SEOUL — LIG Nex1 Co. announced a return to profitability in the fourth quarter, reporting a net income of 49.8 billion won (US$37.5 million).
According to Yonhap News Agency, This marks a significant turnaround from the 38.5 billion won loss recorded in the same period last year. The company, in its regulatory filing, revealed an operating profit of 36.9 billion won for the quarter, an increase from 23.1 billion won a year ago. Additionally, LIG Nex1 saw its revenue rise by 11.9 percent, reaching 680 billion won.
According to the company's financial statements, the improvement in net income and operating profit underscores a period of recovery and growth for LIG Nex1. The defense and technology firm's revenue increase further indicates a strengthening position in its market sectors, building on the momentum of its operational and financial strategies.