MIRA INFORM REPORT

 

 

Report Date :

18.08.2012

 

IDENTIFICATION DETAILS

 

Name :

HUVITZ CO LTD

 

 

Registered Office :

689-3, Geumjeong-Dong, Gunpo, 435862

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

27.04.1999

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

manufacturer of ophthalmic products

 

 

No. of Employees :

150 employees

 

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 

 

Huvitz Co Ltd

689-3, Geumjeong-Dong

Gunpo, 435862

Korea, Republic of

Tel:       82-31-4289100

Fax:      82-31-4778617

Web:    www.huvitz.com

           

 

Synthesis

 

Employees:                  150

Company Type:            Public Independent

Traded:                         KOSDAQ:         065510

Incorporation Date:         27-Apr-1999

Auditor:                        Echon Accounting Corp.

Financials in:                 USD (Milloins)

Fiscal Year End:            31-Dec-2011

Reporting Currency:       South Korean Won

Annual Sales:               51.5  1

Net Income:                   7.9

Total Assets:                 59.1  2

Market Value:                93.9 (03-Aug-2012)

 

 

Business Description     

 

Huvitz Co., Ltd. is a Korea-based company engaged in the manufacture of ophthalmic products. The Company’s products include optical measuring machines, lens edging machines, ophthalmic instruments, lensmeters, digital refractors, slit lamp microscopes, refraction tables, tonometers and others. The Company distributes its products within domestic market and to overseas markets, including America, Europe and Japan. For the three months ended 31 March 2011, Huvitz Co.,Ltd's total revenues increased 32% to W11.88B. The Company's net income increased 58% to W1.92B. Revenues reflect increased demand for the Company's finished goods and merchandises. Net income was benefited from increased gains on valuation of interest swap, increased gains on currency forward transactions as well as increased gains on valuation of currency forward.

 

Industry             

Industry            Medical Equipment and Supplies

ANZSIC 2006:    2412 - Medical and Surgical Equipment Manufacturing

NACE 2002:      3310 - Manufacture of medical and surgical equipment and orthopaedic appliances

NAICS 2002:     339112 - Surgical and Medical Instrument Manufacturing

UK SIC 2003:    3310 - Manufacture of medical and surgical equipment and orthopaedic appliances

US SIC 1987:    3841 - Surgical and Medical Instruments and Apparatus

 

           

Key Executives   

 

Name

Title

Hyeon Su Kim

Chief Executive Officer, Director

Gyeong Mok Park

Internal Auditor

Hyun Su Kim

Chief Executive Officer

Jong Hyeong Park

Auditor

In Kwon Park

Manager-Investor Relations

 

 

Significant Developments

 

Topic

#*

Most Recent Headline

Date

General Products

3

Huvitz Co., Ltd. Receives Patent

13-Jun-2012

Equity Financing / Related

2

Huvitz Co., Ltd. to Dispose Treasury Shares

27-Feb-2012

Equity Investments

1

Huvitz Co., Ltd. Announces Changes in Shareholding Structure

10-Oct-2011

Dividends

1

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

22-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)

1.62

2.15

Quick Ratio (MRQ)

1.15

1.49

Debt to Equity (MRQ)

0.17

0.39

Sales 5 Year Growth

22.08

12.74

Net Profit Margin (TTM) %

16.60

11.13

Return on Assets (TTM) %

15.36

8.07

Return on Equity (TTM) %

20.02

16.21

 

 

 

Stock Snapshot

             

 

Traded: KOSDAQ: 065510

 

As of 3-Aug-2012

   Financials in: KRW

Recent Price

10,200.00

 

EPS

904.71

52 Week High

14,900.00

 

Price/Sales

1.86

52 Week Low

6,180.00

 

Dividend Rate

150.00

Avg. Volume (mil)

0.28

 

Price/Earnings

10.44

Market Value (mil)

106,297.40

 

Price/Book

2.07

 

 

 

Beta

0.98

 

Price % Change

Rel S&P 500%

4 Week

-8.93%

-8.46%

13 Week

10.63%

19.03%

52 Week

-2.39%

6.57%

Year to Date

-17.41%

-18.44%

 

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

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

 

 

Corporate Overview

 

Location

689-3, Geumjeong-Dong

Gunpo, 435862

Korea, Republic of

Tel:       82-31-4289100

Fax:      82-31-4778617

Web:    www.huvitz.com

           

Quote Symbol - Exchange

065510 - KOSDAQ

Sales KRW(mil):            57,034.5

Assets KRW(mil):          68,114.4

Employees:                   150

Fiscal Year End:            31-Dec-2011

Industry:                        Medical Equipment and Supplies

Incorporation Date:         27-Apr-1999

Company Type:             Public Independent

Quoted Status:              Quoted

 

Chief Executive Officer,

Director:                        Hyeon Su Kim

 

Contents

Industry Codes

Business Description

Financial Data

Market Data

Key Corporate Relationships

 

Industry Codes

 

ANZSIC 2006 Codes:

2412     -          Medical and Surgical Equipment Manufacturing

2419     -          Other Professional and Scientific Equipment Manufacturing

 

NACE 2002 Codes:

3310     -          Manufacture of medical and surgical equipment and orthopaedic appliances

3340     -          Manufacture of optical instruments and photographic equipment

 

NAICS 2002 Codes:

339112  -          Surgical and Medical Instrument Manufacturing

333314  -          Optical Instrument and Lens Manufacturing

 

US SIC 1987:

3827     -          Optical Instruments and Lenses

3841     -          Surgical and Medical Instruments and Apparatus

 

UK SIC 2003:

33402   -          Manufacture of optical precision instruments

3310     -          Manufacture of medical and surgical equipment and orthopaedic appliances

 

Business Description

Huvitz Co., Ltd. is a Korea-based company engaged in the manufacture of ophthalmic products. The Company’s products include optical measuring machines, lens edging machines, ophthalmic instruments, lensmeters, digital refractors, slit lamp microscopes, refraction tables, tonometers and others. The Company distributes its products within domestic market and to overseas markets, including America, Europe and Japan. For the three months ended 31 March 2011, Huvitz Co.,Ltd's total revenues increased 32% to W11.88B. The Company's net income increased 58% to W1.92B. Revenues reflect increased demand for the Company's finished goods and merchandises. Net income was benefited from increased gains on valuation of interest swap, increased gains on currency forward transactions as well as increased gains on valuation of currency forward.

 

More Business Descriptions

Production of opthalmic equipment

 

Huvitz Co.,Ltd. (Huvitz) is a medical device company specialized in the research, designing, developing, manufacturing and marketing of ophthalmologic diagnostic equipments and ophthalmologic surgical products. The products are used in ophthalmic hospitals to perform diagnosis, magnification control and accurate assessment. The company offers a comprehensive range of specialized products including refractive equipment, Lens edging machines, Diagnostic equipment and Microscopes. The company operates across 90 countries through 120 distributors worldwide. The company’s Refractive equipment range include auto refractive keratometer, refractor, optometry unit tables, chart projector, digital chart software, space saving chart, and lensmeter. These products are used to analyze focal points and obtain spatially refraction map. The company through its Lens edging machine line offers ExecelonXD/HQ, Execelon ez petternless edger, auto blocker CAB-4000 and smart blocker HBK-7000. These products are used for automatic finishing processes, beveling, polishing, grooving and safety beveling. The Diagnostic equipment line offers various models of slit lamps, applanation tonometer and non contact tonometer. They are used in common diagnostics and accurate assessment. Huvitz offers a range of microscopes include stereo microscopes, upright microscope and digital microscope. The company also offers image solutions such as Panasis series and digital camera. Panasis series integrates all Huvitz microscopes and displays the images observed in any computer or digital imaging system.The company carries out the research and development (R&D) activities through its research centers. In 2011, the company spent KRW2843.43m on its R&D activities which accounted for 5% of company's total revenue.. Huvitz conducts its operations through three affiliate companies, namely, Shanghai Huvitz Co., Ltd, in China; Limah Photonics Co., Ltd in Republic of Korea; and Verno-Giken Co., Ltd in Japan.

 

Huvitz Co., Ltd. (Huvitz) is a Korea-based company principally engaged in manufacturing and sales of specialized ophthalmologic diagnostic equipments and ophthalmologic surgical products. The company's product portfolio comprises Optic measuring machines, Lens edging machines and Ophthalmic instruments. It also offers digital refractors, chart projectors, refraction tables and slit lamp microscopes. The products of the company have wider application in ophthalmic hospitals to perform diagnosis, magnification control and accurate assessment. The company has strong distribution network and along with the affiliate companies markets the products in domestic Korean market and also exports worldwide. The company is headquartered in Gyeonggi Do, Korea.The company reported revenues of (Won) KRW 57,034.49 million during the fiscal year ended December 2011, an increase of 24.48% over 2010. The operating profit of the company was KRW 11,487.15 million during the fiscal year 2011, an increase of 17.99% over 2010. The net profit of the company was KRW 8,771.72 million during the fiscal year 2011, an increase of 24.38% over 2010.

 

Navigational, Measuring, Medical, and Control Instruments Manufacturing

 

Financial Data

Financials in:

KRW(mil)

 

Revenue:

57,034.5

Net Income:

8,771.7

Assets:

68,114.4

Long Term Debt:

0.0

 

Total Liabilities:

19,334.6

 

 

 

Date of Financial Data:

31-Dec-2011

 

1 Year Growth

NA

24.4%

14.0%

Market Data

Quote Symbol:

065510

Exchange:

KOSDAQ

Currency:

KRW

Stock Price:

10,200.0

Stock Price Date:

08-03-2012

52 Week Price Change %:

-2.4

Market Value (mil):

106,297,400.0

 

SEDOL:

6702667

ISIN:

KR7065510000

 

Equity and Dept Distribution:

All financials reflect non-consolidated numbers. 04/2004, Scrips Issue, 1 new share for every 1 share held. FY'02 10-for-1 stock split. 3/08, WAS is from S/O. 6/08 is RES, 6 mon. numbers. 3/08 is CLA. 3/09, WAS is estimated. FY'08 Q4 RES.03/10 WAS is estimated.

 

 

Key Corporate Relationships

Auditor:

Echon Accounting Corp.

 

Auditor:

Echon Accounting Corporation, Echon Accounting Corp.

 

 

 

 

 

 

 

 

 

 

Competitors Report

 

Company Name

Location

Employees

Ownership

Bausch & Lomb Incorporated

Rochester, New York, United States

10,000

Private

Tomey Corporation

Nagoya City, Japan

 

Private

TOPCON CORPORATION

Tokyo, Japan

4,359

Public

 


executive report

 

Board of Directors

 

Name

Title

Function

 

Seong Yil Han

 

Director

Director/Board Member

 

Biography:

Han Seong Yil has been Director of Huvitz Co., Ltd since March 28, 2008. Han used to be a senior researcher at Research Center of LS Industrial Systems Co., Ltd. and also worked for LG Innotek Co., Ltd.

 

Age: 45

 

Hyeon Su Kim

 

Chief Executive Officer, Director

Director/Board Member

 

 

Biography:

Kim Hyeon Su is Chief Executive Officer and Director of Huvitz Co., Ltd. Prior to joining the Company, Kim served as Head of Health Care Development Unit at LS Industrial Systems Co., Ltd.

 

Age: 53

 

Young Il Kim

 

Director

Director/Board Member

 

 

Won Jun Lee

 

Director

Director/Board Member

 

 

Sun Yong Shim

 

Assistant Managing Director

Director/Board Member

 

 

Biography:

Shim Sun Yong is Assistant Managing Director of Huvitz Co., Ltd. Prior to joining the Company, Shim served as a senior researcher at KC TECH CO.,LTD and LS Industrial Systems Co., Ltd., and also worked for Korea Advanced Institute of Science & Technology (KAIST).

 

Age: 54

 

 

 

Executives

 

Name

Title

Function

 

Hyeon Su Kim

 

Chief Executive Officer, Director

Chief Executive Officer

 

Biography:

Kim Hyeon Su is Chief Executive Officer and Director of Huvitz Co., Ltd. Prior to joining the Company, Kim served as Head of Health Care Development Unit at LS Industrial Systems Co., Ltd.

 

Age: 53

 

Hyun Su Kim

 

Chief Executive Officer

Chief Executive Officer

 

 

Age: 53

 

Sun Yong Shim

 

Assistant Managing Director

Managing Director

 

 

Age: 54

 

Sun Yong Shim

 

Assistant Managing Director

Managing Director

 

 

Biography:

Shim Sun Yong is Assistant Managing Director of Huvitz Co., Ltd. Prior to joining the Company, Shim served as a senior researcher at KC TECH CO.,LTD and LS Industrial Systems Co., Ltd., and also worked for Korea Advanced Institute of Science & Technology (KAIST).

 

Age: 54

 

Jong Hyeong Park

 

Auditor

Finance Executive

 

 

Gyeong Mok Park

 

Internal Auditor

Accounting Executive

 

 

Biography:

Park Gyeong Mok has been Internal Auditor of Huvitz Co., Ltd since March 25, 2011. Park is also Chief Executive Officer of a Korea-based company. Park used to work for LS INDUSTRIAL SYSTEMS CO.,LTD.

 

Age: 50

 

In Kwon Park

 

Manager-Investor Relations

Investment Executive

 

 

 

 

Significant Developments

 

Huvitz Co., Ltd. Receives Patent Jun 13, 2012

 

Huvitz Co., Ltd. announced that it has received a patent on June 13, 2012, for optical microscope with auto-focusing system.

 

Huvitz Co., Ltd. to Dispose Treasury Shares Feb 27, 2012

 

Huvitz Co., Ltd. announced that it will sell 260,001 shares of its common stock for KRW 2,808,010,800 to improve its liquidity of stock transaction.

 

Huvitz Co., Ltd. Declares Annual Cash Dividend for FY 2011 Feb 22, 2012

 

Huvitz Co., Ltd. announced that it has declared an annual cash dividend of KRW 150 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 1.17% and the total amount of the cash dividend is KRW 1,486,854,150. The Company's annual cash dividend for the fiscal year 2010 was KRW 100 per share.

 

Huvitz Co., Ltd. Receives Patent Nov 25, 2011

 

Huvitz Co., Ltd. announced that it has received a patent on November 25, 2011, for slit lamp microscope for tilting detection angle.

 

Huvitz Co., Ltd. Receives Patent Oct 27, 2011

 

Huvitz Co., Ltd. announced that it has received a patent on October 27, 2011, for apparatus for processing eyeglass lens having drilling apparatus.

 

Huvitz Co., Ltd. Announces Changes in Shareholding Structure Oct 10, 2011

 

Huvitz Co., Ltd. announced that THE KOREA SECURITIES FINANCE CORPORATION has acquired 406,988 shares of the Company, equivalent to a 4.18% stake.

 

Huvitz Co., Ltd. Announces Conversion of First Bonds with Warrants into Shares Sep 02, 2011

 

Huvitz Co., Ltd. announced that KRW 1,150 million worth of its first bonds with warrants have been converted for 301,362 shares of the Company, at the exercise price of KRW 3,816 per share. This brings the total number of the Company's outstanding common shares to 10,026,362. The new shares will be listed on September 16, 2011.

