-Current Non-Fin

0.0

0.0

0.0

0.0

0.0

    Adjustment for Long-term Financial asset

-

-

-

0.0

-

Total Assets

250.3

250.6

221.3

222.1

191.0

 

 

 

 

 

 

    Current Borrowings

40.0

43.7

75.2

75.2

52.4

    Current Portion of Long-term Borrowings

14.9

10.8

3.6

5.4

4.8

    Current Tax Liabilities

2.3

1.7

-

1.2

2.3

    Provision for Current Liabilities

0.2

0.2

0.2

0.2

0.2

    Trade Payable

24.0

23.1

22.0

23.8

23.1

    Other Payables

18.5

20.1

12.1

10.3

10.0

    Accrued Expenses

0.8

0.6

0.5

0.6

0.5

    Value Added Taxes Withholdings

-

0.0

-

-

-

    Adjustment for Current Trade & Other Pay

0.0

0.0

0.0

0.0

-

    Withholdings

0.1

0.4

1.9

0.2

0.1

    Dividend Payables

1.7

-

-

-

2.2

    Security Deposit Withheld

0.2

0.2

0.2

0.2

0.2

    Advance from Customers

5.5

3.5

1.7

1.3

3.5

    Adjustment for Other Current Non-Financi

-

0.0

0.0

0.0

0.0

    Income Tax Payable

-

-

1.4

-

-

    Other Current Financial Liabilities

0.9

1.8

-

-

-

Total Current Liabilities

109.1

106.0

118.9

118.4

99.2

 

 

 

 

 

 

    Long-term Borrowings

48.0

54.2

18.4

17.4

11.4

Total Long Term Debt

48.0

54.2

18.4

17.4

11.4

 

 

 

 

 

 

    Non-Current Other Payables

9.5

9.3

1.1

1.2

1.2

    Retirement & Severance Benefits, Non-Cur

3.0

2.6

4.4

4.7

4.4

    Deferred Income Taxes Liabilities

3.1

3.1

3.1

2.8

2.4

    Minority Interest

0.7

0.7

0.7

0.8

0.8

    Other Non-current Financial Liabilities

-

-

3.3

-

-

Total Liabilities

173.4

175.8

149.9

145.3

119.4

 

 

 

 

 

 

    Capital Stock

11.4

11.3

11.0

12.2

11.9

    Additional Paid-in Capital

4.1

4.0

3.9

4.3

4.2

    Revaluation Reserve

2.3

2.2

2.2

2.4

2.3

    Other Capital Surplus

2.9

2.9

2.8

3.1

3.0

    Adjustment for Capital Surplus

-

-

-

-

-

    Treasury Stock in Capital Adjustments

-3.6

-3.5

-3.5

-3.8

-3.4

    Discount on Stock issuance in Capital Ad

0.0

0.0

0.0

0.0

0.0

    Adjustment for Capital Adjustments

0.0

0.0

0.0

0.0

-

    Gains on Valuation of Equity Method Secu

-

-

3.2

1.6

1.8

    Capital Change, Equity Method

-

2.9

-

-

-

    Gains on Revaluation

-

10.8

10.6

11.6

11.3

    Adjustment for Accumulated Other Compreh

-

0.0

0.0

0.0

0.0

    Accumulated Other Comprehensive Income

13.9

-

-

-

-

    Appropriated Retained Earnings for Legal

1.5

1.3

-

1.4

1.3

    Reserve for Business Stabilizations

2.4

2.4

-

2.6

2.5

    Reserves for Financial Structure Improve

1.2

1.2

-

1.3

1.2

    Other Voluntary Reserves

35.4

27.1

-

32.1

31.2

    Retained Earnings Carried Forward

5.5

12.3

-

8.0

4.2

    Adjustment for Retained Earnings or Accu

0.0

0.0

-

0.0

0.0

    Retained Earnings or Accumulated Deficit

-

-

41.2

-

-

Total Equity

76.9

74.8

71.4

76.8

71.6

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

250.3

250.6

221.3

222.1

191.0

 

 

 

 

 

 

    S/O-Common Stock

23.7

23.7

23.7

23.7

23.8

Total Common Shares Outstanding

23.7

23.7

23.7

23.7

23.8

T/S-Common Stock

2.3

2.3

2.3

2.3

2.2

Accumulated Intangible Amort, Suppl.

