Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Deutsche Boerse AG  >  LG Electronics Inc.    LGLG

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

LG ELEC GDR'REGS'/ : LG ANNOUNCES FIRST-QUARTER 2012 FINANCIAL RESULTS 2012-04-25

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/25/2012 | 07:55am CET

In the Black, Company Reports Significant Improvement by
Focusing on Higher Margins and Efficient Operation

SEOUL, Apr. 25, 2012 -- LG Electronics Inc. (LG) today announced that after two consecutive quarters of net losses, the company has turned the corner with a net profit of KRW 243 billion (USD 214.9 million), a direct result of the company's efforts to innovate in all key business units and focus on high performing products.

Unaudited consolidated financial results, based on IFRS (International Financial Reporting Standards) for the quarter ending March 31, 2012, showed consolidated revenues of KRW 12.2 trillion (USD 10.8 billion) with an operating profit of KRW 448 billion (USD 396.1 million). This compares favorably to the consolidated operating profit of KRW 280 billion for all of 2011.

LG Home Entertainment Company posted significantly improved operating profit in the quarter, compared with the same period a year ago. Sales, while strong at KRW 5.3 trillion (USD 4.7 billion), declined by 6.8 percent compared with the first-quarter of 2011, largely due to the a sluggish European economy. Due in large part to the popularity of new products such as CINEMA SCREEN 3D Smart TV in the Korean market and improvements in supply chain management, operating profit nearly doubled to 217 billion (USD 191.9 million) from the same period the previous year. LG will leverage upcoming big ticket sporting events and the global roll-out of LG's redesigned 2012 TV models to stimulate higher demand for its Home Entertainment products.

LG Mobile Communications Company saw operating profit more than triple quarter-over-quarter from KRW 12 billion to KRW 39 billion (USD 34.5 million) as a result of a better product mix and an increase in the proportion of smartphone sales. 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. The company expects to strengthen its smartphone line-up even more in the second quarter with the introduction of its L-Style series and quad-core smartphones.

LG Home Appliance Company's first-quarter 2012 operating profit increased 48 percent from the same period last year to KRW 152 billion (USD 134.4 million) thanks to higher average sales price, better product mix and cost efficiency. A 2.7 percent decrease in revenues year-over-year, to KRW 2.5 trillion (USD 2.2 billion), primarily reflected a slowdown in China and developed markets. Despite continued sluggishness in major markets and a rise in the cost of raw materials, the company will continue to efficiently allocate resources and develop differentiated products such as the Blast Chiller refrigerator.

LG Air Conditioning and Energy Solution Company saw operating profit more than double from the same period last year to KRW 81 billion (USD 71.6 million) thanks to new high-end products and cost structure improvements. First-quarter revenues were essentially flat, declining 1.2 percent year-over-year to KRW 1.2 trillion (USD 1.1 billion). LG is optimistic that government policies to promote the usage of energy-efficient products in homes and businesses will create new growth opportunities for the company, along with highly efficient commercial air conditioners.

2012 1Q Exchange Rates Explained
LG Electronics unaudited earnings results are based on IFRS and amounts in Korean Won (KRW) are translated into US Dollars (USD) at the average rate of the three month period in each corresponding quarter: KRW 1,131 per USD (2012 1Q) and KRW 1,121 per USD (2011 1Q).

Earnings Conference and Conference Call
LG Electronics will hold a Korean language earnings news conference on April 25, 2012 at 16:00 Korea Standard Time at the LG Twin Tower Auditorium (B1 East Tower, 20 Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea). An English language conference call will follow on April 26, 2012 at 10:00 Korea Standard Time (01:00 GMT/UTC). Participants are instructed to call +82 31 810 3069 and enter the passcode 9084#. The corresponding presentation file will be available for download at the LG Electronics website ( www.lg.com/global/ir/reports/earning-release.jsp   ) at 13:30 on April 25, 2012. Please visit http://pin.teletogether.com/eng/ and pre-register with the passcode provided. For those unable to participate, an audio recording of the news conference will be available for a period of 30 days after the conclusion of the call. To access the recording, dial +82 31 931 3100 and enter the passcode 142650# when prompted.


# # #

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on LG ELECTRONICS INC.
01:19a LG ELECTRONICS : At 2017 CES, LG expands IOT ecosystem with robot solutions
01/19 LG ELECTRONICS : Researchers Submit Patent Application, "Mobile Terminal and Con..
01/19 LG ELECTRONICS : Patent Issued for Method of Predicting a Motion Vector for a Cu..
01/19 LG ELECTRONICS : Patent Issued for Image Display Apparatus and Method for Operat..
01/19 LG ELECTRONICS : Patent Issued for Digital Device Providing a Touch Compensation..
01/19 LG ELECTRONICS : Patent Issued for Fixing Bracket for Antenna Cable and Portable..
01/19 LG ELECTRONICS : Patent Application Titled "Watch Type Terminal" Published Onlin..
01/19 LG ELECTRONICS : Patent Application Titled "Electronic Device and Method for Con..
01/19 LG ELECTRONICS : Patent Issued for Digital Device and Method for Controlling the..
01/19 LG ELECTRONICS : Patent Issued for Method and Apparatus for Allocating Control C..
More news
Sector news : Household Electronics - NEC
01/19DJMCCARTNEY IMPLORES COURT : 'Help!' -- WSJ
01/03DJWALT DISNEY : Rogue One' Leads Again -- WSJ
2016DJASIA MARKETS : Asian Stocks Rise Ahead Of New Year's Weekend
2016 Watchmaker Swatch goes into car batteries as investors question strategy
2016 Virtual assistants expected to top virtual reality in holiday sales
More sector news : Household Electronics - NEC
Advertisement
Financials ( KRW)
Sales 2016 54 892 B
EBIT 2016 1 430 B
Net income 2016 451 B
Debt 2016 5 671 B
Yield 2016 0,78%
P/E ratio 2016 21,85
P/E ratio 2017 11,57
EV / Sales 2016 0,27x
EV / Sales 2017 0,26x
Capitalization 9 296 745 M
More Financials
Chart LG ELECTRONICS INC.
Duration : Period :
LG Electronics Inc. Technical Analysis Chart | LGLG | US50186Q2021 | 4-Traders
Full-screen chart
Income Statement Evolution
More Financials
Consensus 
Mean consensus OUTPERFORM
Number of Analysts 39
Average target price 60 255  KRW
Spread / Average Target 11%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Do-Hyun Jung Co-President, Co-CEO, CFO & Director
Jun-Ho Jo Co-President, Co-CEO & Director
Sung-Jin Cho Co-President, Co-CEO & Director
Jong-Sik Kim COO & President-Executive Board
Skott Ahn President-Executive Board & CTO
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
LG ELECTRONICS INC.1.17%7 921
SONY CORP5.69%38 249
PANASONIC CORPORATION1.39%25 811
SHARP CORPORATION10.00%12 907
LG CORP--.--%8 840
LG ELECTRONICS INC.--.--%7 921
More Results