Woongjin Coway Co., Ltd. Announces Earnings Results for the Fourth Quarter and Full Year of 2011; Provides Earnings Guidance for the Year 2012
February 15, 2012
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Woongjin Coway Co., Ltd. announced earnings results for the fourth quarter and full year of 2011. For the quarter, the company reported sales of KRW 4,440 billion, operating profit of KRW 628 billion, net income of KRW 471 billion as compared to sales of KRW 3,988 billion, operating profit of KRW 532 billion, net income of KRW 366 billion for the same period prior year.
For the year, the company reported sales of KRW 17,099 billion, operating profit of KRW 2,425 billion, net income of KRW 1,771 billion as compared to sales of KRW 15,018 billion, operating profit of KRW 2,535 billion, net income of KRW 1,833 billion for the same period prior year. The decrease of operating profit was due to the introduction of K-IFRS. The boost of sales mainly came from the increase of rental and lump-sum sales of environmental products, continuous growth of
rental and membership accounts, expansion of overseas sales and successful foray into the domestic cosmetics market.
Fro the year 2012, the company is expecting KRW 1.92 trillion, up 12.3%, in sales and KRW 278.4 billion, up 14.8%, in operating profit.
Coway Co Ltd, formerly Woongjin Coway Co Ltd, is a company principally engaged in the provision of water purifiers. The Company's products portfolio consists of water purifiers, air purifiers, electronic bidets, non-electronic bidets, water softeners, vacuum cleaners, water dispensers, food waste treatment solutions and sewage treatment solutions for household and business uses. Its water purifiers include free standing, counter top and under sink types. It also involves in the mattress rental and related home care services. The Company mainly provides its products through rental and lump sum payment to its customers. The Company distributes its products in domestic and overseas markets.
COWAY CO., LTD. 
