Poongsan Q4 net income down 3.8 pct to 39.2 bln won

SEOUL, Poongsan Corp. on Wednesday reported its fourth-quarter net profit of 39.2 billion won (US$29.6 million), down 3.8 percent from a year earlier. The company said in a regulatory filing that it posted 59.5 billion won in operating profit for the quarter, compared with 42.8 billion won a year ago. Revenue fell 1.7 percent to 1.11 trillion won. The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 47.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency