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The increase is to increase in amortization of M14. EBITDA was 2.677 trillion won, representing an EBITDA margin of 50%. CapEx spending was 1.7 trillion in the fourth quarter. For the year, it was slightly above 6 trillion won. There was a net non-operating profit of 35 billion won, mostly attributable to the foreign currency transaction gain of 166 billion won, following the recede of account receivables. This offset the translation loss of approximately 120 billion won that occurred the Korean won remained weak leading to an increase in evaluation of foreign currency borrowings like long term borrowings. Meanwhile as the company continued to record profits as the memory market underwent structural changes, we revisited the possibility of recognizing differed tax assets. The conclusion was that the expiration of tax credit carry forward and net operating loss were not likely. Thus, additional differed tax assets were recognized in the fourth quarter resulting in 57 billion won of income tax benefits. Our net profit after corporate tax for the quarter was 1.629 trillion won with a net profit margin of 30%.

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