Lotte Energy Materials Reports Fourth-Quarter Net Loss

SEOUL—Lotte Energy Materials Corp. experienced a shift in its financial standing, reporting a net loss of 5.8 billion won (US$4.3 million) for the fourth quarter, a significant change from the profit of 600 million won recorded in the same period a year earlier.

According to Yonhap News Agency, the operating income for the October-December period witnessed a drastic decline of 91.4 percent year-on-year to 1.3 billion won. However, the company saw an increase in revenue, which rose 34.1 percent to 229.5 billion won during the quarter.

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