 

 

Annual Income Statement

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

51.4

39.6

30.3

28.1

25.6

Revenue

51.4

39.6

30.3

28.1

25.6

    Other Revenue

0.0

0.0

-

-

-

Other Revenue, Total

0.0

0.0

-

-

-

Total Revenue

51.5

39.6

30.3

28.1

25.6

 

 

 

 

 

 

    Cost of Revenue

28.2

21.3

17.5

16.0

15.4

Cost of Revenue, Total

28.2

21.3

17.5

16.0

15.4

Gross Profit

23.3

18.2

12.7

12.1

10.3

 

 

 

 

 

 

    Selling/General/Administrative Expense

4.3

3.2

2.1

2.0

2.3

    Labor & Related Expense

3.3

2.4

1.8

1.9

2.1

    Advertising Expense

0.7

0.6

0.4

0.5

0.4

Total Selling/General/Administrative Expenses

8.3

6.2

4.3

4.4

4.8

Research & Development

2.6

1.9

1.1

1.1

1.2

    Depreciation

0.2

0.2

0.1

0.1

0.1

    Amortization of Intangibles

1.8

1.5

1.2

1.3

0.9

Depreciation/Amortization

2.1

1.7

1.3

1.4

1.0

Total Operating Expense

41.1

31.2

24.3

22.8

22.4

 

 

 

 

 

 

Operating Income

10.4

8.4

6.0

5.3

3.2

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.6

-0.5

-0.3

-0.5

-0.5

    Interest Expense, Net Non-Operating

-0.6

-0.5

-0.3

-0.5

-0.5

        Interest Income - Non-Operating

0.3

0.1

0.1

0.2

0.2

        Investment Income - Non-Operating

-1.3

-0.7

0.2

-0.7

-0.2

    Interest/Investment Income - Non-Operating

-0.9

-0.6

0.3

-0.5

0.0

    Interest Income (Expense) - Net Non-Operating

0.0

0.0

-

-

-

Interest Income (Expense) - Net Non-Operating Total

-1.5

-1.1

0.0

-1.1

-0.5

Gain (Loss) on Sale of Assets

0.0

0.0

0.0

0.0

0.0

    Other Non-Operating Income (Expense)

0.0

0.0

0.0

0.1

0.1

Other, Net

0.0

0.0

0.0

0.1

0.1

Income Before Tax

8.9

7.3

5.9

4.3

2.9

 

 

 

 

 

 

Total Income Tax

0.3

0.8

0.6

0.6

0.2

Income After Tax

8.5

6.5

5.3

3.7

2.7

 

 

 

 

 

 

    Minority Interest

-0.6

-0.4

-

-

-

Net Income Before Extraord Items

7.9

6.1

5.3

3.7

2.7

Net Income

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

9.2

9.2

8.8

8.7

9.0

Basic EPS Excl Extraord Items

0.86

0.66

0.61

0.42

0.30

Basic/Primary EPS Incl Extraord Items

0.86

0.66

0.61

0.42

0.30

Dilution Adjustment

0.1

0.1

0.0

0.0

0.0

Diluted Net Income

8.0

6.2

5.3

3.7

2.7

Diluted Weighted Average Shares

9.8

9.5

9.0

8.7

9.0

Diluted EPS Excl Extraord Items

0.82

0.65

0.59

0.42

0.30

Diluted EPS Incl Extraord Items

0.82

0.65

0.59

0.42

0.30

Dividends per Share - Common Stock Primary Issue

0.14

0.09

0.08

0.05

0.05

Gross Dividends - Common Stock

1.3

0.8

0.7

0.4

0.5

Interest Expense, Supplemental

0.6

0.5

0.3

0.5

0.5

Depreciation, Supplemental

1.7

1.5

1.1

1.1

0.8

Total Special Items

0.0

0.0

0.0

0.0

0.0

Normalized Income Before Tax

8.9

7.3

5.9

4.3

2.9

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

0.0

0.0

0.0

0.0

Inc Tax Ex Impact of Sp Items

0.3

0.8

0.6

0.6

0.2

Normalized Income After Tax

8.5

6.5

5.3

3.7

2.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Basic Normalized EPS

0.86

0.66

0.61

0.43

0.30

Diluted Normalized EPS

0.82

0.65

0.59

0.43

0.30

Amort of Intangibles, Supplemental

1.8

1.5

1.2

1.3

0.9

Rental Expenses

0.3

0.2

0.0

0.0

0.0

Advertising Expense, Supplemental

0.7

0.6

0.4

0.5

0.4

Research & Development Exp, Supplemental

2.6

1.9

1.1

1.1

1.2

Normalized EBIT

10.4

8.4

6.0

5.3

3.2

Normalized EBITDA

13.9

11.4

8.3

7.6

4.9

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

7.6

7.9

3.7

2.2

3.5

    Short Term Investments

2.6

1.6

0.4

0.6

0.4

Cash and Short Term Investments

10.2

9.5

4.0

2.8

3.9

        Accounts Receivable - Trade, Gross

7.4

6.2

5.4

3.8

4.0

        Provision for Doubtful Accounts

-0.1

0.0

-0.2

-0.1

-0.2

    Trade Accounts Receivable - Net

7.3

6.3

5.2

4.0

4.0

    Other Receivables

0.5

1.0

0.3

0.0

0.1

Total Receivables, Net

7.8

7.3

5.6

4.0

4.0

    Inventories - Finished Goods

1.8

1.6

0.9

0.9

1.2

    Inventories - Work In Progress

-

-

-

0.1

0.2

    Inventories - Raw Materials

4.8

2.9

1.4

1.5

1.7

    Inventories - Other

1.1

0.7

0.4

0.2

0.5

Total Inventory

7.7

5.2

2.6

2.7

3.6

Prepaid Expenses

0.8

0.5

0.5

0.3

0.4

    Deferred Income Tax - Current Asset

-

-

0.2

0.1

0.1

    Other Current Assets

0.4

0.2

0.0

0.0

0.0

Other Current Assets, Total

0.4

0.2

0.2

0.2

0.1

Total Current Assets

27.0

22.7

12.9

10.0

12.0

 

 

 

 

 

 

        Buildings

8.2

8.3

4.5

4.1

5.5

        Land/Improvements

6.4

6.5

6.4

3.6

1.3

        Machinery/Equipment

10.7

9.5

6.2

4.7

4.7

        Construction in Progress

1.0

0.1

2.0

0.3

0.7

        Other Property/Plant/Equipment

0.0

0.0

-

-

-

    Property/Plant/Equipment - Gross

26.3

24.4

19.0

12.7

12.2

    Accumulated Depreciation

-7.1

-5.5

-4.7

-3.5

-3.7

Property/Plant/Equipment - Net

19.2

18.9

14.3

9.2

8.5

Intangibles, Net

11.6

10.1

7.4

5.3

6.4

    LT Investment - Affiliate Companies

0.3

0.2

3.4

3.2

2.4

    LT Investments - Other

0.3

0.6

0.7

2.5

3.8

Long Term Investments

0.6

0.8

4.1

5.8

6.2

Note Receivable - Long Term

-

-

-

0.2

-

    Deferred Income Tax - Long Term Asset

0.5

0.0

0.4

0.2

0.5

    Other Long Term Assets

0.2

0.1

0.9

0.7

1.0

Other Long Term Assets, Total

0.7

0.1

1.3

0.9

1.5

Total Assets

59.1

52.7

40.0

31.4

34.5

 

 

 

 

 

 

Accounts Payable

1.5

1.7

1.6

1.1

1.7

Accrued Expenses

0.0

0.1

0.0

0.0

0.0

Notes Payable/Short Term Debt

8.5

4.3

3.0

3.5

3.9

Current Portion - Long Term Debt/Capital Leases

0.1

2.5

1.3

1.9

0.4

    Customer Advances

0.6

0.2

0.0

0.2

0.2

    Security Deposits

0.1

0.0

-

-

-

    Income Taxes Payable

0.5

0.1

0.5

0.4

0.3

    Other Payables

0.4

0.5

0.4

0.2

0.4

    Other Current Liabilities

1.2

0.2

0.3

0.2

0.4

Other Current liabilities, Total

2.8

1.0

1.2

1.0

1.2

Total Current Liabilities

12.9

9.6

7.1

7.6

7.3

 

 

 

 

 

 

    Long Term Debt

-

6.2

3.2

3.2

4.4

Total Long Term Debt

0.0

6.2

3.2

3.2

4.4

Total Debt

8.6

12.9

7.5

8.6

8.8

 

 

 

 

 

 

Minority Interest

2.5

1.8

-

-

-

    Reserves

1.0

0.6

0.6

0.3

0.4

    Pension Benefits - Underfunded

0.1

0.0

2.3

1.6

1.9

    Other Long Term Liabilities

0.3

-

0.0

0.1

-

Other Liabilities, Total

1.4

0.6

2.9

2.0

2.3

Total Liabilities

16.8

18.1

13.2

12.8

14.0

 

 

 

 

 

 

    Common Stock

4.4

4.2

4.0

3.6

4.9

Common Stock

4.4

4.2

4.0

3.6

4.9

Additional Paid-In Capital

3.7

2.3

1.7

1.1

1.4

Retained Earnings (Accumulated Deficit)

34.9

28.5

20.7

14.1

15.1

Treasury Stock - Common

-0.5

-0.5

-0.5

-1.1

-1.0

Unrealized Gain (Loss)

-1.2

-0.8

0.2

0.8

0.1

    Translation Adjustment

0.3

0.0

-

-

-

    Other Equity

0.7

0.7

0.7

-

-

    Other Comprehensive Income

0.0

0.0

-

-

-

Other Equity, Total

1.0

0.7

0.7

-

-

Total Equity

42.3

34.5

26.8

18.5

20.5

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

59.1

52.7

40.0

31.4

34.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

9.9

9.3

9.1

8.4

8.8

Total Common Shares Outstanding

9.9

9.3

9.1

8.4

8.8

Treasury Shares - Common Stock Primary Issue

0.3

0.3

0.3

0.7

0.3

Employees

140

115

124

109

103

Number of Common Shareholders

-

2,751

3,389

1,686

1,747

Deferred Revenue - Current

0.6

0.2

0.0

0.2

0.2

Total Long Term Debt, Supplemental

-

-

3.2

3.5

2.7

Long Term Debt Maturing within 1 Year

-

-

2.4

0.3

0.4

Long Term Debt Maturing in Year 2

-

-

0.8

1.1

0.4

Long Term Debt Maturing in Year 3

-

-

-

2.1

1.5

Long Term Debt Maturing in Year 4

-

-

-

-

0.4

Long Term Debt Maturing in 2-3 Years

-

-

0.8

3.2

1.9

Long Term Debt Maturing in 4-5 Years

-

-

-

-

0.4

Long Term Debt Matur. in Year 6 & Beyond

-

-

0.0

0.0

0.0

Total Operating Leases, Supplemental

-

-

0.1

0.0

0.1

Operating Lease Payments Due in Year 1

-

-

0.0

0.0

0.1

Operating Lease Payments Due in Year 2

-

-

0.0

0.0

0.0

Operating Lease Payments Due in Year 3

-

-

0.0

-

0.0

Operating Lease Pymts. Due in 2-3 Years

-

-

0.0

0.0

0.1

Oper. Lse. Pymts. Due in Year 6 & Beyond

-

-

0.0

0.0

0.0

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

8.5

6.5

5.3

3.7

2.7

    Depreciation

1.7

1.5

1.1

1.1

0.8

Depreciation/Depletion

1.7

1.5

1.1

1.1

0.8

    Amortization of Intangibles

1.8

1.5

1.2

1.3

0.9

Amortization

1.8

1.5

1.2

1.3

0.9

Deferred Taxes

-

-

0.0

-0.1

-0.1

    Unusual Items

1.2

0.2

0.0

0.5

-0.1

    Equity in Net Earnings (Loss)

0.0

0.1

-0.2

0.1

0.2

    Other Non-Cash Items

2.8

2.1

1.0

0.7

0.7

Non-Cash Items

4.0

2.4

0.8

1.3

0.9

    Accounts Receivable

-0.6

-0.7

-1.0

-1.3

-0.2

    Inventories

-2.2

-1.6

0.3

-0.1

-1.1

    Prepaid Expenses

-

-

-0.2

0.0

-0.2

    Other Assets

-0.8

0.4

-

-

0.1

    Accounts Payable

-1.1

-0.5

0.5

-0.3

0.7

    Accrued Expenses

-

-

0.0

0.0

0.0

    Taxes Payable

-

-

-0.2

0.3

0.3

    Other Liabilities

0.2

-3.2

-0.2

-0.1

-0.1

    Other Assets & Liabilities, Net

-0.4

0.0

0.0

-0.1

-

    Other Operating Cash Flow

-0.1

-1.5

-

-

-

Changes in Working Capital

-4.9

-7.3

-0.8

-1.6

-0.6

Cash from Operating Activities

11.2

4.6

7.6

5.7

4.6

 

 

 

 

 

 

    Purchase of Fixed Assets

-2.3

-4.3

-5.1

-4.4

-1.7

    Purchase/Acquisition of Intangibles

-4.3

-3.5

-2.6

-2.3

-2.0

Capital Expenditures

-6.6

-7.8

-7.7

-6.7

-3.6

    Sale of Fixed Assets

0.0

0.0

0.0

0.0

0.0

    Sale/Maturity of Investment

0.2

1.2

3.3

0.5

3.2

    Purchase of Investments

-1.3

-2.3

-1.8

-1.4

-3.9

    Other Investing Cash Flow

0.2

-0.3

-0.2

-0.3

0.3

Other Investing Cash Flow Items, Total

-0.9

-1.4

1.4

-1.1

-0.4

Cash from Investing Activities

-7.6

-9.2

-6.3

-7.8

-4.0

 

 

 

 

 

 

    Other Financing Cash Flow

0.6

0.6

0.4

-

0.0

Financing Cash Flow Items

0.6

0.6

0.4

-

0.0

    Cash Dividends Paid - Common

-0.8

-0.9

-0.3

-0.4

-0.5

Total Cash Dividends Paid

-0.8

-0.9

-0.3

-0.4

-0.5

        Sale/Issuance of Common

-

-

1.5

-

-

        Repurchase/Retirement of Common

-

-

-

-0.4

-0.3

    Common Stock, Net

-

-

1.5

-0.4

-0.3

    Options Exercised

-

-

-

-

0.1

    Warrants Converted

1.0

-

-

-

-

Issuance (Retirement) of Stock, Net

1.0

-

1.5

-0.4

-0.2

        Short Term Debt Issued

1.8

4.7

3.8

2.4

2.4

        Short Term Debt Reduction

-2.6

-3.5

-4.5

-1.7

-1.5

    Short Term Debt, Net

-0.8

1.2

-0.7

0.7

0.9

        Long Term Debt Issued

-

7.1

0.9

2.1

1.1

        Long Term Debt Reduction

-3.6

-3.0

-1.9

-0.4

-1.3

    Long Term Debt, Net

-3.6

4.0

-1.0

1.7

-0.2

Issuance (Retirement) of Debt, Net

-4.4

5.2

-1.7

2.4

0.8

Cash from Financing Activities

-3.6

4.9

-0.1

1.6

0.1

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

-0.1

-

-

-

Net Change in Cash

-0.1

0.2

1.2

-0.5

0.6

 

 

 

 

 

 

Net Cash - Beginning Balance

8.0

7.5

2.2

3.0

2.9

Net Cash - Ending Balance

7.9

7.7

3.3

2.5

3.5

Cash Interest Paid

0.6

0.5

-

-

-

Cash Taxes Paid

-0.3

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

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Merchandise Sales

6.6

3.9

3.9

1.2

0.1

    Finished Goods Revenues

44.8

35.6

26.3

26.9

25.5

    Rental Revenue

0.0

0.0

-

-

-

    Other Revenue

0.0

0.0

-

-

-

    Adjustment for Revenues

0.0

0.0

-

-

-

Total Revenue

51.5

39.6

30.3

28.1

25.6

 

 

 

 

 

 

    Cost-Merchandise Sold

7.9

4.4

3.4

1.1

0.1

    Cost of Finish. Good

20.3

17.0

14.1

14.9

15.3

    Cost of Other Goods Sold

0.0

0.0

-

-

-

    Adjustment for Cost of Revenue

0.0

0.0

-

-

-

    Salaries

2.3

1.8

1.3

1.5

1.5

    Retirement Allowance

0.3

0.2

0.3

0.2

0.2

    Employee Benefits

0.6

0.3

0.2

0.2

0.3

    Compensations Expenses Associated with S

0.0

0.0

0.0

-

-

    Rental Expenses

0.3

0.2

0.0

0.0

0.0

    Entertainment Expense

0.1

0.1

0.1

0.1

0.1

    Vehicles Expense

0.1

0.1

0.0

0.1

0.0

    Education & Training Expense

0.1

0.1

0.0

0.0

0.0

    Consumable Expense

0.1

0.1

0.0

0.0

0.1

    Depreciation Expense

0.2

0.2

0.1

0.1

0.1

    Amortization of Intangible Assets

1.8

1.5

1.2

1.3

0.9

    Taxes and Dues

0.2

0.1

0.1

0.1

0.1

    Insurance Expense

0.0

0.0

0.0

0.0

0.0

    Printing Expense

0.0

0.0

0.0

0.0

0.0

    Advertising Expense

0.7

0.6

0.4

0.5

0.4

    R & D Expense

2.6

1.9

1.1

1.1

1.2

    Repair Expense

0.0

0.0

0.0

0.0

0.0

    Amort. of Bad Debts

0.1

0.1

0.1

0.0

0.1

    Shipping & Handling Expense

0.9

0.7

0.4

0.3

0.3

    Travel Expense

0.5

0.3

0.2

0.2

0.3

    Communication Exp.

0.1

0.0

0.0

0.0

0.0

    Utility Expense

0.0

0.0

0.0

0.0

0.0

    Electricity Expenses

0.0

0.0

0.0

0.0

0.0

    Commissions Paid

0.5

0.5

0.3

0.3

0.4

    Expenses for Samples

0.0

0.0

0.0

0.0

0.1

    Sales Guarantee

1.3

0.8

0.8

0.6

0.6

    Other Selling and Administrative Expense

-

0.0

-

-

-

    Adjustment for Selling and Administrativ

-

0.0

-

-

-

Total Operating Expense

41.1

31.2

24.3

22.8

22.4

 

 

 

 

 

 

    Gain on Sale of Trading Securities

-

-

-

-

0.3

    Gain on Interest Swap Transactions

0.0

-

0.0

-

-

    Gains on Valuation of Interest Swap

-

-

0.0

-

-

    Interest Income

0.3

0.1

0.1

0.2

0.2

    Gain on Foreign Currency Transactions

0.8

0.5

1.1

1.3

0.1

    Gain on Foreign Currency Translations

0.1

0.0

0.0

0.0

0.0

    Gains on Currency Forward Transactions

0.5

0.1

-

-

0.0

    Gain-Currency Option Transaction

0.4

0.1

-

0.0

-

    Gain on Valuation of Currency Option

-

0.0

-

-

-

    Gains on Settlement of Futures Transacti

0.1

0.1

-

-

0.0

    Gain on Disposal of Financial Assets at

-

0.0

-

-

-

    Gain on Disposal of Investments in Affil

-

0.0

-

-

-

    Gains on Valuation of Trading Securities

-

-

0.0

-

0.0

    Recovery-Tariffs, Non-Operating

-

-

-

-

0.0

    Gain on Disposal of Property, Plant and

0.0

0.0

0.0

0.0

0.0

    Recovery-Loan Loss Reserve

-

-

-

0.0

-

    Other Non-Op. Income

0.0

0.0

0.0

0.1

0.1

    Adjustment for Other Non-Operating Incom

0.0

0.0

-

-

-

    Interest Expenses

-0.6

-0.5

-0.3

-0.5

-0.5

    Loss on Foreign Currency Transactions

-0.6

-0.6

-0.7

-0.3

-0.1

    Loss on Valuation of Currency Option

-0.9

-

-

-

-0.1

    Loss-Valuation of ST Marketable Sec.

