By Kwanwoo Jun
Samsung Electro-Mechanics Co.'s third-quarter net profit more than doubled from a year earlier thanks to solid growth at its multilayer ceramic capacitors business.
Net profit for the quarter ended September was 240.00 billion won ($212.7 million) compared with net profit of KRW109.40 billion in the same quarter a year earlier, the South Korean electronics parts supplier said Monday. That beat a FactSet-compiled consensus forecast for net profit of KRW163.16 billion.
Revenue rose 3.3% to KRW2.288 trillion, while operating profit jumped 60% to KRW302.48 billion.
The company expects demand for MLCCs--widely used for mobile handsets and various other computer devices--to remain solid and drive earnings growth through the fourth quarter.
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(END) Dow Jones Newswires