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Monday April 11, 07:17
LG.Philips LCD swung to 1Q net loss due to weak LCD prices
(by Roy Deng)

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LG.Philips LCD swung to 1Q net loss due to weak LCD prices LG.Philips LCD, the world’s second-largest maker of LCD displays, reported on Monday that it swung to a first-quarter net loss due to weak LCD display prices.

The company reported a net loss of 79 billion won ($77.8 million) from a net profit of 628 billion won a year earlier. Analysts were expecting LG.Philips LCD to post a net loss of 81.4 billion won.

Revenue fell 6% to 2.06 trillion won from 2.19 trillion won in the previous year. Shipments rose 24%. In the current quarter the company is expecting shipments to rise at least 10%.Company’s sales fell 16% to 1.8 trillion won. Operating loss amounted to 162 billion won, analysts were forecasting a loss of 97 billion won.


The market ``will begin to stabilize and then show signs of strengthening later in the year, mainly due to the growing demand for LCD TVs,’’ said Ron Wirahadiraksa, LG.Philips Chief Financial Officer.


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