|
|
![]() | ![]() | ![]() | ![]() |
This excerpt taken from the LPL 6-K filed Jan 16, 2007. LG.PHILIPS LCD REPORTS FOURTH QUARTER 2006 RESULTS SEOUL, Korea January 16, 2007 LG.Philips LCD [NYSE: LPL, KRX: 034220], one of the worlds leading TFT-LCD manufacturers, today reported unaudited earnings results based on consolidated Korean GAAP for the three-month period ended December 31, 2006. Amounts in Korean Won (KRW) are translated into US dollars (USD) at the noon buying rate in effect on December 29, 2006, which was KRW 930.00 per US dollar.
Ron Wirahadiraksa, CFO of LG.Philips LCD, said, We are encouraged by our performance this quarter and the results of the enhanced cost reduction initiatives we are implementing. During the fourth quarter, we were able to reduce our COGS per square meter in KRW by 10% sequentially. In addition, we maintained finished goods inventory levels at slightly under three weeks at the end of the quarter. Further, the increasing number of long-term supply agreements we have secured, reflects our continued focus on closer customer collaboration as we head into a challenging market environment in 2007. Responding to the needs of our customers and a rapidly evolving global business environment remains a key focus of LG.Philips LCD, Mr. Wirahadiraksa continued. We believe our strategy is strong and that the new leadership team, announced in late December, will further enhance the Companys global standing and business capabilities.
4
Fourth Quarter Financial Review Revenue and Cost Revenue in the three-month period ended December 31, 2006, increased by 3% to KRW 3,065 billion (USD 3,296 million) from KRW 2,963 billion (USD 3,186 million) in the corresponding period of 2005. TFT-LCD panels for TVs, desktop monitors, notebook computers and other applications accounted for 48%, 27%, 21% and 4%, respectively, on a revenue basis in the fourth quarter of 2006. Overall, the Company shipped a total of 2.3 million square meters of net display area in the fourth quarter of 2006, a 14% increase quarter-on-quarter, with an average selling price per square meter of USD 1,414. This represents a decrease in the average selling price per square meter of net display area of approximately 3% compared to the end of the third quarter of 2006 and an average decrease of 1% from the third quarter of 2006. The total cost of goods sold increased 2% sequentially to KRW 3,090 billion (USD 3,323 million), and increased 26% year-over-year driven by shipment growth. The cost of goods sold per square meter of net display area shipped was KRW 1.4 million (USD 1,460) for the fourth quarter of 2006, down 10% from the third quarter of 2006. Liquidity As of December 31, 2006, LG.Philips LCD had KRW 954 billion (USD 1,026 million) of cash and cash equivalents. Total debt was KRW 4,121 billion (USD 4,431 million), and the net debt-to-equity ratio was 46% as of December 31, 2006, compared to 57% as of September 30, 2006. Capital Spending Capital expenditures in the fourth quarter of 2006 were KRW 324 billion (USD 348 million) compared to KRW 1,396 billion (USD 1,501 million) in the fourth quarter of 2005, and were primarily invested in Gen 5.5, the Poland module plant, the enhancement of production efficiency, and the maintenance of existing facilities. Utilization and Capacity Total input capacity on an area basis increased approximately 17% sequentially in the fourth quarter, mainly attributable to the ramp up of P7, which currently averages 78,000 input sheets per month. This excerpt taken from the LPL 6-K filed Oct 10, 2006. LG.PHILIPS LCD REPORTS THIRD QUARTER 2006 RESULTS SEOUL, Korea October 10, 2006 LG.Philips LCD [NYSE: LPL, KRX: 034220], one of the worlds leading TFT-LCD manufacturers, today reported unaudited earnings results based on consolidated Korean GAAP for the three month period ended September 30, 2006. Amounts in Korean Won (KRW) are translated into US dollars (USD) at the noon buying rate in effect on September 30, 2006, which was KRW 946.25 per US dollar.
During the third quarter, our business did not perform at the level we expected, primarily due to higher than anticipated price declines mainly for LCD TVs. As such, the Company continues to take the necessary steps to correct the issues that have limited our progress in recent quarters. Our ability to effectively reduce costs and improve efficiencies will be crucial in restoring profitability as we prepare for what we believe will be a difficult first half of 2007. We have made some inroads in these areas, and will take more substantial steps going forward, said Bon Joon Koo, CEO of LG.Philips LCD. Mr. Koo continued, As part of our ongoing efforts to restore value for our shareholders, we have initiated a number of actions to improve customer alignment and ensure that our operations support their future needs. Toshibas equity participation in our new Poland module plant and our focus on Gen 5.5 to accommodate increasing demand for large and wide format notebooks and high-end monitors, are two such examples.
1
This excerpt taken from the LPL 6-K filed Jul 11, 2006. LG.PHILIPS LCD REPORTS SECOND QUARTER 2006 RESULTS SEOUL, Korea July 11, 2006 LG.Philips LCD [NYSE: LPL, KRX: 034220], one of the worlds leading TFT-LCD manufacturers, today reported unaudited earnings results based on consolidated Korean GAAP for the three month period ended June 30, 2006. Amounts in Korean Won (KRW) are translated into US dollars (USD) at the noon buying rate in effect on June 30, 2006, which was KRW 948.5 per US dollar.
The second quarter was a difficult quarter for the Company, as we were significantly impacted by much greater than expected industry-wide pricing weakness. As we look closely at our business and the long-term growth prospects for the TFT-LCD industry, we remain committed to building sustainable value for shareholders and customers by balancing long-term growth strategies with shorter-term actions designed to maximize operating profits, said Bon Joon Koo, Vice Chairman and CEO of LG.Philips LCD. Mr. Koo continued, The decision to continue evaluating any further investment in a next generation and invest in a multi-purpose Gen 5.5 facility, which will be housed in our P8 facility, demonstrates our resolve to both adapt to changing market conditions and to make timely investments to meet our customers forthcoming needs, particularly in the expanding wide format notebook and high-end monitor segments.
This excerpt taken from the LPL 6-K filed Apr 11, 2006. LG.PHILIPS LCD REPORTS FIRST QUARTER 2006 RESULTS SEOUL, Korea April 11, 2006 LG.Philips LCD [NYSE: LPL, KRX: 034220], one of the worlds leading TFT-LCD manufacturers, today reported unaudited earnings results based on consolidated Korean GAAP for the three month period ended March 31, 2006. Amounts in Korean Won (KRW) are translated into US dollars (USD) at the noon buying rate in effect on March 31, 2006, which was KRW 971.4 per US dollar.
We began 2006 with the ramp up of P7, the worlds largest 7th generation facility. P7 will further strengthen our position in the TFT-LCD market, especially in the large panel LCD TV segment. P7 is optimized for the production of 42- and 47-inch LCD TV panels in full HD, where we are driving increased market demand, said Bon Joon Koo, Vice Chairman and CEO of LG.Philips LCD. In addition, we achieved a significant milestone with the creation of the worlds largest LCD panel this quarter. The technology involved in creating a 100-inch LCD TV panel will be a catalyst for further TV innovation as we continue to meet the high demand for better picture quality and larger sizes. Mr. Koo continued, P7 adds to our scale and capacity advantage, which is key to expanding our product offering. This allows us to meet the needs of our customers, particularly in the fast-growing LCD TV segment.
1
| EXCERPTS ON THIS PAGE:
RELATED TOPICS for LPL: |
| |||||||