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January 27, 2010

NHN Q4 sales up 2% to KRW321.3bn

Net earnings up 8% on higher revenues from on-line ads

By CBR Staff Writer

NHN, the operator of South Korea’s internet search engine, has reported sales of KRW321.3bn, an increase of 2% compared to the same period last year.

The company reported an operating profit of KRW145.68bn, an increase of 18% compared to the same  period a year ago. The fourth-quarter earnings rose 8% from a year-earlier quarter, on higher revenues from on-line ads.

For the quarter, the company posted a net income of KRW106.51bn (US$92m), compared to KRW98.73bn for the same period last year. The bottom line is down 0.3% from the previous quarter. The company posted a net income KRW106.8bn for the third quarter of 2009.

For the full year 2009, the company’s sales rose 2% to KRW1.24 trillion, compared to the same period last year. Net income rose by 16% to KRW420bn, compared to the same period a year ago.

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