0.0

0.0

-

-0.1

-0.1

    Loss-Currency Option Transaction

-0.1

0.0

-

-0.7

-

    Loss on Valuation of Interest Swap

-

0.0

-

-0.1

-

    Loss on Interest Swap Transactions

0.0

0.0

0.0

-

-

    Loss on Foreign Currency Translations

-0.2

-0.2

-0.4

-0.3

0.0

    Donations Paid

0.0

0.0

0.0

0.0

0.0

    Loss-Scrapping of inventory

-

-

0.0

0.0

0.0

    Loss-Reduction of Development Expenses

-

-

-

-0.3

-

    Impairment Loss on Intangible Assets

-0.7

-0.1

-

-

-

    Losses on Sale of Property, Plant and Eq

-

-

0.0

-

0.0

    L-Other Currency Futures Trade

-

-

-

-

0.0

    Losses on Currency Forward Transactions

0.0

-0.4

-

-

0.0

    Impairment Losses on Available for Sale

-

0.0

-

-

-

    Miscellaneous Loss

0.0

0.0

0.0

0.0

0.0

    Loss-Futures Transaction

-0.2

0.0

-

-

-

    Loss on Valuation of Currency Forward

-0.4

0.0

-

-

-

    Gain under Equity Method

0.0

-

0.6

-

-

    Loss under Equity Method

-

-0.1

-0.4

-0.1

-0.2

    Adjustment for Other Non-Operating Expen

-

0.0

-

-

-

    Adjustment for Finance Income

0.0

0.0

-

-

-

    Adjustment for Finance Expense

0.0

0.0

-

-

-

Net Income Before Taxes

8.9

7.3

5.9

4.3

2.9

 

 

 

 

 

 

Provision for Income Taxes

0.3

0.8

0.6

0.6

0.2

Net Income After Taxes

8.5

6.5

5.3

3.7

2.7

 

 

 

 

 

 

    Minority Interest

-0.6

-0.4

-

-

-

Net Income Before Extra. Items

7.9

6.1

5.3

3.7

2.7

Net Income

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Income Available to Com Excl E

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Income Available to Com Incl E

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Basic Weighted Average Shares

9.2

9.2

8.8

8.7

9.0

Basic EPS Excluding ExtraOrdin

0.86

0.66

0.61

0.42

0.30

Basic EPS Including ExtraOrdin

0.86

0.66

0.61

0.42

0.30

Dilution Adjustment

0.1

0.1

0.0

0.0

0.0

Diluted Net Income

8.0

6.2

5.3

3.7

2.7

Diluted Weighted Average Share

9.8

9.5

9.0

8.7

9.0

Diluted EPS Excluding ExtraOrd

0.82

0.65

0.59

0.42

0.30

Diluted EPS Including ExtraOrd

0.82

0.65

0.59

0.42

0.30

DPS-Common Stock

0.14

0.09

0.08

0.05

0.05

Gross Dividends - Common Stock

1.3

0.8

0.7

0.4

0.5

Normalized Income Before Taxes

8.9

7.3

5.9

4.3

2.9

 

 

 

 

 

 

Inc Tax Ex. Impact of Sp Items

0.3

0.8

0.6

0.6

0.2

Normalized Income After Taxes

8.5

6.5

5.3

3.7

2.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Basic Normalized EPS

0.86

0.66

0.61

0.43

0.30

Diluted Normalized EPS

0.82

0.65

0.59

0.43

0.30

Rental Expense, Supplemental

0.3

0.2

0.0

0.0

0.0

Advertising Expense, Supplemental

0.7

0.6

0.4

0.5

0.4

Interest Expense, Supplemental

0.6

0.5

0.3

0.5

0.5

R&D Expense, Supplemental

2.6

1.9

1.1

1.1

1.2

Depreciation, Supplemental

1.7

1.5

1.1

1.1

0.8

Amort of Intangibles, Supplemental

1.8

1.5

1.2

1.3

0.9

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Cash Equivalents

7.6

7.9

3.7

2.2

3.5

    ST Finl Assets

-

-

0.3

0.6

0.1

    ST Trade Securities

0.0

0.0

0.1

0.1

0.2

    Deposits by Savings

2.5

1.5

-

-

-

    Held-to-Maturity Securities Current

-

0.1

-

-

-

    Adjustments for Other Financial Instrume

-

-

-

-

-

    Trade Receivable, Gross

7.4

6.2

5.4

3.8

4.0

    Allw-Doubtful Ac

-0.1

0.0

-0.2

-0.1

-0.2

    Account Receivables

0.1

0.0

0.0

0.0

0.0

    ST Loans

0.4

0.6

0.3

0.0

0.0

    Accrued Income

0.0

0.0

0.0

0.3

0.2

    Adjustment for Trade & Other Receivables

0.0

-

-

-

-

    Advance Payments

1.1

0.7

0.4

0.2

0.5

    Allowance for Doubtful Accounts for Adva

-

-

0.0

-

-

    Prepaid Expenses

0.0

0.0

0.0

0.0

0.0

    Receivable of Corporate Tax Refund

-

0.4

-

-

-

    Prepaid Value Added Taxes

0.8

0.5

0.5

0.3

0.4

    Derivative Assets Current

-

0.0

-

-

-

    Other Financial Instruments

0.4

0.2

0.0

0.0

0.0

    Adjustment for Other Current Assets

0.0

0.0

-

-

-

    Current Dfrd Taxes

-

-

0.2

0.1

0.1

    Finished Goods

1.8

1.6

0.9

0.9

1.2

    Work in Progress

-

-

-

0.1

0.2

    Raw Materials

4.8

2.9

1.4

1.5

1.7

    Goods in Transit

0.0

-

-

0.0

-

    Adjustment for Inventories

-

0.1

-

-

-

Total Current Assets

27.0

22.7

12.9

10.0

12.0

 

 

 

 

 

 

    Long-term Financial Instruments

-

-

-

-

0.4

    Secs avail. for Sale

0.2

0.6

0.6

2.4

3.2

    Non-Current Deposits by Savings

0.1

0.0

-

-

-

    Investment in Affiliates

0.3

0.2

-

-

-

    Equity Method Investment Securities

-

-

3.4

3.2

2.4

    Securities held till Maturity

-

-

0.1

0.1

0.1

    Guarantee Deposits, Non-Current Assets

0.2

0.1

0.9

0.7

1.0

    Adjustment for Non-Current Financial Ins

0.0

0.0

-

-

-

    LA Deferred Tax

0.5

0.0

0.4

0.2

0.5

    LT Loan

-

-

-

0.2

-

    Lands

6.4

6.5

6.4

3.6

1.3

    Building

8.1

8.2

4.4

4.0

5.4

    Buildings-Depreciation

-1.0

-0.8

-0.7

-0.5

-0.5

    Structure

0.1

0.1

0.1

0.1

0.1

    Structures-Depreciation

0.0

0.0

0.0

0.0

0.0

    Machineries & Equipments

1.8

1.4

0.6

0.2

0.3

    Machineries & Equipments-Depreciation

-0.4

-0.3

-0.2

-0.2

-0.3

    Moldings

6.7

6.2

4.6

3.6

3.3

    Deprec-Moldings

-4.3

-3.4

-3.0

-2.1

-2.2

    Tools & Equipments

1.2

1.1

0.6

0.5

0.6

    Depr-Tool/Equip

-0.8

-0.6

-0.5

-0.4

-0.4

    Vehicles

0.2

0.2

0.1

0.1

0.2

    Vehicles-Depreciation

-0.1

-0.1

-0.1

-0.1

-0.1

    Fixtures

0.8

0.7

0.3

0.3

0.3

    Fixtures-Depreciation

-0.4

-0.3

-0.2

-0.2

-0.3

    Construc in Prog

1.0

0.1

2.0

0.3

0.7

    Adjustment for Property, Plant & Equipme

0.0

0.0

-

-

-

    Industrial Patnt

0.1

0.1

0.1

0.1

0.1

    Development Costs

10.6

9.3

7.2

5.2

6.2

    Membership Rights

0.5

0.5

-

-

-

    Government Subsidy, Total

0.0

-0.1

-0.2

-

-

    Other Intangible

0.4

0.3

0.3

0.0

0.1

    Adjustment for Intangible Assets

0.0

0.0

-

-

-

Total Assets

59.1

52.7

40.0

31.4

34.5

 

 

 

 

 

 

    Current Trade Payables

1.5

1.7

1.6

1.1

1.7

    Accounts Payable

0.4

0.5

0.4

0.2

0.4

    Adjustment for Current Trade & Other Pay

0.0

0.0

-

-

-

    ST Borrowings

3.5

4.3

3.0

3.5

3.9

    Bonds With Stock Warrants, Current Liabi

5.1

-

-

-

-

    Currency Options

-

-

-

-

0.1

    Current LT Liab.

0.1

2.5

1.3

0.3

0.4

    Interest Rate Swap, Current

1.0

0.1

0.0

0.0

-

    Accrued Expenses

0.0

0.1

0.0

0.0

0.0

    Unearned Income

0.0

0.0

0.0

-

-

    Advance from Customers, Current Liabilit

0.6

0.2

0.0

0.2

0.2

    Deposit Withheld

0.2

0.1

0.3

0.2

0.3

    Bonds, Current Liabilities

-

-

-

1.6

-

    Income Taxes Payables

0.5

0.1

0.5

0.4

0.3

    Leasehold Deposits Received

0.1

0.0

-

-

-

    Adjustment for Other Current Liabilities

0.0

0.0

-

-

-

Total Current Liability

12.9

9.6

7.1

7.6

7.3

 

 

 

 

 

 

    LT Borrowings

-

0.1

3.2

3.2

2.3

    Bonds

-

-

-

-

2.1

    Bonds With Stock Warrants, Non-Current L

-

6.1

-

-

-

Total Long Term Debt

-

6.2

3.2

3.2

4.4

 

 

 

 

 

 

    Rsv-Sales Gurant

1.0

0.6

0.6

0.3

0.4

    Retirement & Severance Benefits, Non-Cur

0.1

0.0

-

-

-

    Retirement Resrv

-

-

2.3

1.6

1.9

    Non-Current Derivatives Liabilities

0.3

-

0.0

0.1

-

    Minority Interests

2.5

1.8

-

-

-

Total Liabilities

16.8

18.1

13.2

12.8

14.0

 

 

 

 

 

 

    Common Stock

4.4

4.2

4.0

3.6

4.9

    Additional Paid in Capital

3.4

1.9

1.2

0.6

0.8

    Legal Reserve

-

-

0.2

0.1

0.1

    Capital Change, Equity Method

0.0

0.0

0.7

0.8

0.1

    Loss on Valuation of Securities Availabl

-0.8

-0.5

-0.5

-

-

    Actuarial Losses

-0.4

-0.3

-

-

-

    Ret Earn Carried

-

-

20.5

14.0

15.0

    Retained Earnings or Accumulated Deficit

34.9

28.5

-

-

-

    Treasury Stock

-0.5

-0.5

-0.5

-1.1

-1.0

    Stock Options

0.2

0.3

0.5

0.6

0.7

    Loss on Disposal of Treasury Stocks

-

-

-

0.0

0.0

    Consideration for Stock Warrants

0.1

0.1

-

-

-

    Gains on Disposal of Treasury Stock

0.7

0.7

0.7

-

-

    Adjustment for Capital Surplus

0.0

0.0

-

-

-

    Adjustment for Capital Adjustment

0.0

0.0

-

-

-

    Overseas Business Translation Credit/Deb

0.3

0.0

-

-

-

    Adjustment for Accumulated Other Compreh

0.0

0.0

-

-

-

Total Equity

42.3

34.5

26.8

18.5

20.5

 

 

 

 

 

 

Total Liabilities & Shareholde

59.1

52.7

40.0

31.4

34.5

 

 

 

 

 

 

    S/O-Common Stock

9.9

9.3

9.1

8.4

8.8

Total Common Shares Outstandin

9.9

9.3

9.1

8.4

8.8

T/S-Common Stock

0.3

0.3

0.3

0.7

0.3

Deferred Revenue, Current

0.6

0.2

0.0

0.2

0.2

Full-Time Employees

140

115

124

109

103

Number of Common Shareholders

-

2,751

3,389

1,686

1,747

LT Debt 1 yr

-

-

2.4

0.3

0.4

LT Debt 2 yrs

-

-

0.8

1.1

0.4

LT Debt 3 yrs

-

-

-

2.1

1.5

LT Debt 4 yrs

-

-

-

-

0.4

Total Long Term Debt, Supplemental

-

-

3.2

3.5

2.7

Operating Lease Maturing in Year 1

-

-

0.0

0.0

0.1

Operating Lease Maturing in Year 2

-

-

0.0

0.0

0.0

Operating Lease Maturing in Year 3

-

-

0.0

-

0.0

Total Operating Leases

-

-

0.1

0.0

0.1

 

 

 

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

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

8.5

6.5

5.3

3.7

2.7

    Depreciation

1.7

1.5

1.1

1.1

0.8

    Amort.-Intangible

1.8

1.5

1.2

1.3

0.9

    Stock Compensation

0.1

0.1

0.1

0.0

-

    Payment for Retirement Allowance, ONCI

0.6

0.6

0.6

0.4

0.6

    Expense of Allowance for Doubtful Accoun

0.1

0.1

0.1

0.0

0.1

    Sales Guarantee Expense

0.4

-

0.2

-

0.0

    Amortization of Stock Warrants Adjustmen

0.1

0.0

-

-

-

    Interest Expenses

0.5

0.5

-

-

-

    Corporate Taxes Expense

0.3

0.8

-

-

-

    Loss under Equity Method

-

0.1

0.4

0.1

0.2

    Losses on Sale of Property, Plant and Eq

-

-

0.0

-

0.0

    Loss-ST Marketable Securities Valuation

0.0

0.0

-

0.1

0.1

    Impairment Loss on Intangible Assets

0.1

0.1

-

-

-

    Impairment Losses on Available for Sale

-

0.0

-

-

-

    Loss on Valuation of Currency Options

0.9

-

-

-

-

    Loss-Valuation of Currency Futures

0.4

0.0

-

-

0.1

    Loss-Scraping of Inventory

-

-

0.0

0.0

0.0

    Loss-Valuation of Interest Rate Swaps

-

0.0

-

0.1

-

    L-For Exch Translatn

0.2

0.2

0.0

0.2

0.0

    Impairment Loss on Development Cost

0.6

-

-

0.3

-

    Interest Income

-0.3

-0.1

-

-

-

    G-For Exch Translatn

-0.1

0.0

0.0

0.0

0.0

    Recovery-Provision Doubtful Account

-

-

-

0.0

-

    Gain-ST Marketable Securities Disposal

-

0.0

-

-

-0.3

    Gain on Disposal of Property, Plant and

0.0

0.0

0.0

0.0

0.0

    Gain-Valuation of Interest Rate Swap

-

-

0.0

-

-

    Gain under Equity Method

0.0

-

-0.6

-

-

    Gains on Valuation of Trading Securities

-

-

0.0

-

0.0

    Gain on Disposal of Investment in Affili

-

0.0

-

-

-

    Income-Valuation of Currency Options

-

0.0

-

-

-

    Trade Receivables

-0.2

-0.7

-1.2

-1.2

-0.1

    Other Receivables

-0.4

0.0

0.0

0.0

0.0

    Advance Payments

-

-

-0.2

0.2

-0.5

    Prepaid Expenses

-

-

0.0

0.0

0.0

    Deposit-Futures Tr

-0.3

-0.1

0.0

0.0

0.1

    Ppd Valu Added Taxes

-

-

-0.2

0.0

-0.2

    Corporate Tax Refundable

-

-

-

-

0.0

    Accrued Income

-

-

0.3

-0.2

-0.1

    Inventory

-2.2

-1.6

0.5

-0.3

-0.7

    Current Deferred Taxes-Asset

-

-

0.0

-0.1

0.0

    Deferred Taxes-Asset

-

-

0.0

0.0

-0.1

    Other Current Assets

-0.5

-0.2

-

-

-

    Decrease in Other Non-Current Assets

-0.3

0.6

-

-

-

    Trade Payables

-1.3

-0.1

0.3

-0.2

0.5

    Other Payables

0.2

-0.4

0.1

-0.1

0.1

    Advances Received

-

-

-0.1

0.1

0.2

    Deposits Withheld

-

-

0.1

0.0

0.0

    Current Derivatives Assets

0.0

-

-

-

0.1

    Accrued Expenses

-

-

0.0

0.0

0.0

    Accrued Inc Tax

-

-

-0.2

0.3

0.3

    Currency Options

-

-

-

-0.1

-

    Interest Rate Swap

-0.4

0.0

0.0

-

-

    Non-Current Derivatives Liabilities

0.3

-

-

-

-

    Increase or Decrease in Unearned Income

-

-

0.0

-

-

    Retiremt Allow Paymt

-0.1

-0.4

-0.1

-0.2

-0.3

    Retirement Pension Operating Fund

-0.6

-2.6

-

-

-

    Overseas Business Translation Credit

0.3

0.0

-

-

-

    Other Current Liabilities

0.5

0.0

-

-

-

    Cash-Interest Received

0.2

0.1

-

-

-

    Cash-Interest Paid

-0.6

-0.5

-

-

-

    Cash-Tax Refunded

0.3

-1.2

-

-

-

Cash From Operating Activities

11.2

4.6

7.6

5.7

4.6

 

 

 

 

 

 

    Dec-ST Finl Asset

-

1.0

2.1

0.5

0.7

    Decrease in Long-term Loans

-

-

0.2

-

-

    Dec-Guarantee Dep.

-

-

0.1

0.1

0.5

    Decrease in Other Receivables

0.2

0.5

-

-

-

    Dec-Employ ST Ln

-

-

0.1

0.0

0.0

    Proceeds from Sale of Available for sale

-

-

1.2

-

-

    Proceeds from Sale of Equity Method Secu

-

0.0

-

-

-

    Disposal-Supplies

-

-

-

-

0.0

    Disposal-Transportation

-

-

-

-

0.0

    Disposal-Moldings

-

-

0.0

0.0

-

    Disposal of Financial Assets Held to Mat

0.1

-

-

-

0.1

    Decr-ST Trade Securities

-

-

-

-

2.4

    Proceeds from Sale of Trading Securities

-

0.1

-

-

-

    Disposal of Other Non-Current Finacial I

0.0

0.1

-

-

-

    Proceeds from Sale of Vehicles

-

-

0.0

-

-

    Disposal of Property, Plant and Equipmen

0.0

0.0

-

-

-

    Increase in Other Receivables

-

-0.7

-

-

-

    Incr-ST Loans

-

-

-0.4

0.0

-

    Inc-ST Finl Asset

-

-

-1.8

-0.5

0.0

    Inc-LT Finl Asset

-

-

-

-0.2

-0.3

    Increase-LT Loans

-

-

-

-0.2

-

    Acq-ST Trade Securities

-

-

-

-

-1.1

    Inc-Secs avail. for Sale

-

-

-

-

0.0

    Increase-Securities under Equity Method

-

-

-

-0.7

-2.5

    Purchase of Other Current Finacial Instr

-1.1

-2.2

-

-

-

    Purchase of Other Non-Current Finacial I

-0.2

-0.1

-

-

-

    Inc-Guarantee Dep

-

-

-0.2

-0.1

-0.2

    Purchase of Buildings

-

-

-

-

0.0

    Acq-Molding Equipmt

-

-

-0.2

-0.9

-0.8

    Acq-Tools/Equipmt

-

-

-0.1

-0.1

-0.2

    Purchase of Vehicles

-

-

0.0

-

-

    Purchase of Machinery

-

-

-0.1

-

-

    Increase-Transportation

-

-

-

-

0.0

    Acq-Fixtures

-

-

-0.1

-0.1

0.0

    Acq-Constructn Prog

-

-

-2.3

-0.4

-0.7

    Purchase of Property, Plant and Equipmen

-2.3

-4.3

-

-

-

    Acq-Industr.Patent

-

-

0.0

0.0

0.0

    Acq-Dev't Cost

-

-

-2.4

-2.2

-1.9

    Purchase of Other Intangible Assets

-

-

-0.2

-

0.0

    Purchase of Intangible Assets

-4.3

-3.5

-

-

-

    Increase-Land

-

-

-2.3

-3.0

-

Cash From Investing Activities

-7.6

-9.2

-6.3

-7.8

-4.0

 

 

 

 

 

 

    Inc-ST Borrowings

1.8

4.7

3.8

2.4

2.4

    Inc-LT Borrowing

-

1.0

0.9

2.1

1.1

    Inc-Stock Options

-

-

-

-

0.1

    Increase in Bonds

-

6.1

-

-

-

    Proceeds from Sale of Treasury Stock

-

-

1.5

-

-

    Decrease in Current Borrowings

-2.6

-3.5

-4.5

-1.7

-1.5

    Decrease-Current Portion of Bond

-

-

-1.6

-

-

    Dec-Current Portion of LT Liabilities

-2.5

-1.3

-0.3

-0.4

-1.3

    Decrease in Bonds with Warrant

-1.0

-

-

-

-

    Increase-LT Unearned Income

0.6

0.6

0.4

-

-

    Dividend Paid

-0.8

-0.9

-0.3

-0.4

-0.5

    Repayments of Long-term Borrowings

-

-1.7

-

-

-

    Inc-Stock Issue Cost

-

-

-

-

0.0

    Increase-Rent Guarantee Deposit

0.1

0.0

-

-

-

    Acq-Treasury Stock

-

-

-

-0.4

-0.3

    Exercise of Stock Warrants

1.0

-

-

-

-

Cash From Financing Activities

-3.6

4.9

-0.1

1.6

0.1

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

-0.1

-

-

-

Net Change in Cash

-0.1

0.2

1.2

-0.5

0.6

 

 

 

 

 

 

Cash and Cash Equivalents at Beginning

8.0

7.5

2.2

3.0

2.9

Cash and Cash Equivalents at End

7.9

7.7

3.3

2.5

3.5

    Cash Interest Paid

0.6

0.5

-

-

-

    Cash Taxes Paid

-0.3

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 

12.3

16.69%

51.5

24.48%

22.64%

22.08%

Research & Development1 

-

-

2.6

29.98%

33.13%

26.29%

Operating Income1 

1.7

-8.57%

10.4

17.99%

25.70%

38.39%

Income Available to Common Excl Extraord Items1 

2.0

17.21%

7.9

24.38%

29.12%

35.88%

Basic EPS Excl Extraord Items1 

0.19

7.17%

0.86

25.18%

27.06%

34.81%

Capital Expenditures2 

2.6

101.27%

6.6

-18.65%

-0.04%

4.48%

Cash from Operating Activities2 

1.0

-66.30%

11.2

132.22%

25.11%

30.49%

Free Cash Flow 

-1.6

-

4.4

-

-

-

Total Assets3 

60.7

18.24%

59.1

13.97%

19.93%

19.21%

Total Liabilities3 

15.7

-4.59%

16.8

-6.13%

6.21%

11.87%

Total Long Term Debt3 

0.0

-

0.0

-

-

-

Employees3 

-

-

140

21.74%

8.70%

5.72%

Total Common Shares Outstanding3 

10.4

11.47%

9.9

6.03%

5.54%

2.37%

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 

45.27%

46.06%

42.05%

43.14%

40.01%

Operating Margin 

20.14%

21.25%

19.72%

18.71%

12.67%

Pretax Margin 

17.24%

18.44%

19.57%

15.18%

11.14%

Net Profit Margin 

15.38%

15.39%

17.55%

13.18%

10.40%

Financial Strength

Current Ratio 

2.09

2.36

1.82

1.31

1.64

Long Term Debt/Equity 

0.00

0.18

0.12

0.17

0.22

Total Debt/Equity 

0.20

0.38

0.28

0.47

0.43

Interest Coverage 

-

40,567,090.08

-

-

-

Management Effectiveness

Return on Assets 

14.80%

14.05%

15.76%

11.35%

8.17%

Return on Equity 

19.95%

20.05%

24.86%

19.16%

13.59%

Efficiency

Receivables Turnover 

6.62

6.22

6.71

7.02

6.37

Inventory Turnover 

4.22

5.51

6.87

5.15

5.01

Asset Turnover 

0.89

0.86

0.90

0.86

0.79

Market Valuation USD (mil)

P/E (TTM) 

11.15

.

Enterprise Value2 

94.3

Price/Sales (TTM) 

1.80

.

Enterprise Value/Revenue (TTM) 

1.82

Price/Book (MRQ) 

2.07

.

Enterprise Value/EBITDA (TTM) 

7.00

Market Cap as of 03-Aug-20121

93.9

.

 

 

1-ExchangeRate: KRW to USD on 3-Aug-2012

1132.186575

 

 

 

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 

2.09

2.36

1.82

1.31

1.64

Quick/Acid Test Ratio 

1.39

1.75

1.35

0.90

1.09

Working Capital1 

14.1

13.1

5.8

2.4

4.7

Long Term Debt/Equity 

0.00

0.18

0.12

0.17

0.22

Total Debt/Equity 

0.20

0.38

0.28

0.47

0.43

Long Term Debt/Total Capital 

0.00

0.13

0.09

0.12

0.15

Total Debt/Total Capital 

0.17

0.27

0.22

0.32

0.30

Interest Coverage 

-

40,567,090.08

-

-

-

Payout Ratio 

15.66%

13.07%

12.93%

10.71%

18.16%

Effective Tax Rate 

3.74%

11.56%

10.32%

13.20%

6.64%

Total Capital1 

50.9

47.5

34.3

27.2

29.3

 

 

 

 

 

 

Efficiency

Asset Turnover 

0.89

0.86

0.90

0.86

0.79

Inventory Turnover 

4.22

5.51

6.87

5.15

5.01

Days In Inventory 

86.52

66.23

53.11

70.84

72.88

Receivables Turnover 

6.62

6.22

6.71

7.02

6.37

Days Receivables Outstanding 

55.17

58.72

54.36

51.96

57.26

Revenue/Employee2 

353,636

351,065

267,547

225,198

246,975

Operating Income/Employee2 

71,225

74,598

52,770

42,127

31,304

EBITDA/Employee2 

95,535

100,955

73,035

61,310

47,647

 

 

 

 

 

 

Profitability

Gross Margin 

45.27%

46.06%

42.05%

43.14%

40.01%

Operating Margin 

20.14%

21.25%

19.72%

18.71%

12.67%

EBITDA Margin 

27.02%

28.76%

27.30%

27.23%

19.29%

EBIT Margin 

20.14%

21.25%

19.72%

18.71%

12.67%

Pretax Margin 

17.24%

18.44%

19.57%

15.18%

11.14%

Net Profit Margin 

15.38%

15.39%

17.55%

13.18%

10.40%

R&D Expense/Revenue 

4.99%

4.77%

3.75%

3.90%

4.67%

COGS/Revenue 

54.69%

53.87%

57.95%

56.86%

59.99%

SG&A Expense/Revenue 

16.16%

15.71%

14.22%

15.53%

18.71%

 

 

 

 

 

 

Management Effectiveness

Return on Assets 

14.80%

14.05%

15.76%

11.35%

8.17%

Return on Equity 

19.95%

20.05%

24.86%

19.16%

13.59%

 

 

 

 

 

 

Valuation

Free Cash Flow/Share2 

0.44

-0.35

-0.01

-0.10

0.10

Operating Cash Flow/Share 2 

1.08

0.50

0.92

0.59

0.52

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) 

11.15

Market Cap/Equity (MRQ) 

2.07

Market Cap/Revenue (TTM) 

1.80

Market Cap/EBIT (TTM) 

9.40

Market Cap/EBITDA (TTM) 

6.93

Enterprise Value/Earnings (TTM) 

11.26

Enterprise Value/Equity (MRQ) 

2.10

Enterprise Value/Revenue (TTM) 

1.82

Enterprise Value/EBIT (TTM) 

9.50

Enterprise Value/EBITDA (TTM) 

7.00

 

Annual Income Statement

Standardized

 

Financials in: USD (mil) 

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

 

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Net Sales

51.4

39.6

30.3

28.1

25.6

Revenue

51.4

39.6

30.3

28.1

25.6

    Other Revenue

0.0

0.0

-

-

-

Other Revenue, Total

0.0

0.0

-

-

-

Total Revenue

51.5

39.6

30.3

28.1

25.6

 

 

 

 

 

 

    Cost of Revenue

28.2

21.3

17.5

16.0

15.4

Cost of Revenue, Total

28.2

21.3

17.5

16.0

15.4

Gross Profit

23.3

18.2

12.7

12.1

10.3

 

 

 

 

 

 

    Selling/General/Administrative Expense

4.3

3.2

2.1

2.0

2.3

    Labor & Related Expense

3.3

2.4

1.8

1.9

2.1

    Advertising Expense

0.7

0.6

0.4

0.5

0.4

Total Selling/General/Administrative Expenses

8.3

6.2

4.3

4.4

4.8

Research & Development

2.6

1.9

1.1

1.1

1.2

    Depreciation

0.2

0.2

0.1

0.1

0.1

    Amortization of Intangibles

1.8

1.5

1.2

1.3

0.9

Depreciation/Amortization

2.1

1.7

1.3

1.4

1.0

Total Operating Expense

41.1

31.2

24.3

22.8

22.4

 

 

 

 

 

 

Operating Income

10.4

8.4

6.0

5.3

3.2

 

 

 

 

 

 

        Interest Expense - Non-Operating

-0.6

-0.5

-0.3

-0.5

-0.5

    Interest Expense, Net Non-Operating

-0.6

-0.5

-0.3

-0.5

-0.5

        Interest Income - Non-Operating

0.3

0.1

0.1

0.2

0.2

        Investment Income - Non-Operating

-1.3

-0.7

0.2

-0.7

-0.2

    Interest/Investment Income - Non-Operating

-0.9

-0.6

0.3

-0.5

0.0

    Interest Income (Expense) - Net Non-Operating

0.0

0.0

-

-

-

Interest Income (Expense) - Net Non-Operating Total

-1.5

-1.1

0.0

-1.1

-0.5

Gain (Loss) on Sale of Assets

0.0

0.0

0.0

0.0

0.0

    Other Non-Operating Income (Expense)

0.0

0.0

0.0

0.1

0.1

Other, Net

0.0

0.0

0.0

0.1

0.1

Income Before Tax

8.9

7.3

5.9

4.3

2.9

 

 

 

 

 

 

Total Income Tax

0.3

0.8

0.6

0.6

0.2

Income After Tax

8.5

6.5

5.3

3.7

2.7

 

 

 

 

 

 

    Minority Interest

-0.6

-0.4

-

-

-

Net Income Before Extraord Items

7.9

6.1

5.3

3.7

2.7

Net Income

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

9.2

9.2

8.8

8.7

9.0

Basic EPS Excl Extraord Items

0.86

0.66

0.61

0.42

0.30

Basic/Primary EPS Incl Extraord Items

0.86

0.66

0.61

0.42

0.30

Dilution Adjustment

0.1

0.1

0.0

0.0

0.0

Diluted Net Income

8.0

6.2

5.3

3.7

2.7

Diluted Weighted Average Shares

9.8

9.5

9.0

8.7

9.0

Diluted EPS Excl Extraord Items

0.82

0.65

0.59

0.42

0.30

Diluted EPS Incl Extraord Items

0.82

0.65

0.59

0.42

0.30

Dividends per Share - Common Stock Primary Issue

0.14

0.09

0.08

0.05

0.05

Gross Dividends - Common Stock

1.3

0.8

0.7

0.4

0.5

Interest Expense, Supplemental

0.6

0.5

0.3

0.5

0.5

Depreciation, Supplemental

1.7

1.5

1.1

1.1

0.8

Total Special Items

0.0

0.0

0.0

0.0

0.0

Normalized Income Before Tax

8.9

7.3

5.9

4.3

2.9

 

 

 

 

 

 

Effect of Special Items on Income Taxes

0.0

0.0

0.0

0.0

0.0

Inc Tax Ex Impact of Sp Items

0.3

0.8

0.6

0.6

0.2

Normalized Income After Tax

8.5

6.5

5.3

3.7

2.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Basic Normalized EPS

0.86

0.66

0.61

0.43

0.30

Diluted Normalized EPS

0.82

0.65

0.59

0.43

0.30

Amort of Intangibles, Supplemental

1.8

1.5

1.2

1.3

0.9

Rental Expenses

0.3

0.2

0.0

0.0

0.0

Advertising Expense, Supplemental

0.7

0.6

0.4

0.5

0.4

Research & Development Exp, Supplemental

2.6

1.9

1.1

1.1

1.2

Normalized EBIT

10.4

8.4

6.0

5.3

3.2

Normalized EBITDA

13.9

11.4

8.3

7.6

4.9

 

 

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

12 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Special 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Reclassified Calculated 
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1107.891393

1082.999462

1083.436022

1120.28956

 

 

 

 

 

 

    Net Sales

12.3

51.5

13.3

13.4

10.6

Revenue

12.3

51.5

13.3

13.4

10.6

Total Revenue

12.3

51.5

13.3

13.4

10.6

 

 

 

 

 

 

    Cost of Revenue

7.7

28.2

8.3

8.4

6.4

Cost of Revenue, Total

7.7

28.2

8.3

8.4

6.4

Gross Profit

4.5

23.3

5.0

5.0

4.2

 

 

 

 

 

 

    Selling/General/Administrative Expense

2.8

13.0

2.6

2.5

2.3

Total Selling/General/Administrative Expenses

2.8

13.0

2.6

2.5

2.3

Total Operating Expense

10.6

41.1

10.9

10.9

8.7

 

 

 

 

 

 

Operating Income

1.7

10.4

2.4

2.5

1.9

 

 

 

 

 

 

        Investment Income - Non-Operating

-

0.0

-

-

-

    Interest/Investment Income - Non-Operating

-

0.0

-

-

-

    Interest Income (Expense) - Net Non-Operating

0.6

-0.9

-2.6

0.4

0.3

Interest Income (Expense) - Net Non-Operating Total

0.6

-0.8

-2.6

0.4

0.3

    Other Non-Operating Income (Expense)

-0.1

-0.7

0.6

-0.2

-0.2

Other, Net

-0.1

-0.7

0.6

-0.2

-0.2

Income Before Tax

2.3

8.9

0.4

2.7

2.0

 

 

 

 

 

 

