Seoul: LS Corp. on Wednesday reported its fourth-quarter net income of 75.7 billion won (US$52.1 million), swinging from a loss of 2.8 billion won a year earlier. Operating income for the October-December period was 259.1 billion won, down 13 percent from a year ago, the company said in a regulatory filing. Revenue rose 26.5 percent to 8.98 trillion won.
According to Yonhap News Agency, the significant rise in revenue in the fourth quarter was a crucial factor in LS Corp.'s return to profitability. The company managed to reverse its previous year's losses despite a decline in operating income. The increase in revenue suggests that LS Corp. successfully expanded its market reach or improved its sales strategies during this period.