2.5

2.4

2.4

0.2

2.4

Deferred Revenue, Current

5.5

3.5

1.7

1.3

3.5

Full-Time Employees

453

446

450

441

418

Long Term Debt Maturing within 1 Year

14.9

10.8

3.6

5.4

4.8

Long Term Debt Maturing in Year 2

12.6

16.6

7.0

7.9

3.9

Long Term Debt Maturing in Year 3

10.4

12.2

1.9

2.5

1.3

Long Term Debt Maturing in Year 4

-

11.5

-

-

-

Long Term Debt - Remaining Maturities

25.0

13.8

9.6

7.0

6.2

Total Long Term Debt, Supplemental

62.9

64.9

22.1

22.8

16.2

 

 

 

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

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Restated Normal 
31-Dec-2009

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

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Sungdoe Accounting Corp.

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

9.5

12.9

3.3

3.6

7.4

    Depreciation

8.1

8.3

8.0

9.2

11.9

    Expense of Allowance for Doubtful Accoun

-0.6

0.0

-0.5

1.2

0.0

    Payment for Retirement Allowance, ONCI

2.8

2.2

1.0

1.8

2.2

    Amortization of Intangible Assets

0.3

0.5

0.5

0.7

1.7

    Recovery-Negative Goodwill Amortization

-

-

0.0

0.0

0.0

    Corporate Taxes Expense

3.3

3.9

-

-

-

    Interest Expenses

4.8

3.2

-

-

-

    R & D Expenses

0.0

-

-

-

-

    Loss on Disposal of Property, Plant and

0.0

0.1

0.0

0.0

0.0

    Losses on Foreign Currency Translation

1.2

0.1

0.0

1.7

0.1

    Loss on Disposal of Trade Receivable

-

-

0.4

0.8

1.0

    Loss-Prior Period Error Correction

-

-

-

0.0

0.0

    Miscellaneous Loss

-

-

-

-

0.0

    Loss on Reduction of Tangible Assets

-

-

-

-

2.0

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

-

-

0.0

-

-

    Miscellaneous Expense

-

-

-

0.4

-

    Loss on Valuation of Currency Forwards

1.9

-

-

-

-

    Impairment Loss on Intangible Assets

1.2

-

-

-

-

    Loss on Invesment in Affiliates

0.5

-

0.6

2.3

-

    Losses on Disposal of Investment Assets

-

0.1

0.0

0.1

-

    Gain on Disposal of Property, Plant and

-1.0

-0.1

-0.3

0.0

0.0

    Treasury Stock-Income Taxes

-

-

-

-

-0.2

    Gain-Prior Period Error Correction

-

-

-

0.0

-0.2

    Gains on Foreign Currency Translation

-0.5

-0.2

-0.4

0.0

0.0

    Interest Income

-0.2

-0.3

-

-

-

    Government Subsidy

-

-

0.0

-0.2

-

    Gain-Disposal of Investment Assets

-

-

0.0

-

-0.2

    Recovery of Provision for Doubtful Ac

-

-

-

-

0.0

    Gain from Government Subsidy

0.0

-

-

-

-

    Gain on Invesment in Affiliates

-0.8

-3.2

-

-

-

    Trade Receivables

-32.0

-14.6

-3.9

-3.6

2.7

    Other Receivables

-4.3

1.9

0.0

0.6

-0.4

    Accrued Income

-

-

0.0

-0.1

0.0

    Other Guarantee Deposit-Leases

-

-

-

-0.1

-

    Advance Payments

-

-

-0.3

-2.8

-0.8

    Prepaid Expenses

-

-

0.0

-0.1

0.0

    Inventories

-11.1

-3.0

-0.4

1.2

0.6

    Deferred Income Tax Debit

-

-

1.2

-0.4

-0.5

    Other Current Assets

-1.2

-0.4

-

-

-

    Trade Payables

7.2

0.1

3.6

-0.7

0.6

    Other Payables

18.3

1.2

1.9

0.9

-0.8

    Other Current Liabilities

-0.3

2.4

-

-

-

    Advances Received

-

-

0.1

3.3

-0.4

    Deposits Withheld

-

-

0.0

-0.1

0.6

    Accrued Expenses

-

-

-0.2

0.2

0.0

    Accrued Income Taxes

-

-

0.0

-0.7

1.4

    Nation Pension Fnd

-

-

0.0

0.0

0.0

    Payment for Retirement Allowance

-4.0

-1.6

-1.4

-1.9

-1.9

    Deposits for Retirement Insurance

-0.2

-1.3

0.0

0.0

0.0

    Long-Term Accounts Payable

-

-

0.3

-0.3

-

    Deferred Income Tax Credits

-

-

-0.9

0.0

0.0

    Prepaid Taxes

-

-

-

-

0.2

    Prepaid Value Added Taxes

-

-

-0.8

1.5

1.6

    Prepaid Income Taxes

-

-

0.0

0.0

-

    Cash-Interest Received

0.2

0.3

-

-

-

    Cash-Interest Paid

-4.6

-3.2

-

-

-

    Cash-Tax Paid

-3.8

-1.2

-

-

-

    Adjustment for Cash Flow from Operating

0.0

0.0

-

-

-

Cash from Operating Activities

-5.4

7.9

11.7

18.6

28.8

 

 

 

 

 

 

    Disposal of Current Financial Instrument

0.6

0.0

0.1

0.0

-

    Dec-LT Finl Asset

27.4

1.5

1.6

0.8

0.6

    Decrease-Securities vailable for Sale

-

-

-

0.0

0.0

    Disposal in Current Loans

3.2

1.7

2.6

-

0.0

    Disp-Secs held till Maturity

0.0

0.2

0.0

0.0

0.1

    Decrease-Other Investment Assets

-

-

-

0.1

-

    Decrease-Membership Right

-

0.3

0.3

-

-

    Decrease-Restricted Bank Deposit

-

-

0.3

1.9

-

    Decrease in Guarantee Deposit

0.0

0.0

0.1

0.0

0.0

    Disp-Vehicles

0.1

0.1

-

0.1

0.0

    Disposal of Machinery

0.9

0.1

0.5

1.2

0.0

    Decrease-Membership Right

-

-

-

0.2

0.4

    Disp-Tools/Equipmt

-

0.2

-

0.2

-

    Disposal-Buildings

-

-

0.1

-

-

    Disposal-Supplies

-

-

0.0

-

0.0

    Purchase of Non-Current Financial Instru

-24.5

-3.8

-2.5

-1.2

-0.2

    Inc-Guarantee Dep

-

-

0.0

-

0.0

    Purchase of Current Financial Instrument

-

-0.6

0.0

-

-0.8

    Increase in Current Loans

-3.2

-1.7

-0.7

-1.0

-

    Purchase of Land

-16.2

-

-

-

-

    Purchase of Buildings

-11.2

-

-

-1.7

-0.3

    Acq-Structure

-0.2

-0.1

-

-

-0.1

    Purchase of Machinery

-3.0

-2.0

-0.3

-5.0

-1.5

    Acq-Vehicles

-0.2

-0.3

0.0

0.0

-0.1

    Purchase of Tools & Equipments

-1.1

-1.0

-0.9

-1.7

-1.5

    Purchase of Fixtures

-0.5

-0.1

-0.6

-0.2

-0.1

    Purchase of Construction in Progress

-7.1

-0.7

-0.3

-1.6

-2.9

    Acquisition of Other Intangible Asset

-

-

-

-

-0.1

    Acq-Secs held till Maturity

0.0

0.0

0.0

-

0.0

    Increase-Other Investment Assets

-

-

-

-

0.0

    Increase-Membership Right

-0.1

-0.3

-0.2

-

-

    Purchase of Investment in Joint Venture

-8.3

-

-

-10.8

-

    Purchase of Consolidation Company

-

-6.9

-

-

-

    Acq-Land

-

-

-

-

0.0

    Increase in Guarantee Deposit

-0.5

-0.2

-

-

-

    Increase-Restricted Deposit

-

-

-0.1

-

-

    Increase in Government Subsidy

0.5

1.2

-

-

-

    Decrease in Government Subsidy

-0.6

-1.2

-

-

-

    Increase-Membership Right

-

-

-

-0.2

-0.6

    Acq-Mach. In Transit

-

-

-

-

-6.2

    Other Investment Assets

0.0

0.0

-

-

-

Cash from Investing Activities

-44.1

-13.6

0.0

-18.9

-13.2

 