Total Income Tax

0.3

0.3

0.0

0.2

0.3

Income After Tax

2.0

8.5

0.4

2.5

1.7

 

 

 

 

 

 

    Minority Interest

-

-0.6

-

-

-

Net Income Before Extraord Items

2.0

7.9

0.4

2.5

1.7

Net Income

2.0

7.9

0.4

2.5

1.7

 

 

 

 

 

 

Income Available to Common Excl Extraord Items

2.0

7.9

0.4

2.5

1.7

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

2.0

7.9

0.4

2.5

1.7

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

10.2

9.2

9.2

9.0

9.3

Basic EPS Excl Extraord Items

0.19

0.86

0.04

0.28

0.18

Basic/Primary EPS Incl Extraord Items

0.19

0.86

0.04

0.28

0.18

Dilution Adjustment

0.0

0.1

0.0

0.1

0.0

Diluted Net Income

2.0

8.0

0.4

2.6

1.7

Diluted Weighted Average Shares

11.2

9.8

9.2

9.8

10.0

Diluted EPS Excl Extraord Items

0.18

0.82

0.04

0.27

0.17

Diluted EPS Incl Extraord Items

0.18

0.82

0.04

0.27

0.17

Dividends per Share - Common Stock Primary Issue

0.00

0.14

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

1.3

0.0

0.0

0.0

Interest Expense, Supplemental

0.1

0.6

0.1

0.2

0.2

Depreciation, Supplemental

0.4

1.7

0.4

0.4

0.4

Normalized Income Before Tax

2.3

8.9

0.4

2.7

2.0

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

0.3

0.3

0.0

0.2

0.3

Normalized Income After Tax

2.0

8.5

0.4

2.5

1.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

2.0

7.9

0.4

2.5

1.7

 

 

 

 

 

 

Basic Normalized EPS

0.19

0.86

0.04

0.28

0.18

Diluted Normalized EPS

0.18

0.82

0.04

0.27

0.17

Amort of Intangibles, Supplemental

0.4

1.8

0.5

0.5

0.4

Rental Expenses

0.0

0.3

0.0

0.0

0.0

Advertising Expense, Supplemental

0.2

0.7

0.1

0.1

0.2

Research & Development Exp, Supplemental

0.6

2.6

0.5

0.5

0.4

Normalized EBIT

1.7

10.4

2.4

2.5

1.9

Normalized EBITDA

2.5

13.9

3.2

3.4

2.6

 

 

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

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Equivalents

7.6

7.9

3.7

2.2

3.5

    Short Term Investments

2.6

1.6

0.4

0.6

0.4

Cash and Short Term Investments

10.2

9.5

4.0

2.8

3.9

        Accounts Receivable - Trade, Gross

7.4

6.2

5.4

3.8

4.0

        Provision for Doubtful Accounts

-0.1

0.0

-0.2

-0.1

-0.2

    Trade Accounts Receivable - Net

7.3

6.3

5.2

4.0

4.0

    Other Receivables

0.5

1.0

0.3

0.0

0.1

Total Receivables, Net

7.8

7.3

5.6

4.0

4.0

    Inventories - Finished Goods

1.8

1.6

0.9

0.9

1.2

    Inventories - Work In Progress

-

-

-

0.1

0.2

    Inventories - Raw Materials

4.8

2.9

1.4

1.5

1.7

    Inventories - Other

1.1

0.7

0.4

0.2

0.5

Total Inventory

7.7

5.2

2.6

2.7

3.6

Prepaid Expenses

0.8

0.5

0.5

0.3

0.4

    Deferred Income Tax - Current Asset

-

-

0.2

0.1

0.1

    Other Current Assets

0.4

0.2

0.0

0.0

0.0

Other Current Assets, Total

0.4

0.2

0.2

0.2

0.1

Total Current Assets

27.0

22.7

12.9

10.0

12.0

 

 

 

 

 

 

        Buildings

8.2

8.3

4.5

4.1

5.5

        Land/Improvements

6.4

6.5

6.4

3.6

1.3

        Machinery/Equipment

10.7

9.5

6.2

4.7

4.7

        Construction in Progress

1.0

0.1

2.0

0.3

0.7

        Other Property/Plant/Equipment

0.0

0.0

-

-

-

    Property/Plant/Equipment - Gross

26.3

24.4

19.0

12.7

12.2

    Accumulated Depreciation

-7.1

-5.5

-4.7

-3.5

-3.7

Property/Plant/Equipment - Net

19.2

18.9

14.3

9.2

8.5

Intangibles, Net

11.6

10.1

7.4

5.3

6.4

    LT Investment - Affiliate Companies

0.3

0.2

3.4

3.2

2.4

    LT Investments - Other

0.3

0.6

0.7

2.5

3.8

Long Term Investments

0.6

0.8

4.1

5.8

6.2

Note Receivable - Long Term

-

-

-

0.2

-

    Deferred Income Tax - Long Term Asset

0.5

0.0

0.4

0.2

0.5

    Other Long Term Assets

0.2

0.1

0.9

0.7

1.0

Other Long Term Assets, Total

0.7

0.1

1.3

0.9

1.5

Total Assets

59.1

52.7

40.0

31.4

34.5

 

 

 

 

 

 

Accounts Payable

1.5

1.7

1.6

1.1

1.7

Accrued Expenses

0.0

0.1

0.0

0.0

0.0

Notes Payable/Short Term Debt

8.5

4.3

3.0

3.5

3.9

Current Portion - Long Term Debt/Capital Leases

0.1

2.5

1.3

1.9

0.4

    Customer Advances

0.6

0.2

0.0

0.2

0.2

    Security Deposits

0.1

0.0

-

-

-

    Income Taxes Payable

0.5

0.1

0.5

0.4

0.3

    Other Payables

0.4

0.5

0.4

0.2

0.4

    Other Current Liabilities

1.2

0.2

0.3

0.2

0.4

Other Current liabilities, Total

2.8

1.0

1.2

1.0

1.2

Total Current Liabilities

12.9

9.6

7.1

7.6

7.3

 

 

 

 

 

 

    Long Term Debt

-

6.2

3.2

3.2

4.4

Total Long Term Debt

0.0

6.2

3.2

3.2

4.4

Total Debt

8.6

12.9

7.5

8.6

8.8

 

 

 

 

 

 

Minority Interest

2.5

1.8

-

-

-

    Reserves

1.0

0.6

0.6

0.3

0.4

    Pension Benefits - Underfunded

0.1

0.0

2.3

1.6

1.9

    Other Long Term Liabilities

0.3

-

0.0

0.1

-

Other Liabilities, Total

1.4

0.6

2.9

2.0

2.3

Total Liabilities

16.8

18.1

13.2

12.8

14.0

 

 

 

 

 

 

    Common Stock

4.4

4.2

4.0

3.6

4.9

Common Stock

4.4

4.2

4.0

3.6

4.9

Additional Paid-In Capital

3.7

2.3

1.7

1.1

1.4

Retained Earnings (Accumulated Deficit)

34.9

28.5

20.7

14.1

15.1

Treasury Stock - Common

-0.5

-0.5

-0.5

-1.1

-1.0

Unrealized Gain (Loss)

-1.2

-0.8

0.2

0.8

0.1

    Translation Adjustment

0.3

0.0

-

-

-

    Other Equity

0.7

0.7

0.7

-

-

    Other Comprehensive Income

0.0

0.0

-

-

-

Other Equity, Total

1.0

0.7

0.7

-

-

Total Equity

42.3

34.5

26.8

18.5

20.5

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

59.1

52.7

40.0

31.4

34.5

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

9.9

9.3

9.1

8.4

8.8

Total Common Shares Outstanding

9.9

9.3

9.1

8.4

8.8

Treasury Shares - Common Stock Primary Issue

0.3

0.3

0.3

0.7

0.3

Employees

140

115

124

109

103

Number of Common Shareholders

-

2,751

3,389

1,686

1,747

Deferred Revenue - Current

0.6

0.2

0.0

0.2

0.2

Total Long Term Debt, Supplemental

-

-

3.2

3.5

2.7

Long Term Debt Maturing within 1 Year

-

-

2.4

0.3

0.4

Long Term Debt Maturing in Year 2

-

-

0.8

1.1

0.4

Long Term Debt Maturing in Year 3

-

-

-

2.1

1.5

Long Term Debt Maturing in Year 4

-

-

-

-

0.4

Long Term Debt Maturing in 2-3 Years

-

-

0.8

3.2

1.9

Long Term Debt Maturing in 4-5 Years

-

-

-

-

0.4

Long Term Debt Matur. in Year 6 & Beyond

-

-

0.0

0.0

0.0

Total Operating Leases, Supplemental

-

-

0.1

0.0

0.1

Operating Lease Payments Due in Year 1

-

-

0.0

0.0

0.1

Operating Lease Payments Due in Year 2

-

-

0.0

0.0

0.0

Operating Lease Payments Due in Year 3

-

-

0.0

-

0.0

Operating Lease Pymts. Due in 2-3 Years

-

-

0.0

0.0

0.1

Oper. Lse. Pymts. Due in Year 6 & Beyond

-

-

0.0

0.0

0.0

 

Interim Balance Sheet

Standardized

 

Financials in: USD (mil) 

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

 

 

 

31-Mar-2012

31-Dec-2011

30-Sep-2011

30-Jun-2011

31-Mar-2011

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Normal 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Updated Normal 
31-Mar-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1138.093549

1152

1178.05

1067.65

1096.95

 

 

 

 

 

 

    Cash & Equivalents

6.5

7.6

2.3

6.3

5.3

    Short Term Investments

0.5

3.0

0.4

0.2

0.2

Cash and Short Term Investments

6.9

10.6

2.7

6.5

5.6

        Accounts Receivable - Trade, Gross

8.7

7.4

8.9

-

-

        Provision for Doubtful Accounts

-0.1

-0.1

0.0

-

-

    Trade Accounts Receivable - Net

8.6

7.3

8.9

7.8

6.5

    Other Receivables

0.4

0.5

0.4

0.4

0.8

Total Receivables, Net

9.0

7.8

9.4

8.3

7.3

    Inventories - Finished Goods

1.4

1.8

1.5

1.1

1.0

    Inventories - Raw Materials

4.6

4.8

3.7

3.7

3.4

    Inventories - Other

0.8

1.1

2.0

0.9

0.8

Total Inventory

6.8

7.7

7.1

5.7

5.2

Prepaid Expenses

0.8

0.8

0.6

0.5

0.5

    Other Current Assets

0.0

0.0

-

0.4

0.3

Other Current Assets, Total

0.0

0.0

-

0.4

0.3

Total Current Assets

23.5

27.0

19.8

21.4

18.8

 

 

 

 

 

 

        Buildings

8.3

8.2

8.0

8.8

8.6

        Land/Improvements

6.5

6.4

6.3

6.9

6.7

        Machinery/Equipment

10.7

10.7

9.4

9.8

9.3

        Construction in Progress

1.3

1.0

0.1

0.1

0.2

        Other Property/Plant/Equipment

0.0

0.0

0.0

0.0

0.0

    Property/Plant/Equipment - Gross

26.9

26.3

23.8

25.7

24.9

    Accumulated Depreciation

-7.0

-7.1

-6.0

-6.2

-5.7

Property/Plant/Equipment - Net

19.8

19.2

17.7

19.5

19.2

Intangibles, Net

12.7

11.6

11.4

11.8

11.0

    LT Investment - Affiliate Companies

3.5

0.3

3.4

3.7

3.6

    LT Investments - Other

0.4

0.2

0.5

0.3

0.5

Long Term Investments

3.9

0.5

3.9

4.0

4.2

    Deferred Income Tax - Long Term Asset

0.5

0.5

0.1

-

0.0

    Other Long Term Assets

0.3

0.3

-

0.2

0.1

Other Long Term Assets, Total

0.8

0.8

0.1

0.2

0.2

Total Assets

60.7

59.1

52.8

56.9

53.3

 

 

 

 

 

 

Accounts Payable

3.3

1.5

3.4

3.0

3.2

Accrued Expenses

0.0

0.0

0.0

0.1

0.1

Notes Payable/Short Term Debt

3.5

3.5

2.5

2.8

2.7

Current Portion - Long Term Debt/Capital Leases

4.3

5.1

0.1

2.3

2.2

    Dividends Payable

1.3

-

-

-

0.9

    Customer Advances

0.2

0.6

0.2

0.5

0.3

    Security Deposits

0.1

0.1

0.0

0.0

0.0

    Income Taxes Payable

0.5

0.5

0.4

0.4

-

    Other Payables

0.6

0.4

0.5

0.4

0.5

    Other Current Liabilities

0.6

1.2

1.4

0.1

0.1

Other Current liabilities, Total

3.3

2.8

2.5

1.3

1.7

Total Current Liabilities

14.5

12.9

8.6

9.5

10.0

 

 

 

 

 

 

    Long Term Debt

-

-

4.9

6.5

6.3

Total Long Term Debt

0.0

0.0

4.9

6.5

6.3

Total Debt

7.8

8.6

7.6

11.6

11.3

 

 

 

 

 

 

Minority Interest

-

2.5

-

-

-

    Reserves

1.0

1.0

0.6

0.7

0.6

    Pension Benefits - Underfunded

0.2

0.1

0.4

0.3

0.1

    Other Long Term Liabilities

0.1

0.3

0.8

-

-

Other Liabilities, Total

1.2

1.4

1.8

1.0

0.8

Total Liabilities

15.7

16.8

15.3

17.0

17.1

 

 

 

 

 

 

    Common Stock

4.6

4.4

4.3

4.6

4.4

Common Stock

4.6

4.4

4.3

4.6

4.4

Additional Paid-In Capital

7.1

4.4

4.0

3.5

3.2

Retained Earnings (Accumulated Deficit)

34.4

34.9

30.6

33.4

30.0

Treasury Stock - Common

-

-0.5

-0.5

-0.5

-0.5

Unrealized Gain (Loss)

-1.1

-1.2

-0.9

-1.0

-0.9

    Translation Adjustment

-

0.3

-

-

-

    Other Equity

0.0

0.0

0.0

0.0

0.0

Other Equity, Total

0.0

0.3

0.0

0.0

0.0

Total Equity

45.0

42.3

37.5

39.9

36.2

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

60.7

59.1

52.8

56.9

53.3

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

10.4

9.9

9.8

9.5

9.3

Total Common Shares Outstanding

10.4

9.9

9.8

9.5

9.3

Treasury Shares - Common Stock Primary Issue

0.0

0.3

0.3

0.3

0.3

Employees

150

140

140

133

128

Deferred Revenue - Current

0.2

0.6

0.2

0.5

0.3

Total Long Term Debt, Supplemental

4.3

-

0.1

2.3

-

Long Term Debt Maturing within 1 Year

4.3

-

0.1

2.3

-

Long Term Debt Matur. in Year 6 & Beyond

0.0

-

0.0

0.0

-

 

 

Annual Cash Flows

Standardized

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income/Starting Line

8.5

6.5

5.3

3.7

2.7

    Depreciation

1.7

1.5

1.1

1.1

0.8

Depreciation/Depletion

1.7

1.5

1.1

1.1

0.8

    Amortization of Intangibles

1.8

1.5

1.2

1.3

0.9

Amortization

1.8

1.5

1.2

1.3

0.9

Deferred Taxes

-

-

0.0

-0.1

-0.1

    Unusual Items

1.2

0.2

0.0

0.5

-0.1

    Equity in Net Earnings (Loss)

0.0

0.1

-0.2

0.1

0.2

    Other Non-Cash Items

2.8

2.1

1.0

0.7

0.7

Non-Cash Items

4.0

2.4

0.8

1.3

0.9

    Accounts Receivable

-0.6

-0.7

-1.0

-1.3

-0.2

    Inventories

-2.2

-1.6

0.3

-0.1

-1.1

    Prepaid Expenses

-

-

-0.2

0.0

-0.2

    Other Assets

-0.8

0.4

-

-

0.1

    Accounts Payable

-1.1

-0.5

0.5

-0.3

0.7

    Accrued Expenses

-

-

0.0

0.0

0.0

    Taxes Payable

-

-

-0.2

0.3

0.3

    Other Liabilities

0.2

-3.2

-0.2

-0.1

-0.1

    Other Assets & Liabilities, Net

-0.4

0.0

0.0

-0.1

-

    Other Operating Cash Flow

-0.1

-1.5

-

-

-

Changes in Working Capital

-4.9

-7.3

-0.8

-1.6

-0.6

Cash from Operating Activities

11.2

4.6

7.6

5.7

4.6

 

 

 

 

 

 

    Purchase of Fixed Assets

-2.3

-4.3

-5.1

-4.4

-1.7

    Purchase/Acquisition of Intangibles

-4.3

-3.5

-2.6

-2.3

-2.0

Capital Expenditures

-6.6

-7.8

-7.7

-6.7

-3.6

    Sale of Fixed Assets

0.0

0.0

0.0

0.0

0.0

    Sale/Maturity of Investment

0.2

1.2

3.3

0.5

3.2

    Purchase of Investments

-1.3

-2.3

-1.8

-1.4

-3.9

    Other Investing Cash Flow

0.2

-0.3

-0.2

-0.3

0.3

Other Investing Cash Flow Items, Total

-0.9

-1.4

1.4

-1.1

-0.4

Cash from Investing Activities

-7.6

-9.2

-6.3

-7.8

-4.0

 

 

 

 

 

 

