SKorea LG Philips LCD incurs Q4 opg loss on price declines |
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Tue, 16 Jan 2007 08:56
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SEOUL (XFN-ASIA) - Panel maker LG Philips LCD said it posted a third consecutive quarterly loss in the three months to December as product price declines continued to weigh on earnings.The firm said it posted an operating loss of 177 bln won in the fourth quarter. The results were slightly worse than the market consensus estimate for a loss of 160 bln-170 bln won but an improvement on the previous quarter's loss of 382 bln. In the year earlier term the firm posted operating profit of 334 bln a year earlier.LG Philips LCD, a joint venture between South Korea's LG Electronics and Royal Philips Electronics NV, attributed the quarter-on-quarter improvement in the operating line to cost cutting and strong seasonal demand.It posted a net loss of 174 bln won in the fourth quarter, compared with a profit of 329 bln the year earlier.Revenue, meanwhile, reached a record 3.065 trln won in the quarter, it said.For the first quarter of 2007, the company said expects total shipments to decline by a mid-single digit percentage figure from the previous quarter, with TV shipments also weakening while IT shipments riseThe average selling price per square meter at the end of the first quarter this year, as well as the average ASP over the quarter, is expected to post a percentage decline in the low-teens, it said.The EBITDA margin in percentage terms for the first quarter of 2007 is expected to be in the mid-teens, it said.( 1 usd = 935.60 won )shinsaeromi@xinhuafinance.com
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