 

 

 

 

 

    Increase in Current Borrowings

169.5

77.4

36.2

10.5

2.0

    Increase in Non-Current Borrowings

17.7

-

1.7

5.2

4.3

    Disposal-Treasury Stock

-

-

-

-

0.8

    Rights Issue

0.5

-

-

-

-

    Receipt of Subsidies from Government

-

-

0.5

1.1

0.8

    Inc-Bonds

-

-

-

-

5.4

    Increase in Current Portion of Long-Term

45.1

-

-

-

-

    Decrease in Current Borrowings

-175.2

-59.8

-42.8

-

-14.9

    Redemption-Bond

-

-

-

-

-1.3

    Dec-Current Portion of LT Borrowings

-11.1

-5.3

-13.3

-5.7

-5.7

    Decrease in Non-Current Borrowings

-0.8

-0.3

-0.3

0.0

-3.3

    Acquisition of Treasury Stock

-0.4

-0.4

-0.3

-1.9

-

    Cash Inflow-Consol. Scope Change, FN

-

-

-

-

0.1

    Increase-Expense for Stock Issuance

-

-

-

-

0.0

    Dividends Paid

-2.2

-0.8

-0.5

-1.2

-0.7

    Decrease in Government Subsidies

-

-

-1.0

-0.4

-0.4

Cash from Financing Activities

43.1

10.7

-19.8

7.7

-13.0

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

-

-

-

Net Change in Cash

-6.4

5.1

-8.0

7.3

2.6

 

 

 

 

 

 

Net Cash Beginning Balance

7.4

2.0

9.8

4.1

2.2

Cash and Cash Equivalents at End

0.9

7.0

1.8

11.4

4.8

    Cash Interest Paid

4.6

3.2

-

-

-

    Cash Taxes Paid

3.8

1.2

-

-

-

 

 

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

Reclassified Normal 
31-Mar-2012

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1107.891393

1095.603455

1101.856011

1120.28956

 

 

 

 

 

 