    Other Financing Cash Flow

0.6

0.6

0.4

-

0.0

Financing Cash Flow Items

0.6

0.6

0.4

-

0.0

    Cash Dividends Paid - Common

-0.8

-0.9

-0.3

-0.4

-0.5

Total Cash Dividends Paid

-0.8

-0.9

-0.3

-0.4

-0.5

        Sale/Issuance of Common

-

-

1.5

-

-

        Repurchase/Retirement of Common

-

-

-

-0.4

-0.3

    Common Stock, Net

-

-

1.5

-0.4

-0.3

    Options Exercised

-

-

-

-

0.1

    Warrants Converted

1.0

-

-

-

-

Issuance (Retirement) of Stock, Net

1.0

-

1.5

-0.4

-0.2

        Short Term Debt Issued

1.8

4.7

3.8

2.4

2.4

        Short Term Debt Reduction

-2.6

-3.5

-4.5

-1.7

-1.5

    Short Term Debt, Net

-0.8

1.2

-0.7

0.7

0.9

        Long Term Debt Issued

-

7.1

0.9

2.1

1.1

        Long Term Debt Reduction

-3.6

-3.0

-1.9

-0.4

-1.3

    Long Term Debt, Net

-3.6

4.0

-1.0

1.7

-0.2

Issuance (Retirement) of Debt, Net

-4.4

5.2

-1.7

2.4

0.8

Cash from Financing Activities

-3.6

4.9

-0.1

1.6

0.1

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

-0.1

-

-

-

Net Change in Cash

-0.1

0.2

1.2

-0.5

0.6

 

 

 

 

 

 

Net Cash - Beginning Balance

8.0

7.5

2.2

3.0

2.9

Net Cash - Ending Balance

7.9

7.7

3.3

2.5

3.5

Cash Interest Paid

0.6

0.5

-

-

-

Cash Taxes Paid

-0.3

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

Updated Normal 
31-Mar-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1107.891393

1095.603455

1101.856011

1120.28956

 

 

 

 

 

 

Net Income/Starting Line

2.0

8.5

4.6

4.2

1.7

    Depreciation

0.4

1.7

1.2

0.8

0.4

Depreciation/Depletion

0.4

1.7

1.2

0.8

0.4

    Amortization of Intangibles

0.4

1.8

1.3

0.9

0.4

Amortization

0.4

1.8

1.3

0.9

0.4

Deferred Taxes

-

-

-

0.1

-

    Unusual Items

0.0

1.6

1.6

0.0

0.0

    Equity in Net Earnings (Loss)

-

0.0

-

-

-

    Other Non-Cash Items

0.1

2.4

1.7

1.0

0.5

Non-Cash Items

0.1

4.0

3.3

1.0

0.4

    Accounts Receivable

-0.9

-0.6

-2.2

-0.9

0.5

    Inventories

-1.4

-2.2

-2.0

-1.1

-0.9

    Other Assets

0.0

-0.8

-1.6

-0.3

-0.1

    Accounts Payable

1.0

-1.1

1.1

0.2

0.6

    Other Liabilities

-0.3

-0.2

0.0

0.1

0.1

    Other Operating Cash Flow

-0.3

-0.1

0.1

0.6

-0.1

Changes in Working Capital

-1.9

-4.9

-4.5

-1.4

0.1

Cash from Operating Activities

1.0

11.2

6.0

5.5

2.9

 

 

 

 

 

 

    Purchase of Fixed Assets

-1.2

-2.3

-1.1

-0.6

-0.4

    Purchase/Acquisition of Intangibles

-1.4

-4.3

-3.2

-1.9

-0.9

Capital Expenditures

-2.6

-6.6

-4.3

-2.5

-1.3

    Sale of Fixed Assets

-

0.0

-

-

-

    Sale/Maturity of Investment

0.0

0.2

0.1

0.1

0.1

    Purchase of Investments

-0.1

-1.3

-0.2

0.0

0.0

    Other Investing Cash Flow

-

0.2

0.2

0.2

0.0

Other Investing Cash Flow Items, Total

-0.1

-0.9

0.2

0.3

0.1

Cash from Investing Activities

-2.7

-7.6

-4.1

-2.2

-1.2

 

 

 

 

 

 

    Other Financing Cash Flow

-

0.6

0.3

-

-

Financing Cash Flow Items

-

0.6

0.3

-

-

    Cash Dividends Paid - Common

-

-0.8

-0.9

-0.8

-

Total Cash Dividends Paid

-

-0.8

-0.9

-0.8

-

        Sale/Issuance of Common

2.5

-

-

-

-

    Common Stock, Net

2.5

-

-

-

-

    Options Exercised

-

-

-

0.3

-

    Warrants Converted

0.8

1.0

1.0

-

-

Issuance (Retirement) of Stock, Net

3.3

1.0

1.0

0.3

-

        Short Term Debt Issued

-

1.8

0.9

-

-

        Short Term Debt Reduction

-

-2.6

-2.6

-1.7

-1.7

    Short Term Debt, Net

-

-0.8

-1.7

-1.7

-1.7

        Long Term Debt Reduction

-0.9

-3.6

-3.6

-0.4

-0.4

    Long Term Debt, Net

-0.9

-3.6

-3.6

-0.4

-0.4

Issuance (Retirement) of Debt, Net

-0.9

-4.4

-5.3

-2.1

-2.1

Cash from Financing Activities

2.4

-3.6

-4.9

-2.7

-2.1

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

-0.1

-0.1

-0.2

-

Net Change in Cash

0.6

-0.1

-3.2

0.4

-0.3

 

 

 

 

 

 

Net Cash - Beginning Balance

5.8

8.0

5.7

5.6

5.5

Net Cash - Ending Balance

6.5

7.9

2.5

6.1

5.2

Cash Interest Paid

0.1

0.6

0.5

0.1

0.2

Cash Taxes Paid

0.2

-0.3

-0.4

-0.4

0.0

 

 

Annual Income Statement

As Reported

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

Period Length

12 Months

12 Months

12 Months

12 Months

12 Months

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Merchandise Sales

6.6

3.9

3.9

1.2

0.1

    Finished Goods Revenues

44.8

35.6

26.3

26.9

25.5

    Rental Revenue

0.0

0.0

-

-

-

    Other Revenue

0.0

0.0

-

-

-

    Adjustment for Revenues

0.0

0.0

-

-

-

Total Revenue

51.5

39.6

30.3

28.1

25.6

 

 

 

 

 

 

    Cost-Merchandise Sold

7.9

4.4

3.4

1.1

0.1

    Cost of Finish. Good

20.3

17.0

14.1

14.9

15.3

    Cost of Other Goods Sold

0.0

0.0

-

-

-

    Adjustment for Cost of Revenue

0.0

0.0

-

-

-

    Salaries

2.3

1.8

1.3

1.5

1.5

    Retirement Allowance

0.3

0.2

0.3

0.2

0.2

    Employee Benefits

0.6

0.3

0.2

0.2

0.3

    Compensations Expenses Associated with S

0.0

0.0

0.0

-

-

    Rental Expenses

0.3

0.2

0.0

0.0

0.0

    Entertainment Expense

0.1

0.1

0.1

0.1

0.1

    Vehicles Expense

0.1

0.1

0.0

0.1

0.0

    Education & Training Expense

0.1

0.1

0.0

0.0

0.0

    Consumable Expense

0.1

0.1

0.0

0.0

0.1

    Depreciation Expense

0.2

0.2

0.1

0.1

0.1

    Amortization of Intangible Assets

1.8

1.5

1.2

1.3

0.9

    Taxes and Dues

0.2

0.1

0.1

0.1

0.1

    Insurance Expense

0.0

0.0

0.0

0.0

0.0

    Printing Expense

0.0

0.0

0.0

0.0

0.0

    Advertising Expense

0.7

0.6

0.4

0.5

0.4

    R & D Expense

2.6

1.9

1.1

1.1

1.2

    Repair Expense

0.0

0.0

0.0

0.0

0.0

    Amort. of Bad Debts

0.1

0.1

0.1

0.0

0.1

    Shipping & Handling Expense

0.9

0.7

0.4

0.3

0.3

    Travel Expense

0.5

0.3

0.2

0.2

0.3

    Communication Exp.

0.1

0.0

0.0

0.0

0.0

    Utility Expense

0.0

0.0

0.0

0.0

0.0

    Electricity Expenses

0.0

0.0

0.0

0.0

0.0

    Commissions Paid

0.5

0.5

0.3

0.3

0.4

    Expenses for Samples

0.0

0.0

0.0

0.0

0.1

    Sales Guarantee

1.3

0.8

0.8

0.6

0.6

    Other Selling and Administrative Expense

-

0.0

-

-

-

    Adjustment for Selling and Administrativ

-

0.0

-

-

-

Total Operating Expense

41.1

31.2

24.3

22.8

22.4

 

 

 

 

 

 

    Gain on Sale of Trading Securities

-

-

-

-

0.3

    Gain on Interest Swap Transactions

0.0

-

0.0

-

-

    Gains on Valuation of Interest Swap

-

-

0.0

-

-

    Interest Income

0.3

0.1

0.1

0.2

0.2

    Gain on Foreign Currency Transactions

0.8

0.5

1.1

1.3

0.1

    Gain on Foreign Currency Translations

0.1

0.0

0.0

0.0

0.0

    Gains on Currency Forward Transactions

0.5

0.1

-

-

0.0

    Gain-Currency Option Transaction

0.4

0.1

-

0.0

-

    Gain on Valuation of Currency Option

-

0.0

-

-

-

    Gains on Settlement of Futures Transacti

0.1

0.1

-

-

0.0

    Gain on Disposal of Financial Assets at

-

0.0

-

-

-

    Gain on Disposal of Investments in Affil

-

0.0

-

-

-

    Gains on Valuation of Trading Securities

-

-

0.0

-

0.0

    Recovery-Tariffs, Non-Operating

-

-

-

-

0.0

    Gain on Disposal of Property, Plant and

0.0

0.0

0.0

0.0

0.0

    Recovery-Loan Loss Reserve

-

-

-

0.0

-

    Other Non-Op. Income

0.0

0.0

0.0

0.1

0.1

    Adjustment for Other Non-Operating Incom

0.0

0.0

-

-

-

    Interest Expenses

-0.6

-0.5

-0.3

-0.5

-0.5

    Loss on Foreign Currency Transactions

-0.6

-0.6

-0.7

-0.3

-0.1

    Loss on Valuation of Currency Option

-0.9

-

-

-

-0.1

    Loss-Valuation of ST Marketable Sec.

0.0

0.0

-

-0.1

-0.1

    Loss-Currency Option Transaction

-0.1

0.0

-

-0.7

-

    Loss on Valuation of Interest Swap

-

0.0

-

-0.1

-

    Loss on Interest Swap Transactions

0.0

0.0

0.0

-

-

    Loss on Foreign Currency Translations

-0.2

-0.2

-0.4

-0.3

0.0

    Donations Paid

0.0

0.0

0.0

0.0

0.0

    Loss-Scrapping of inventory

-

-

0.0

0.0

0.0

    Loss-Reduction of Development Expenses

-

-

-

-0.3

-

    Impairment Loss on Intangible Assets

-0.7

-0.1

-

-

-

    Losses on Sale of Property, Plant and Eq

-

-

0.0

-

0.0

    L-Other Currency Futures Trade

-

-

-

-

0.0

    Losses on Currency Forward Transactions

0.0

-0.4

-

-

0.0

    Impairment Losses on Available for Sale

-

0.0

-

-

-

    Miscellaneous Loss

0.0

0.0

0.0

0.0

0.0

    Loss-Futures Transaction

-0.2

0.0

-

-

-

    Loss on Valuation of Currency Forward

-0.4

0.0

-

-

-

    Gain under Equity Method

0.0

-

0.6

-

-

    Loss under Equity Method

-

-0.1

-0.4

-0.1

-0.2

    Adjustment for Other Non-Operating Expen

-

0.0

-

-

-

    Adjustment for Finance Income

0.0

0.0

-

-

-

    Adjustment for Finance Expense

0.0

0.0

-

-

-

Net Income Before Taxes

8.9

7.3

5.9

4.3

2.9

 

 

 

 

 

 

Provision for Income Taxes

0.3

0.8

0.6

0.6

0.2

Net Income After Taxes

8.5

6.5

5.3

3.7

2.7

 

 

 

 

 

 

    Minority Interest

-0.6

-0.4

-

-

-

Net Income Before Extra. Items

7.9

6.1

5.3

3.7

2.7

Net Income

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Income Available to Com Excl E

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Income Available to Com Incl E

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Basic Weighted Average Shares

9.2

9.2

8.8

8.7

9.0

Basic EPS Excluding ExtraOrdin

0.86

0.66

0.61

0.42

0.30

Basic EPS Including ExtraOrdin

0.86

0.66

0.61

0.42

0.30

Dilution Adjustment

0.1

0.1

0.0

0.0

0.0

Diluted Net Income

8.0

6.2

5.3

3.7

2.7

Diluted Weighted Average Share

9.8

9.5

9.0

8.7

9.0

Diluted EPS Excluding ExtraOrd

0.82

0.65

0.59

0.42

0.30

Diluted EPS Including ExtraOrd

0.82

0.65

0.59

0.42

0.30

DPS-Common Stock

0.14

0.09

0.08

0.05

0.05

Gross Dividends - Common Stock

1.3

0.8

0.7

0.4

0.5

Normalized Income Before Taxes

8.9

7.3

5.9

4.3

2.9

 

 

 

 

 

 

Inc Tax Ex. Impact of Sp Items

0.3

0.8

0.6

0.6

0.2

Normalized Income After Taxes

8.5

6.5

5.3

3.7

2.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

7.9

6.1

5.3

3.7

2.7

 

 

 

 

 

 

Basic Normalized EPS

0.86

0.66

0.61

0.43

0.30

Diluted Normalized EPS

0.82

0.65

0.59

0.43

0.30

Rental Expense, Supplemental

0.3

0.2

0.0

0.0

0.0

Advertising Expense, Supplemental

0.7

0.6

0.4

0.5

0.4

Interest Expense, Supplemental

0.6

0.5

0.3

0.5

0.5

R&D Expense, Supplemental

2.6

1.9

1.1

1.1

1.2

Depreciation, Supplemental

1.7

1.5

1.1

1.1

0.8

Amort of Intangibles, Supplemental

1.8

1.5

1.2

1.3

0.9

 

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

12 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal 
31-Mar-2012

Updated Special 
31-Dec-2011

Updated Normal 
30-Sep-2011

Updated Normal 
30-Jun-2011

Reclassified Calculated 
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1107.891393

1082.999462

1083.436022

1120.28956

 

 

 

 

 

 

    Sales Revenue

12.3

51.5

13.3

13.4

10.6

Total Revenue

12.3

51.5

13.3

13.4

10.6

 

 

 

 

 

 

    Cost-Revenue

7.7

28.2

8.3

8.4

6.4

    Selling and Administrative Expenses

2.8

13.0

2.6

2.5

2.3

Total Operating Expense

10.6

41.1

10.9

10.9

8.7

 

 

 

 

 

 

    Gain under Equity Method

-

0.0

-

-

-

    Other Non-Operating Income

0.1

0.9

0.8

0.0

0.1

    Other Non-Operating Expenses

-0.2

-1.5

-0.2

-0.3

-0.3

    Finance Income

0.8

1.3

0.4

0.5

0.5

    Finance Expense

-0.1

-2.2

-3.0

-0.2

-0.2

Net Income Before Taxes

2.3

8.9

0.4

2.7

2.0

 

 

 

 

 

 

Provision for Income Taxes

0.3

0.3

0.0

0.2

0.3

Net Income After Taxes

2.0

8.5

0.4

2.5

1.7

 

 

 

 

 

 

    Minority Interest

-

-0.6

-

-

-

Net Income Before Extra. Items

2.0

7.9

0.4

2.5

1.7

Net Income

2.0

7.9

0.4

2.5

1.7

 

 

 

 

 

 

Income Available to Com Excl ExtraOrd

2.0

7.9

0.4

2.5

1.7

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

2.0

7.9

0.4

2.5

1.7

 

 

 

 

 

 

Basic Weighted Average Shares

10.2

9.2

9.2

9.0

9.3

Basic EPS Excluding ExtraOrdinary Items

0.19

0.86

0.04

0.28

0.18

Basic EPS Including ExtraOrdinary Items

0.19

0.86

0.04

0.28

0.18

Dilution Adjustment

0.0

0.1

0.0

0.1

0.0

Diluted Net Income

2.0

8.0

0.4

2.6

1.7

Diluted Weighted Average Shares

11.2

9.8

9.2

9.8

10.0

Diluted EPS Excluding ExtraOrd Items

0.18

0.82

0.04

0.27

0.17

Diluted EPS Including ExtraOrd Items

0.18

0.82

0.04

0.27

0.17

DPS-Common Stock

0.00

0.14

0.00

0.00

0.00

Gross Dividends - Common Stock

0.0

1.3

0.0

0.0

0.0

Normalized Income Before Taxes

2.3

8.9

0.4

2.7

2.0

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

0.3

0.3

0.0

0.2

0.3

Normalized Income After Taxes

2.0

8.5

0.4

2.5

1.7

 

 

 

 

 

 

Normalized Inc. Avail to Com.

