LG reports second straight loss in Q4

By on February 1, 2012 at 11:00 PM.

LG reports second straight loss in Q4

LG Electronics on Wednesday posted its second consecutive quarterly loss despite record flat-panel TV shipments and solid performance from its mobile handset division. The South Korea-based electronics vendor recorded revenue of KRW 13.81 trillion, or approximately $12.05 billion USD, in the fourth quarter of 2011 along with an operating profit of KRW 23 billion, or about $20 million USD. Including one-time charges however, LG posted a net loss of KRW 112 billion, or approximately $97.7 million USD. The firm’s mobile arm posted a profit of KRW 12 billion ($10 million USD) on revenue totaling KRW 2.78 trillion ($2.42 billion USD) and its home entertainment division shipped 8.8 million HDTVs in the quarter. LG warned that first-quarter HDTV sales and mobile handset sales will slow due to seasonal decreases in demand. The company’s full press release follows below. More →

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LG reports record Q4 loss, record drop in annual profit

By on January 26, 2011 at 9:20 PM.

LG reports record Q4 loss, record drop in annual profit

Try as it may, 2010 is a year that LG Electronics will not soon forget. The struggling electronics giant on Wednesday reported its fourth quarter earnings and put the cap on its worst year on record. The company posted a fourth-quarter net loss of 256.4 trillion won compared to profits of 361.9 billion won in the fourth quarter of 2009. Operating profit for the full year was down 93% to 176.4 billion won. Revenue from cell phones dropped 15% as LG’s mobile division posted a 274.1 billion won loss. Shipments were also down 10% to 30.6 million units, pushing LG into the No. 5 spot globally behind RIM. The company will look to new high-end smartphones like the Optimus 2X, Optimus Black and Optimus 3D as it attempts to reverse its declining mobile trend. LG remains the No. 2 TV company globally, as sales in its home entertainment division increased 15.8% compared to the third quarter of this year. Because competition forced LG to drop the average selling price on its television sets, however, the company’s home entertainment business still posted an operating loss in the quarter. Hit the break for LG’s full press release. More →

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LG posts record Q2; hooray for touchscreens and washing machines

By on July 22, 2009 at 10:02 AM.

LG posts record Q2; hooray for touchscreens and washing machines

Well it looks like LG Electronics came through in a big way this past quarter as the company reports a very, very solid performance. Maybe its bid to take over the world isn’t so crazy after all. Let’s start with a couple of records — sales rang up at $11.229 billion, a remarkable 13.8 percent jump YoY, and operating profit came in at $878 million. The company also reported a 7.8 percent margin, up 1.1 percent YoY, while margin for its mobile business exploded to 11 percent from 6.7 percent in the previous quarter. On that note, let’s look briefly at LG’s two biggest businesses — discounting a typo that suggests its Business Solutions sales came in at $787 billion (!). Mobile Communications recorded $7.981 billion in sales, an insane YoY jump of 25.8 percent, and operating profit came in at $422 million with a margin of 10.6 percent. LG’s number two was Home Appliances, which did $1.812 billion in sales. Also noteworthy is the fact that LCD TV shipments increased 45 percent YoY to 4.28 million units as LG’s Home Entertainment business recorded a profit of $174 million on $3.492 billion in sales. As far as projections, LG’s sales are expected to rise about 10 percent this quarter but profits are expected to remain relatively flat — not the most exciting outlook but it leaves plenty of room for a pleasant surprise when LG reports Q3.

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