SKorea's LG Philips LCD posts Q1 opg loss on price falls; 4th qtrly loss in row |
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Tue, 10 Apr 2007 08:42
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SEOUL (XFN-ASIA) - LG Philips LCD said it posted a fourth consecutive quarterly loss in the three months to March, with product price declines continuing to weigh on its performance.The panel maker said it posted an operating loss of 208 bln won in the first quarter, compared to a profit of 52 bln won in the year earlier term.The results were also worse than the previous quarter's loss of 177 bln won due to seasonality factors, though they bettered the market consensus estimate of a loss of 250 bln won.The company also announced a net loss of 169 bln won for the quarter, reversing net profit of 48 bln won the year earlier. In the quarter to December the company posted a net loss of 174 bln won.Revenue totaled 2.72 trln won in the first quarter, up 10.2 pct year-on-year but down 11.2 pct quarter-on-quarter.For the second quarter of 2007, the company said it expects shipments to increase by a high teens percentage, with an average ASP decline of a mid-single digit percentage.The EBITDA margin during the second quarter is expected to be a low twenties percentage, it added.The company also said it is targeting an increase in input capacity at its P7 plant to 110,000 input sheets per month in the third quarter to reflect an anticipated demand increase in the second half.( 1 usd = 933.90 won )shinsaeromi@xinhuafinance.com
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