2.0

7.9

0.4

2.5

1.7

 

 

 

 

 

 

Basic Normalized EPS

0.19

0.86

0.04

0.28

0.18

Diluted Normalized EPS

0.18

0.82

0.04

0.27

0.17

Interest Expense, Supplemental

0.1

0.6

0.1

0.2

0.2

Rental Expense, Supplemental

0.0

0.3

0.0

0.0

0.0

R&D Expense, Supplemental

0.6

2.6

0.5

0.5

0.4

Advertising Expense, Supplemental

0.2

0.7

0.1

0.1

0.2

Depreciation, Supplemental

0.4

1.7

0.4

0.4

0.4

Amort of Intangibles, Supplemental

0.4

1.8

0.5

0.5

0.4

 

 

Annual Balance Sheet

As Reported

 

Financials in: USD (mil) 

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

 

 

 

31-Dec-2011

31-Dec-2010

31-Dec-2009

31-Dec-2008

31-Dec-2007

UpdateType/Date

Updated Normal 
31-Dec-2011

Restated Normal 
31-Dec-2011

Updated Normal 
31-Dec-2009

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1152

1134.9

1164.475

1259.55

936.05

Auditor

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

    Cash & Cash Equivalents

7.6

7.9

3.7

2.2

3.5

    ST Finl Assets

-

-

0.3

0.6

0.1

    ST Trade Securities

0.0

0.0

0.1

0.1

0.2

    Deposits by Savings

2.5

1.5

-

-

-

    Held-to-Maturity Securities Current

-

0.1

-

-

-

    Adjustments for Other Financial Instrume

-

-

-

-

-

    Trade Receivable, Gross

7.4

6.2

5.4

3.8

4.0

    Allw-Doubtful Ac

-0.1

0.0

-0.2

-0.1

-0.2

    Account Receivables

0.1

0.0

0.0

0.0

0.0

    ST Loans

0.4

0.6

0.3

0.0

0.0

    Accrued Income

0.0

0.0

0.0

0.3

0.2

    Adjustment for Trade & Other Receivables

0.0

-

-

-

-

    Advance Payments

1.1

0.7

0.4

0.2

0.5

    Allowance for Doubtful Accounts for Adva

-

-

0.0

-

-

    Prepaid Expenses

0.0

0.0

0.0

0.0

0.0

    Receivable of Corporate Tax Refund

-

0.4

-

-

-

    Prepaid Value Added Taxes

0.8

0.5

0.5

0.3

0.4

    Derivative Assets Current

-

0.0

-

-

-

    Other Financial Instruments

0.4

0.2

0.0

0.0

0.0

    Adjustment for Other Current Assets

0.0

0.0

-

-

-

    Current Dfrd Taxes

-

-

0.2

0.1

0.1

    Finished Goods

1.8

1.6

0.9

0.9

1.2

    Work in Progress

-

-

-

0.1

0.2

    Raw Materials

4.8

2.9

1.4

1.5

1.7

    Goods in Transit

0.0

-

-

0.0

-

    Adjustment for Inventories

-

0.1

-

-

-

Total Current Assets

27.0

22.7

12.9

10.0

12.0

 

 

 

 

 

 

    Long-term Financial Instruments

-

-

-

-

0.4

    Secs avail. for Sale

0.2

0.6

0.6

2.4

3.2

    Non-Current Deposits by Savings

0.1

0.0

-

-

-

    Investment in Affiliates

0.3

0.2

-

-

-

    Equity Method Investment Securities

-

-

3.4

3.2

2.4

    Securities held till Maturity

-

-

0.1

0.1

0.1

    Guarantee Deposits, Non-Current Assets

0.2

0.1

0.9

0.7

1.0

    Adjustment for Non-Current Financial Ins

0.0

0.0

-

-

-

    LA Deferred Tax

0.5

0.0

0.4

0.2

0.5

    LT Loan

-

-

-

0.2

-

    Lands

6.4

6.5

6.4

3.6

1.3

    Building

8.1

8.2

4.4

4.0

5.4

    Buildings-Depreciation

-1.0

-0.8

-0.7

-0.5

-0.5

    Structure

0.1

0.1

0.1

0.1

0.1

    Structures-Depreciation

0.0

0.0

0.0

0.0

0.0

    Machineries & Equipments

1.8

1.4

0.6

0.2

0.3

    Machineries & Equipments-Depreciation

-0.4

-0.3

-0.2

-0.2

-0.3

    Moldings

6.7

6.2

4.6

3.6

3.3

    Deprec-Moldings

-4.3

-3.4

-3.0

-2.1

-2.2

    Tools & Equipments

1.2

1.1

0.6

0.5

0.6

    Depr-Tool/Equip

-0.8

-0.6

-0.5

-0.4

-0.4

    Vehicles

0.2

0.2

0.1

0.1

0.2

    Vehicles-Depreciation

-0.1

-0.1

-0.1

-0.1

-0.1

    Fixtures

0.8

0.7

0.3

0.3

0.3

    Fixtures-Depreciation

-0.4

-0.3

-0.2

-0.2

-0.3

    Construc in Prog

1.0

0.1

2.0

0.3

0.7

    Adjustment for Property, Plant & Equipme

0.0

0.0

-

-

-

    Industrial Patnt

0.1

0.1

0.1

0.1

0.1

    Development Costs

10.6

9.3

7.2

5.2

6.2

    Membership Rights

0.5

0.5

-

-

-

    Government Subsidy, Total

0.0

-0.1

-0.2

-

-

    Other Intangible

0.4

0.3

0.3

0.0

0.1

    Adjustment for Intangible Assets

0.0

0.0

-

-

-

Total Assets

59.1

52.7

40.0

31.4

34.5

 

 

 

 

 

 

    Current Trade Payables

1.5

1.7

1.6

1.1

1.7

    Accounts Payable

0.4

0.5

0.4

0.2

0.4

    Adjustment for Current Trade & Other Pay

0.0

0.0

-

-

-

    ST Borrowings

3.5

4.3

3.0

3.5

3.9

    Bonds With Stock Warrants, Current Liabi

5.1

-

-

-

-

    Currency Options

-

-

-

-

0.1

    Current LT Liab.

0.1

2.5

1.3

0.3

0.4

    Interest Rate Swap, Current

1.0

0.1

0.0

0.0

-

    Accrued Expenses

0.0

0.1

0.0

0.0

0.0

    Unearned Income

0.0

0.0

0.0

-

-

    Advance from Customers, Current Liabilit

0.6

0.2

0.0

0.2

0.2

    Deposit Withheld

0.2

0.1

0.3

0.2

0.3

    Bonds, Current Liabilities

-

-

-

1.6

-

    Income Taxes Payables

0.5

0.1

0.5

0.4

0.3

    Leasehold Deposits Received

0.1

0.0

-

-

-

    Adjustment for Other Current Liabilities

0.0

0.0

-

-

-

Total Current Liability

12.9

9.6

7.1

7.6

7.3

 

 

 

 

 

 

    LT Borrowings

-

0.1

3.2

3.2

2.3

    Bonds

-

-

-

-

2.1

    Bonds With Stock Warrants, Non-Current L

-

6.1

-

-

-

Total Long Term Debt

-

6.2

3.2

3.2

4.4

 

 

 

 

 

 

    Rsv-Sales Gurant

1.0

0.6

0.6

0.3

0.4

    Retirement & Severance Benefits, Non-Cur

0.1

0.0

-

-

-

    Retirement Resrv

-

-

2.3

1.6

1.9

    Non-Current Derivatives Liabilities

0.3

-

0.0

0.1

-

    Minority Interests

2.5

1.8

-

-

-

Total Liabilities

16.8

18.1

13.2

12.8

14.0

 

 

 

 

 

 

    Common Stock

4.4

4.2

4.0

3.6

4.9

    Additional Paid in Capital

3.4

1.9

1.2

0.6

0.8

    Legal Reserve

-

-

0.2

0.1

0.1

    Capital Change, Equity Method

0.0

0.0

0.7

0.8

0.1

    Loss on Valuation of Securities Availabl

-0.8

-0.5

-0.5

-

-

    Actuarial Losses

-0.4

-0.3

-

-

-

    Ret Earn Carried

-

-

20.5

14.0

15.0

    Retained Earnings or Accumulated Deficit

34.9

28.5

-

-

-

    Treasury Stock

-0.5

-0.5

-0.5

-1.1

-1.0

    Stock Options

0.2

0.3

0.5

0.6

0.7

    Loss on Disposal of Treasury Stocks

-

-

-

0.0

0.0

    Consideration for Stock Warrants

0.1

0.1

-

-

-

    Gains on Disposal of Treasury Stock

0.7

0.7

0.7

-

-

    Adjustment for Capital Surplus

0.0

0.0

-

-

-

    Adjustment for Capital Adjustment

0.0

0.0

-

-

-

    Overseas Business Translation Credit/Deb

0.3

0.0

-

-

-

    Adjustment for Accumulated Other Compreh

0.0

0.0

-

-

-

Total Equity

42.3

34.5

26.8

18.5

20.5

 

 

 

 

 

 

Total Liabilities & Shareholde

59.1

52.7

40.0

31.4

34.5

 

 

 

 

 

 

    S/O-Common Stock

9.9

9.3

9.1

8.4

8.8

Total Common Shares Outstandin

9.9

9.3

9.1

8.4

8.8

T/S-Common Stock

0.3

0.3

0.3

0.7

0.3

Deferred Revenue, Current

0.6

0.2

0.0

0.2

0.2

Full-Time Employees

140

115

124

109

103

Number of Common Shareholders

-

2,751

3,389

1,686

1,747

LT Debt 1 yr

-

-

2.4

0.3

0.4

LT Debt 2 yrs

-

-

0.8

1.1

0.4

LT Debt 3 yrs

-

-

-

2.1

1.5

LT Debt 4 yrs

-

-

-

-

0.4

Total Long Term Debt, Supplemental

-

-

3.2

3.5

2.7

Operating Lease Maturing in Year 1

-

-

0.0

0.0

0.1

Operating Lease Maturing in Year 2

-

-

0.0

0.0

0.0

Operating Lease Maturing in Year 3

-

-

0.0

-

0.0

Total Operating Leases

-

-

0.1

0.0

0.1

 

 

 

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 & Cash Equivalents

6.5

7.6

2.3

6.3

5.3

    Financial Assets at Fair Value Through P

0.0

-

0.0

-

-

    Trading Securities

-

0.0

-

0.0

0.0

    Deposits by Savings

-

2.5

-

-

-

    Other Financial Instruments

-

-

0.3

0.2

0.2

    Guarantee Deposit for Futures Trade

0.4

0.4

-

-

-

    Adjustments for Other Financial Instrume

-

-

-

-

-

    Trade Receivable.Net

-

-

-

7.8

6.5

    Trade Receivable, Gross

8.7

7.4

8.9

-

-

    Reserve-Doubtful Account

-0.1

-0.1

0.0

-

-

    Account Receivables

0.0

0.1

0.0

0.0

0.1

    Short-term Loans

0.4

0.4

0.4

0.4

0.6

    Adjustment for Trade & Other Receivables

0.0

0.0

0.0

0.0

0.0

    Accrued Income

0.0

0.0

0.0

0.0

0.0

    Advance Payments

0.8

1.1

2.0

0.9

0.7

    Prepaid Expenses

0.0

0.0

0.0

0.0

0.0

    Adjustment for Other Current Assets

0.0

0.0

-

-

-

    Receivable-Recovery of Taxes

0.0

-

0.0

-

0.1

    Prepaid Value Added Taxes

0.8

0.8

0.6

0.5

0.5

    Derivative Assets Current

-

-

-

0.4

0.3

    Finished Goods

1.4

1.8

1.5

1.1

1.0

    Raw Materials

4.6

4.8

3.7

3.7

3.4

    Goods in Transit

0.0

0.0

-

-

0.1

    Adjustment for Inventories

0.0

-

0.0

0.0

0.0

Total Current Assets

23.5

27.0

19.8

21.4

18.8

 

 

 

 

 

 

    Non-Current Time Deposit Withdraw

0.1

-

-

-

-

    Securities Available for Sale

0.3

0.2

0.3

0.3

0.5

    Investment in Subsidiaries

3.2

-

3.1

3.4

3.3

    Investment in Affiliates

0.3

0.3

0.3

0.3

0.3

    Land

6.5

6.4

6.3

6.9

6.7

    Buildings

8.2

8.1

7.9

8.7

8.5

    Buildings-Depreciation

-1.1

-1.0

-1.0

-1.0

-0.9

    Structures

0.1

0.1

0.1

0.1

0.1

    Structures-Depreciation

0.0

0.0

0.0

0.0

0.0

    Machinery & Equipment

2.0

1.8

1.7

1.9

1.7

    Machinery & Equipment-Depreciation

-0.5

-0.4

-0.4

-0.4

-0.3

    Moldings

6.7

6.7

6.0

6.1

5.9

    Moldings-Depreciation

-4.3

-4.3

-3.7

-3.8

-3.5

    Tools & Equipments

1.2

1.2

1.0

1.0

1.0

    Tools & Equipments-Depreciation

-0.7

-0.8

-0.6

-0.6

-0.6

    Vehicles

0.1

0.2

0.1

0.1

0.1

    Vehicles-Depreciation

-0.1

-0.1

-0.1

-0.1

-0.1

    Fixtures

0.7

0.8

0.6

0.7

0.7

    Fixtures-Depreciation

-0.4

-0.4

-0.3

-0.3

-0.2

    Construction in Progress

1.3

1.0

0.1

0.1

0.2

    Adjustment for Property, Plant & Equipme

0.0

0.0

0.0

0.0

0.0

    Industrial Property Right

0.1

0.1

0.1

0.1

0.1

    Development Costs

11.6

10.6

10.4

10.7

10.0

    Government Subsidy for Development Costs

0.0

0.0

-0.1

-0.1

-0.1

    Other Intangible Assets

0.5

0.4

0.4

0.4

0.4

    Membership Right, Long-term Assets

0.5

0.5

0.5

0.7

0.6

    Adjustment for Intangible Assets

0.0

0.0

0.0

0.0

0.0

    LT Deposits by Savings

-

0.1

-

0.1

0.0

    Guarantee Deposits, Non-Current Assets

0.3

0.2

-

0.1

0.1

    Adjustment for Non-Current Financial Ins

-

0.0

-

0.0

0.0

    Others Non-current Assets

-

-

-

0.1

-

    Deferred Income Taxes Assets Non-current

0.5

0.5

0.1

-

0.0

    Other Non-Current Financial Instruments

-

-

0.2

-

-

    Adjustment for Other Non-Current Financi

0.0

-

-

-

-

Total Assets

60.7

59.1

52.8

56.9

53.3

 

 

 

 

 

 

    Trade Payables

3.3

1.5

3.4

3.0

3.2

    Account Payable

0.6

0.4

0.5

0.4

0.5

    ST Borrowings

3.5

3.5

2.5

2.8

2.7

    Current Portion of LT Debt

0.0

0.1

0.1

2.3

2.2

    Bonds With Stock Warrants, Current Liabi

4.3

5.1

-

-

-

    Current Derivatives Liabilities

0.5

1.0

1.3

0.0

-

    Interest Rate Swap, Current

-

-

-

-

0.0

    Accrued Expense

0.0

0.0

0.0

0.1

0.1

    Unearned Income

0.0

0.0

0.0

0.0

0.0

    Advance from Customers

0.2

0.6

0.2

0.4

0.3

    Deposit Withheld

0.1

0.2

0.1

0.0

0.1

    Adjustment for Other Current Liabilities

0.0

0.0

0.0

0.0

0.0

    Income Taxes Payables

0.5

0.5

0.4

0.4

-

    Dividend Payables

1.3

-

-

-

0.9

    Leasehold Deposits Received

0.1

0.1

0.0

0.0

0.0

    Adjustment for Trade & Other Payables

0.0

0.0

0.0

-

0.0

Total Current Liabilities

14.5

12.9

8.6

9.5

10.0

 

 

 

 

 

 

    LT Borrowings

-

-

-

-

0.0

    Bonds With Stock Warrants

-

-

4.9

6.5

6.3

Total Long Term Debt

-

-

4.9

6.5

6.3

 

 

 

 

 

 

    Non-Current Derivatives Liabilities

0.1

0.3

0.8

-

-

    Reserve-Sales Guarantee

1.0

1.0

0.6

0.7

0.6

    Reserve-Severance and Retirement Benefit

0.2

0.1

0.4

0.3

0.1

    Minority Interests

-

2.5

-

-

-

Total Liabilities

15.7

16.8

15.3

17.0

17.1

 

 

 

 

 

 

    Common Stock

4.6

4.4

4.3

4.6

4.4

    Gain-Disposal of Treasury Stock

2.7

0.7

0.7

-

-

    Paid-in Capital in Excess of Par

4.2

3.4

3.0

2.4

2.0

    Stock Options

0.2

0.2

0.3

0.3

0.4

    Adj-Capital Adjustments

-

0.0

0.0

0.0

0.0

    Loss on Insurance Repair

-0.4

-0.4

-0.2

-0.2

-0.3

    Other Capital Surplus

-

-

-

0.7

0.7

    Adjustment for Accumulated Other Compreh

0.0

0.0

0.0

0.0

0.0

    Consideration for Stock Warrants in Capi

0.1

0.1

0.1

0.1

0.1

    Adjustment for Capital Surplus

0.0

0.0

0.0

0.0

0.0

    Capital Change, Equity Method

-

0.0

-

-

-

    Retained Earnings or Accumulated Deficit

34.4

34.9

-

-

-

    Appropriated Retained Earnings for Legal

-

-

0.3

0.4

0.4

    Retained Earning Carried Forward

-

-

30.3

33.0

29.7

    Adjustment for Retained Earnings

-

-

-

-

0.0

    Loss-Valu. of Sec. Available for Sale

-0.7

-0.8

-0.7

-0.8

-0.6

    Treasury Stock

-

-0.5

-0.5

-0.5

-0.5

    Overseas Business Translation Credit/Deb

-

0.3

-

-

-

Total Equity

45.0

42.3

37.5

39.9

36.2

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

60.7

59.1

52.8

56.9

53.3

 

 

 

 

 

 

    S/O-Common Stock

10.4

9.9

9.8

9.5

9.3

Total Common Shares Outstanding

10.4

9.9

9.8

9.5

9.3

T/S-Common Stock

0.0

0.3

0.3

0.3

0.3

Deferred Revenue, Current

0.2

0.6

0.2

0.5

0.3

Full-Time Employees

150

140

140

133

128

Long Term Debt Maturing within 1 Year

4.3

-

0.1

2.3

-

Total Long Term Debt, Supplemental

4.3

-

0.1

2.3

-

 

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

Updated Normal 
31-Dec-2008

Updated Normal 
31-Dec-2007

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1107.891393

1156.281981

1276.385219

1100.562842

929.183333

Auditor

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Echon Accounting Corp.

