Company Reports Third
Consecutive Quarter of Solid Net
LG
Electronics (LG) has reported a solid third-quarter performance with the third
consecutive quarter of positive net income and all four companies recording
strong operating profits. Better-than-expected performance in the mobile and
home appliance businesses helped offset a slight decline in overall
year-over-year sales for the third quarter.
Third-quarter net profit of USD 138.57 million with operating profit recording USD 195.06 million showed significant improvements from the loss in the same period last year. Third-quarter revenues fell 4 percent year-over-year to USD 10.93 billion due to the continuing decline of feature phone sales and overall weak demand.
LG Home Entertainment Company third-quarter 2012 sales of USD 4.84 billion were led by an increase in LCD TV sales, offsetting sluggish global demand. Percentage sales attributed to 3D TVs and LED TVs increased quarter-on-quarter with unit sales growing in most regions. IT products led by IPS monitors and monitor TVs also increased from the previous quarter. Operating profit of USD 78.5 was unchanged from third quarter 2011. In the fourth quarter, the company plans to increase sales of LCD TVs by expanding marketing of CINEMA 3D Smart TVs and enhancing its premium brand positioning with the new Ultra HD TV.
LG Mobile Communications Company improved significantly in the 2012 third quarter, recording operating profit of USD 19.42 million due in large part to healthy sales of LTE smartphones in Korea, Japan and the United States. In addition, Optimus L-Series continued to expand into 3G markets, contributing to the sales increase. Revenues increased by 5 percent quarter-to-quarter to USD 2.16 billion as shipments exceeded 14 million units, an increase of 9 percent from the previous quarter. The company expects to further increase its shipments and revenue in the fourth quarter with the global launch of the Optimus G superphone and sales of Optimus Vu: 2 in Korea.
LG Home Appliance Company reported improved sales and operating profit from the same quarter last year. Revenue increased 6.4 percent year-over-year to USD 2.53 billion and operating profit of USD 113.86 million reflected strong sales in the United States as well as emerging markets. With global appliance demand stagnant, the fourth quarter will be challenging but additional marketing promotions and new model launches should help offset the situation.
LG Air Conditioning and Energy Solution Company posted a 3 percent year-over-year sales decline to USD 859.66 million while profitability increased slightly from the same period the previous year. The company expects worldwide demand to remain sluggish but the trend toward more energy efficient products should help drive demand in its commercial air conditioning systems business.
Third-quarter net profit of USD 138.57 million with operating profit recording USD 195.06 million showed significant improvements from the loss in the same period last year. Third-quarter revenues fell 4 percent year-over-year to USD 10.93 billion due to the continuing decline of feature phone sales and overall weak demand.
LG Home Entertainment Company third-quarter 2012 sales of USD 4.84 billion were led by an increase in LCD TV sales, offsetting sluggish global demand. Percentage sales attributed to 3D TVs and LED TVs increased quarter-on-quarter with unit sales growing in most regions. IT products led by IPS monitors and monitor TVs also increased from the previous quarter. Operating profit of USD 78.5 was unchanged from third quarter 2011. In the fourth quarter, the company plans to increase sales of LCD TVs by expanding marketing of CINEMA 3D Smart TVs and enhancing its premium brand positioning with the new Ultra HD TV.
LG Mobile Communications Company improved significantly in the 2012 third quarter, recording operating profit of USD 19.42 million due in large part to healthy sales of LTE smartphones in Korea, Japan and the United States. In addition, Optimus L-Series continued to expand into 3G markets, contributing to the sales increase. Revenues increased by 5 percent quarter-to-quarter to USD 2.16 billion as shipments exceeded 14 million units, an increase of 9 percent from the previous quarter. The company expects to further increase its shipments and revenue in the fourth quarter with the global launch of the Optimus G superphone and sales of Optimus Vu: 2 in Korea.
LG Home Appliance Company reported improved sales and operating profit from the same quarter last year. Revenue increased 6.4 percent year-over-year to USD 2.53 billion and operating profit of USD 113.86 million reflected strong sales in the United States as well as emerging markets. With global appliance demand stagnant, the fourth quarter will be challenging but additional marketing promotions and new model launches should help offset the situation.
LG Air Conditioning and Energy Solution Company posted a 3 percent year-over-year sales decline to USD 859.66 million while profitability increased slightly from the same period the previous year. The company expects worldwide demand to remain sluggish but the trend toward more energy efficient products should help drive demand in its commercial air conditioning systems business.
No comments:
Post a Comment