Net Income

2.8

9.5

7.5

7.3

3.6

    Depreciation

2.2

8.1

6.1

4.1

2.0

    Amortization of Intangible Assets

0.0

0.3

0.3

0.2

0.5

    Compensation Expenses Associated with St

-

-

0.1

0.0

-

    Retirement and Severance Benefits

0.5

2.8

1.4

0.9

0.1

    Expense of Allowance for Doubtful Accoun

-

-0.6

0.1

0.2

0.1

    R & D Expenses

-

0.0

-

-

-

    Corporate Taxes Expense

0.7

3.3

1.5

1.2

0.7

    Interest Expenses

1.6

4.8

3.5

2.1

1.0

    Losses on Foreign Currency Translation

0.0

1.2

1.6

0.2

0.2

    Loss on Disposal of Property, Plant and

-

0.0

0.0

0.0

0.0

    Impairment Loss on Intangible Assets

-

1.2

-

-

-

    Interest Income

-0.1

-0.2

-0.2

-0.1

-0.1

    Gain from Government Subsidy

-

0.0

-

-

-

    Gains on Foreign Currency Translation

-0.3

-0.5

-1.1

0.0

-0.1

    Loss-Valuation of Currency Futures

-

1.9

3.6

-

-

    Gain-Valuation of Currency Futures

-

-

-

-0.1

-

    Gain on Disposal of Property, Plant and

-0.1

-1.0

-0.1

-0.1

0.0

    Gain on Disposal of Investment Assets

-0.5

-

-

-

-

    Gain-Sale of Investments in Jointly Cont

-

-

-

-1.0

-

    Gain on Invesment in Affiliates

-

-0.8

-1.9

-

-0.8

    Loss on Invesment in Affiliates

0.3

0.5

0.0

-

-

    Trade Receivables

6.7

-32.0

-20.6

-0.5

0.0

    Account Receivables

-0.1

-4.3

-6.4

-6.4

0.5

    Other Current Assets

-

-1.2

-3.7

-4.5

-

    Advance Payments

-0.9

-

-

-

-

    Inventory

1.5

-11.1

-2.2

-3.4

0.4

    Trade Payables

0.6

7.2

6.6

6.2

6.0

    Non-Current Other Payables

0.0

-

-

-

-

    Other Payable

-1.9

18.3

1.9

-1.1

-1.1

    Prepaid Expenses

0.0

-

-

-

-

    VAT Transfer-Paid Amount

-2.4

-

-

-

-2.4

    Value Added Taxes Withholdings

0.0

-

-

-

-

    Withholdings

-0.3

-

-

-

-

    Other Non-current Liabilities

-

-

0.0

0.0

-

    Advance from Customers

2.0

-0.3

-0.6

-2.9

-0.8

    Deposits for Retirement Insurance

0.0

-0.2

-

-

-

    Payment for Retirement Allowance

-0.1

-4.0

-0.9

-0.5

-0.2

    Currency Forward

-0.5

-

-

-

-

    Adjustment for Cash Flow from Operating

0.0

0.0

0.0

0.0

0.0

    Cash-Interest Received

0.1

0.2

-

-

0.1

    Cash-Interest Paid

-1.4

-4.6

-3.2

-1.9

-1.0

    Cash-Tax Paid

-0.2

-3.8

-5.5

-2.5

-1.1

Cash from Operating Activities

10.4

-5.4

-12.3

-2.7

7.5

 

 

 

 

 

 

    Disposal of Current Financial Instrument

-

0.6

4.7

4.7

0.6

    Disposal of Non-Current Financial Instru

1.1

27.4

2.0

1.9

1.2

    Disposal of Financial Assets Held to Mat

-

0.0

0.0

0.0

0.0

    Decrease in Current Loans&Other Receivab

-

-

-

-

0.8

    Decrease in Short-term Loans

-

3.2

1.5

0.0

-

    Decrease in Government Subsidy

-0.1

-0.6

-

-

-0.2

    Decrease in Guarantee Deposit

0.0

0.0

0.8

0.7

0.7

    Proceeds from Sale of Property Plant and

-

-

0.2

0.2

-

    Disposal of Vehicles

0.0

0.1

-

-

-

    Disposal of Machinery

0.2

0.9

-

-

0.1

    Purchase of Current Financial Instrument

0.0

-

-4.1

-4.1

-0.7

    Purchase of Non-Current Financial Instru

-0.1

-24.5

-1.7

-1.5

-1.0

    Inc-ST Securities Held to Maturities

-

-

0.0

0.0

-

    Purchase of Investment in Joint Ventures

-

-8.3

-

-4.3

-4.2

    Purchase of Financial Assets Held to Mat

0.0

0.0

-

-

0.0

    Other Cash Outflow from Joint Ventures

-

-

-5.2

-

-

    Increase in Current Loans&Other Receivab

0.0

-

-

-

-0.8

    Increase-ST Loans to Employees

-

-3.2

-1.5

-

-

    Increase in Guarantee Deposit

0.0

-0.5

-1.2

-0.9

-0.8

    Increase in Government Subsidy

0.1

0.5

-

-

0.1

    Purchase of Property, Plant and Equipmen

-3.9

-

-24.6

-14.5

-6.5

    Purchase of Land

-

-16.2

-

-

-

    Purchase of Buildings

-

-11.2

-

-

-

    Purchase of Structures

-

-0.2

-

-

-

    Purchase of Machinery

-

-3.0

-

-

-

    Purchase of Vehicles

-

-0.2

-

-

-

    Purchase of Tools & Equipments

-

-1.1

-

-

-

    Purchase of Fixtures

-

-0.5

-

-

-

    Purchase of Construction in Progress

-

-7.1

-

-

-

    Purchase of Intangible Assets

-

-

-0.1

0.0

-

    Purchase of Facility Usage Right

-

-0.1

-

-

-

    Other Investment Assets

-

0.0

-

-

-

Cash from Investing Activities

-2.8

-44.1

-29.2

-17.8

-10.6

 