Auditor Opinion

Unqualified

Unqualified

Unqualified

Unqualified

Unqualified

 

 

 

 

 

 

Net Income

8.5

6.5

5.3

3.7

2.7

    Depreciation

1.7

1.5

1.1

1.1

0.8

    Amort.-Intangible

1.8

1.5

1.2

1.3

0.9

    Stock Compensation

0.1

0.1

0.1

0.0

-

    Payment for Retirement Allowance, ONCI

0.6

0.6

0.6

0.4

0.6

    Expense of Allowance for Doubtful Accoun

0.1

0.1

0.1

0.0

0.1

    Sales Guarantee Expense

0.4

-

0.2

-

0.0

    Amortization of Stock Warrants Adjustmen

0.1

0.0

-

-

-

    Interest Expenses

0.5

0.5

-

-

-

    Corporate Taxes Expense

0.3

0.8

-

-

-

    Loss under Equity Method

-

0.1

0.4

0.1

0.2

    Losses on Sale of Property, Plant and Eq

-

-

0.0

-

0.0

    Loss-ST Marketable Securities Valuation

0.0

0.0

-

0.1

0.1

    Impairment Loss on Intangible Assets

0.1

0.1

-

-

-

    Impairment Losses on Available for Sale

-

0.0

-

-

-

    Loss on Valuation of Currency Options

0.9

-

-

-

-

    Loss-Valuation of Currency Futures

0.4

0.0

-

-

0.1

    Loss-Scraping of Inventory

-

-

0.0

0.0

0.0

    Loss-Valuation of Interest Rate Swaps

-

0.0

-

0.1

-

    L-For Exch Translatn

0.2

0.2

0.0

0.2

0.0

    Impairment Loss on Development Cost

0.6

-

-

0.3

-

    Interest Income

-0.3

-0.1

-

-

-

    G-For Exch Translatn

-0.1

0.0

0.0

0.0

0.0

    Recovery-Provision Doubtful Account

-

-

-

0.0

-

    Gain-ST Marketable Securities Disposal

-

0.0

-

-

-0.3

    Gain on Disposal of Property, Plant and

0.0

0.0

0.0

0.0

0.0

    Gain-Valuation of Interest Rate Swap

-

-

0.0

-

-

    Gain under Equity Method

0.0

-

-0.6

-

-

    Gains on Valuation of Trading Securities

-

-

0.0

-

0.0

    Gain on Disposal of Investment in Affili

-

0.0

-

-

-

    Income-Valuation of Currency Options

-

0.0

-

-

-

    Trade Receivables

-0.2

-0.7

-1.2

-1.2

-0.1

    Other Receivables

-0.4

0.0

0.0

0.0

0.0

    Advance Payments

-

-

-0.2

0.2

-0.5

    Prepaid Expenses

-

-

0.0

0.0

0.0

    Deposit-Futures Tr

-0.3

-0.1

0.0

0.0

0.1

    Ppd Valu Added Taxes

-

-

-0.2

0.0

-0.2

    Corporate Tax Refundable

-

-

-

-

0.0

    Accrued Income

-

-

0.3

-0.2

-0.1

    Inventory

-2.2

-1.6

0.5

-0.3

-0.7

    Current Deferred Taxes-Asset

-

-

0.0

-0.1

0.0

    Deferred Taxes-Asset

-

-

0.0

0.0

-0.1

    Other Current Assets

-0.5

-0.2

-

-

-

    Decrease in Other Non-Current Assets

-0.3

0.6

-

-

-

    Trade Payables

-1.3

-0.1

0.3

-0.2

0.5

    Other Payables

0.2

-0.4

0.1

-0.1

0.1

    Advances Received

-

-

-0.1

0.1

0.2

    Deposits Withheld

-

-

0.1

0.0

0.0

    Current Derivatives Assets

0.0

-

-

-

0.1

    Accrued Expenses

-

-

0.0

0.0

0.0

    Accrued Inc Tax

-

-

-0.2

0.3

0.3

    Currency Options

-

-

-

-0.1

-

    Interest Rate Swap

-0.4

0.0

0.0

-

-

    Non-Current Derivatives Liabilities

0.3

-

-

-

-

    Increase or Decrease in Unearned Income

-

-

0.0

-

-

    Retiremt Allow Paymt

-0.1

-0.4

-0.1

-0.2

-0.3

    Retirement Pension Operating Fund

-0.6

-2.6

-

-

-

    Overseas Business Translation Credit

0.3

0.0

-

-

-

    Other Current Liabilities

0.5

0.0

-

-

-

    Cash-Interest Received

0.2

0.1

-

-

-

    Cash-Interest Paid

-0.6

-0.5

-

-

-

    Cash-Tax Refunded

0.3

-1.2

-

-

-

Cash From Operating Activities

11.2

4.6

7.6

5.7

4.6

 

 

 

 

 

 

    Dec-ST Finl Asset

-

1.0

2.1

0.5

0.7

    Decrease in Long-term Loans

-

-

0.2

-

-

    Dec-Guarantee Dep.

-

-

0.1

0.1

0.5

    Decrease in Other Receivables

0.2

0.5

-

-

-

    Dec-Employ ST Ln

-

-

0.1

0.0

0.0

    Proceeds from Sale of Available for sale

-

-

1.2

-

-

    Proceeds from Sale of Equity Method Secu

-

0.0

-

-

-

    Disposal-Supplies

-

-

-

-

0.0

    Disposal-Transportation

-

-

-

-

0.0

    Disposal-Moldings

-

-

0.0

0.0

-

    Disposal of Financial Assets Held to Mat

0.1

-

-

-

0.1

    Decr-ST Trade Securities

-

-

-

-

2.4

    Proceeds from Sale of Trading Securities

-

0.1

-

-

-

    Disposal of Other Non-Current Finacial I

0.0

0.1

-

-

-

    Proceeds from Sale of Vehicles

-

-

0.0

-

-

    Disposal of Property, Plant and Equipmen

0.0

0.0

-

-

-

    Increase in Other Receivables

-

-0.7

-

-

-

    Incr-ST Loans

-

-

-0.4

0.0

-

    Inc-ST Finl Asset

-

-

-1.8

-0.5

0.0

    Inc-LT Finl Asset

-

-

-

-0.2

-0.3

    Increase-LT Loans

-

-

-

-0.2

-

    Acq-ST Trade Securities

-

-

-

-

-1.1

    Inc-Secs avail. for Sale

-

-

-

-

0.0

    Increase-Securities under Equity Method

-

-

-

-0.7

-2.5

    Purchase of Other Current Finacial Instr

-1.1

-2.2

-

-

-

    Purchase of Other Non-Current Finacial I

-0.2

-0.1

-

-

-

    Inc-Guarantee Dep

-

-

-0.2

-0.1

-0.2

    Purchase of Buildings

-

-

-

-

0.0

    Acq-Molding Equipmt

-

-

-0.2

-0.9

-0.8

    Acq-Tools/Equipmt

-

-

-0.1

-0.1

-0.2

    Purchase of Vehicles

-

-

0.0

-

-

    Purchase of Machinery

-

-

-0.1

-

-

    Increase-Transportation

-

-

-

-

0.0

    Acq-Fixtures

-

-

-0.1

-0.1

0.0

    Acq-Constructn Prog

-

-

-2.3

-0.4

-0.7

    Purchase of Property, Plant and Equipmen

-2.3

-4.3

-

-

-

    Acq-Industr.Patent

-

-

0.0

0.0

0.0

    Acq-Dev't Cost

-

-

-2.4

-2.2

-1.9

    Purchase of Other Intangible Assets

-

-

-0.2

-

0.0

    Purchase of Intangible Assets

-4.3

-3.5

-

-

-

    Increase-Land

-

-

-2.3

-3.0

-

Cash From Investing Activities

-7.6

-9.2

-6.3

-7.8

-4.0

 

 

 

 

 

 

    Inc-ST Borrowings

1.8

4.7

3.8

2.4

2.4

    Inc-LT Borrowing

-

1.0

0.9

2.1

1.1

    Inc-Stock Options

-

-

-

-

0.1

    Increase in Bonds

-

6.1

-

-

-

    Proceeds from Sale of Treasury Stock

-

-

1.5

-

-

    Decrease in Current Borrowings

-2.6

-3.5

-4.5

-1.7

-1.5

    Decrease-Current Portion of Bond

-

-

-1.6

-

-

    Dec-Current Portion of LT Liabilities

-2.5

-1.3

-0.3

-0.4

-1.3

    Decrease in Bonds with Warrant

-1.0

-

-

-

-

    Increase-LT Unearned Income

0.6

0.6

0.4

-

-

    Dividend Paid

-0.8

-0.9

-0.3

-0.4

-0.5

    Repayments of Long-term Borrowings

-

-1.7

-

-

-

    Inc-Stock Issue Cost

-

-

-

-

0.0

    Increase-Rent Guarantee Deposit

0.1

0.0

-

-

-

    Acq-Treasury Stock

-

-

-

-0.4

-0.3

    Exercise of Stock Warrants

1.0

-

-

-

-

Cash From Financing Activities

-3.6

4.9

-0.1

1.6

0.1

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

-0.1

-

-

-

Net Change in Cash

-0.1

0.2

1.2

-0.5

0.6

 

 

 

 

 

 

Cash and Cash Equivalents at Beginning

8.0

7.5

2.2

3.0

2.9

Cash and Cash Equivalents at End

7.9

7.7

3.3

2.5

3.5

    Cash Interest Paid

0.6

0.5

-

-

-

    Cash Taxes Paid

-0.3

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

Updated Normal 
31-Mar-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1131.034971

1107.891393

1095.603455

1101.856011

1120.28956

 

 

 

 

 

 

Net Income

2.0

8.5

4.6

4.2

1.7

    Depreciation

0.4

1.7

1.2

0.8

0.4

    Amortization-Intangible Assets

0.4

1.8

1.3

0.9

0.4

    Stock Compensation Expense

0.0

0.1

0.1

0.0

0.0

    Payment for Retirement Allowance, ONCI

0.2

0.6

0.5

0.3

0.1

    Expense of Allowance for Doubtful Accoun

-

0.1

-

-

-

    Sales Guarantee Expense

-

0.4

0.1

0.1

-

    Loss-Interest Rate Swaps Valuation

-

-

-

-

0.0

    Gain-Interest Rate Swaps Valuation

-

-

-

0.0

-

    Loss-Currency Futures Valuation

-

0.4

0.7

-

-

    Gain-Currency Futures Valuation

-0.1

-

-

-0.3

-0.2

    Gain-Valuation of Currency Option

-0.4

-

-

-0.1

0.0

    Gain-Foreign Currency Translation

0.0

-0.1

-0.6

0.0

0.0

    Loss on Valuation of Currency Options

-

0.9

1.6

-

-

    Loss-Valuation of Financial Assets at Fa

-

-

0.0

0.0

-

    Losses on Valuation of Trading Securitie

-

0.0

-

-

0.0

    Impairment Loss on Intangible Assets

-

0.1

0.1

0.0

-

    Corporate Taxes Expense

0.3

0.3

0.6

0.5

0.3

    Recovery of Impairment Losses on Intangi

0.0

-

-

-

0.0

    Loss-Foreign Currency Translation

0.1

0.2

0.2

0.2

0.2

    Amortization of Stock Warrants Adjustmen

0.0

0.1

0.0

0.0

0.0

    Interest Expenses

0.1

0.5

0.4

0.3

0.2

    Interest Income

-0.1

-0.3

-0.2

-0.1

-0.1

    Impairment Loss on Development Cost

-

0.6

-

-

-

    Gain under Equity Method

-

0.0

-

-

-

    Gain on Disposal of Property, Plant and

-

0.0

-

-

-

    Gain on Valuation of Financial Assets at

0.0

-

-

-

-

    Current Derivatives Assets

-

0.0

0.0

0.0

0.0

    Trade Receivables

-0.8

-0.2

-2.0

-0.7

-

    Other Receivables

-0.1

-0.4

-0.2

-0.3

-

    Trade and Other Receivable

-

-

-

-

0.5

    Other Financial Assets

0.0

-

-0.2

-

-

    Guarantee Deposit for Futures Trade

-

-0.3

-

0.0

-

    Inventory

-1.4

-2.2

-2.0

-1.1

-0.9

    Deferred Income Tax Debit

-

-

-

0.1

-

    Trade Payables

0.8

-1.3

1.3

0.6

-

    Other Payables

0.2

0.2

-0.2

-0.4

-

    Trade and Other Payables

-

-

-

-

0.6

    Derivatives Liabilities

-0.2

-

-0.9

-0.1

-

    Increase in LT Derivatives Liabilities

-

-

0.8

-

-

    Interest Rate Swap Liabilities

0.0

-0.4

-

-

-0.1

    Overseas Business Translation Credit

-

0.3

-

-

-

    Payment-Retirement Bonus

0.0

-0.1

-

-0.1

0.0

    Retirement Pension Operating Fund

0.0

-0.6

-

-

0.0

    Plan Assets

-

-

-

0.0

-

    Government Subsidy, A/L

-

-

-

0.0

-

    Other Current Assets

0.0

-0.5

-1.5

-0.3

-0.1

    Decrease in Other Non-Current Assets

-

-0.3

0.1

-

-

    Non-Current Derivatives Liabilities

-

0.3

-

-

-

    Other Current Liabilities

-0.1

0.5

0.1

0.3

0.2

    Cash-Interest Received

0.0

0.2

0.2

0.3

0.1

    Cash-Interest Paid

-0.1

-0.6

-0.5

-0.1

-0.2

    Cash-Tax Refunded

-0.2

0.3

0.4

0.4

0.0

Cash from Operating Activities

1.0

11.2

6.0

5.5

2.9

 

 

 

 

 

 

    Decrease- Other Non-Current Financial As

0.0

0.0

-

-

-

    Disp-ST Securities Held to Maturities

-

-

-

-

0.1

    Disposal of Financial Assets Held to Mat

-

0.1

0.1

0.1

-

    Decrease-Guarantee Deposit

-

-

0.0

-

-

    Disposal of Property, Plant and Equipmen

-

0.0

-

-

-

    Decrease-Other Receivables

-

0.2

-

0.2

-

    Decrease-ST Loans

-

-

0.2

-

-

    Purchase of Other Current Finacial Instr

-

-1.1

-

-

-

    587,288.554

-0.1

-0.2

-0.2

-

-

    Increase-Guarantee Deposit

-

-

-

-

0.0

    Purchase of Property, Plant and Equipmen

-1.2

-2.3

-1.1

-0.6

-0.4

    Purchase of Intangible Assets

-1.4

-4.3

-3.2

-1.9

-0.9

    Increase-Other ST Financial Assets

-

-

-

0.0

0.0

Cash from Investing Activities

-2.7

-7.6

-4.1

-2.2

-1.2

 

 

 

 

 

 

    Increase-ST Borrowings

-

1.8

0.9

-

-

    Increase-LT Unearned Income

-

0.6

0.3

-

-

    Decrease in Treasury Stocks

2.5

-

-

-

-

    Exercise of Stock Options

-

-

-

0.3

-

    Decrease in Current Borrowings

-

-2.6

-2.6

-1.7

-1.7

    Repayments of Current Portion of Long-te

0.0

-2.5

-2.5

-0.4

-0.4

    Decrease in Bonds with Warrant

-0.8

-1.0

-1.0

-

-

    Dividend Paid

-

-0.8

-0.9

-0.8

-

    Increase-Rent Guarantee Deposit

-

0.1

-

-

-

    Exercise of Stock Warrants

0.8

1.0

1.0

-

-

Cash from Financing Activities

2.4

-3.6

-4.9

-2.7

-2.1

 

 

 

 

 

 

Foreign Exchange Effects

-0.1

-0.1

-0.1

-0.2

-

Net Change in Cash

0.6

-0.1

-3.2

0.4

-0.3

 

 

 

 

 

 

Cash and Cash Equivalents at Beginning

5.8

8.0

5.7

5.6

5.5

Cash and Cash Equivalents at End

6.5

7.9

2.5

6.1

5.2

    Cash Interest Paid

0.1

0.6

0.5

0.1

0.2

    Cash Taxes Paid

0.2

-0.3

-0.4

-0.4

0.0

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.87.55

Euro

1

Rs.68.85

 

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.