Seoul: Hanmi Semiconductor Co. reported a fourth-quarter net profit of 29.3 billion won (US$19.9 million), marking a decrease of 48.1 percent from the same period last year.

According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the quarter amounted to 27.6 billion won, a significant drop from the 71.9 billion won recorded in the previous year. The company's revenue also saw a decline, falling 44.5 percent to 83 billion won.

The latest financial results reflect challenges faced by Hanmi Semiconductor in maintaining its profit margins amidst changing market conditions. The reduced figures highlight a period of adjustment for the company as it navigates a competitive industry landscape.