 

 

 

 

 

    Increase in Current Borrowings

19.0

169.5

132.6

72.4

22.4

    Increase in Non-Current Borrowings

0.2

17.7

16.8

16.1

6.1

    Increase in Current Portion of Long-Term

-

45.1

-

-

-

    Proceeds from Changes in Ownership Inter

-

-

0.0

-

-

    Rights Issue

-

0.5

-

-

-

    Decrease in Current Borrowings

-23.0

-175.2

-101.1

-49.9

-20.1

    Decrease-Subsidy from Government

-

-

-0.2

-0.1

-

    Repayments of Long-term Borrowings

-

-0.8

-1.8

-

-

    Decrease in Current Portion of Long-Term

-3.0

-11.1

-

-10.7

-6.6

    Increase in Treasury Stocks

-

-0.4

-0.4

-0.4

-0.1

    Net Change in Other Cash

-

-

0.5

0.5

-

    Payments in Dividends

-

-2.2

-2.2

-2.2

-

    Redemption-Borrowings

-

-

-8.1

-

-

Cash from Financing Activities

-6.8

43.1

36.1

25.7

1.6

 

 

 

 

 

 

Foreign Exchange Effects

0.0

0.0

0.1

0.0

-0.1

Net Change in Cash

0.8

-6.4

-5.4

5.2

-1.5

 

 

 

 

 

 

Cash and Cash Equivalent at Beginning

0.9

7.4

7.4

7.4

7.3

Cash and Cash Equivalent at End

1.7

0.9

2.1

12.6

5.8

    Cash Interest Paid

1.4

4.6

3,175.3

1.9

1.0

    Cash Taxes Paid

0.2

3.8

5.5

2.5

1.1

 

Geographic Segments

 

Financials in: As Reported (mil)

Annual  

           

 

External Revenue   USD (mil)

 

31-Dec-11

31-Dec-10

South Korea

67.0

34.2 %

47.7

29.8 %

Other Foreign

128.7

65.8 %

112.1

70.2 %

Segment Total

195.7

100 %

159.7

100 %

Consolidated Total

195.7

100 %

159.7

100 %

Exchange Rate: KRW to USD

1,107.891393

 

1,156.281981

 

Total Revenue   USD (mil)

 

31-Dec-11

31-Dec-10

South Korea

67.0

34.2 %

47.7

29.8 %

Other Foreign

128.7

65.8 %

112.1

70.2 %

Segment Total

195.7

100 %

159.7

100 %

Consolidated Total

195.7

100 %

159.7

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-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

South Korea

14.6

34.4 %

13.1

25.3 %

16.4

32.6 %

25.2

49.3 %

12.7

29.7 %

Other Foreign

27.9

65.6 %

38.6

74.7 %

33.8

67.4 %

25.9

50.7 %

30.0

70.3 %

Segment Total

42.5

100 %

51.7

100 %

50.2

100 %

51.1

100 %

42.7

100 %

Consolidated Total

42.5

100 %

51.7

100 %

50.2

100 %

51.1

100 %

42.7

100 %

Exchange Rate: KRW to USD

1,131.034971

 

1,145.271505

 

1,082.999462

 

1,083.436022

 

1,120.289560

 

Total Revenue   USD (mil)

 

31-Mar-12

31-Dec-11

30-Sep-11

30-Jun-11

31-Mar-11

South Korea

14.6

34.4 %

13.1

25.3 %

16.4

32.6 %

25.2

49.3 %

12.7

29.7 %

Other Foreign

27.9

65.6 %

38.6

74.7 %

33.8

67.4 %

25.9

50.7 %

30.0

70.3 %

Segment Total

42.5

100 %

51.7

100 %

50.2

100 %

51.1

100 %

42.7

100 %

Consolidated Total

42.5

100 %

51.7

100 %

50.2

100 %

51.1

100 %

42.7

100 %

Exchange Rate: KRW to USD

1,131.034971

 

1,145.271505

 

1,082.999462

 

1,083.436022

 

1,120.289560

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.34

UK Pound

1

Rs.86.45

Euro

1

Rs.68.43

 

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.