The LG Home Entertainment Company reported record sales of flat-panel TVs with 9.3 million units in the fourth quarter resulting in a 17.4 percent revenue increase quarter-on-quarter to KRW 6.44 trillion (USD 5.91 billion) and full-year operating profit of KRW 542 billion (USD 480.92 million).
First-quarter revenues were essentially flat, declining 1.2 percent year-over-year to KRW 1.2 trillion (USD 1.1 billion).
ENGADGET: LG's Q1 2012 earnings show greater profits on strong TV, phone sales
Third-quarter revenues fell 4 percent year-over-year to KRW 12.38 trillion (USD 10.93 billion) due to the continuing decline of feature phone sales and overall weak demand.
ENGADGET: LG records a 'solid' $138.57 million net profit for Q3, keeps the positive trend going
Revenues increased by 5 percent quarter-to-quarter to KRW 2.45 trillion (USD 2.16 billion) as shipments exceeded 14 million units, an increase of 9 percent from the previous quarter.
ENGADGET: LG records a 'solid' $138.57 million net profit for Q3, keeps the positive trend going
Revenue increased 6.4 percent year-over-year to KRW 2.87 trillion (USD 2.53 billion) and operating profit of KRW 129 billion (USD 113.86 million) reflected strong sales in the United States as well as emerging markets.
ENGADGET: LG records a 'solid' $138.57 million net profit for Q3, keeps the positive trend going
Overall revenues declined 14 percent year-over-year from KRW 2.9 trillion to KRW 2.5 trillion (USD 2.2 billion) as a result of declining feature phone sales but smartphone revenue increased due to the popularity of Optimus LTE and Optimus Vu: in the home market.
ENGADGET: LG's Q1 2012 earnings show greater profits on strong TV, phone sales
Amounts in Korean Won (KRW) are translated into U.S. Dollars (USD) at the average rate of the three-month period in each corresponding quarter: KRW 1, 133 per USD (2012 3Q) and KRW 1, 082 per USD (2011 3Q).
ENGADGET: LG records a 'solid' $138.57 million net profit for Q3, keeps the positive trend going
Third-quarter net profit of KRW 157 billion (USD 138.57 million) with operating profit recording KRW 221 billion (USD 195.06 million) showed significant improvements from the loss in the same period last year.
ENGADGET: LG records a 'solid' $138.57 million net profit for Q3, keeps the positive trend going
Average rate of the twelve-month period in 2012 was KRW 1, 127 per USD.
The LG Home Appliance Company posted almost flat revenues year-on-year, with sales of KRW 2.94 trillion (USD 2.7 billion) in the fourth quarter as strong sales in the U.S. and CIS countries were largely offset by sluggish demand in Europe, the Middle East and Latin America.
For full-year 2012, the company recorded revenues of KRW 4.35 trillion (USD 3.86 billion) and operating profit of KRW 156 billion (USD 138.42 million).
Despite a 6 percent revenue decrease from 2011, operating profits increased significantly in 2012 to KRW 1.14 trillion (USD 1.01 billion) from KRW 379 billion (USD 342.06 million) in full-year 2011.
Fourth quarter revenues were the highest of the year, growing 15 percent to KRW 2.81 trillion (USD 2.58 billion) quarter-on-quarter.
Unaudited consolidated financial results for the fourth quarter ending Dec. 31, 2012 showed a net loss of KRW 468 billion (USD 428.96 million) which reflects a fine related to alleged cathode-ray tube pricing issues imposed by the European Commission in December.
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