Seoul Semiconductor Co., Ltd. Reports Separate Earnings Results for the Fourth Quarter and Year of 2011 and Consolidated Earnings Results for the Year 2011, Under K-IFRS; Provides Earnings Guidance for the First Quarter of 2012
February 22, 2012
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Seoul Semiconductor Co., Ltd. reported separate earnings results for the fourth quarter and year of 2011 and consolidated earnings results for the year 2011, under K-IFRS. For the quarter, on separate basis, the company reported sales of KRW 157,891 million against KRW 222,265 million a year ago. Operating loss was KRW 10,021 million against operating profit of KRW 25,657 million a year ago. Net loss was KRW 10,871 million against net profit of KRW 29,329 million a year ago. Loss before tax was KRW 11,212 million against earnings before tax of KRW 29,595 million a year ago. Impacted by weak mid/large size BLU sales and seasonality. Turn to loss due to SG&A expense burden and FX loss.
For the year, on separate basis, the company reported sales of KRW 739,477 million against KRW 839,016 million a year ago. Operating profit was KRW 28,727 million against operating profit of KRW 117,352 million a year ago. Net profit was KRW 34,620 million against net profit of KRW 108,463 million a year ago. Earnings before tax were KRW 41,322 million against earnings before tax of KRW 126,266 million a year ago.
For the year, on consolidated basis, the company reported sales of KRW 749,802 million against KRW 839,329 million a year ago. Operating profit was KRW 29,603 million against operating profit of KRW 115,707 million a year ago. Net profit was KRW 17,199 million against net profit of KRW 104,265 million a year ago. Earnings before tax were KRW 23,909 million against earnings before tax of KRW 122,079 million a year ago.
For the first quarter of 2012, the company expects revenue between KRW 160 billion to KRW 170 billion.
Seoul Semiconductor Co Ltd is a Korea-based company engaged in the manufacture and sale of light emitting diodes (LEDs). The Company manufactures and sells LED products for automobiles, traffic lights, electronic boards, lighting, and liquid crystal display (LCD) light sources. The Company sells its products in domestic and overseas markets such as Europe, Japan, the Middle East, North America, South America and China.
Seoul Semiconductor Co., Ltd. Reports Separate Earnings Results for the Fourth Quarter and Year of 2011 and Consolidated Earnings Results for the Year 2011, Under K-IFRS; Provides Earnings Guidance for the First Quarter of 2012