Seoul: Auto part maker Hanon Systems Co. on Thursday reported its fourth-quarter net loss of 293.9 billion won (US$203 million), remaining in the red compared with a year ago. The company revealed in a regulatory filing that it posted an operating loss of 98.8 billion won for the October-December period, in contrast to a profit of 58.2 billion won a year earlier. Revenue for the quarter rose by 3.8 percent to reach 2.54 trillion won.

According to Yonhap News Agency, the loss was 709 percent higher than the average estimate, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. This marks a significant deviation from market expectations and highlights the challenges faced by Hanon Systems in maintaining profitability.