This excerpt taken from the LPL 6-K filed Jun 12, 2006.
LG.PHILIPS LCD UPDATES SECOND QUARTER 2006 BUSINESS OUTLOOK
SEOUL, Korea (June 12, 2006) LG.Philips LCD (NYSE: LPL, KRX: 034220), one of the worlds leading TFT-LCD manufacturers, today updated its outlook for the second quarter of 2006.
Based on currently available information and current market conditions:
Several factors affected the global LCD industry during the second quarter. First, the industry experienced larger than expected price declines across all product categories. In addition, while mid-to-long term demand for flat screen panels remains strong, we saw weaker seasonal demand during the second quarter, which has increased our inventory to about four weeks, a higher level than anticipated, commented Ron Wirahadiraksa, President and Chief Financial Officer of LG.Philips LCD. Given these factors, we have decided to temporize production to address inventory concerns and better balance our short term supply with demand. Furthermore, we are reviewing our total capacity plans for the year and beyond.
LG.Philips LCD expects to report final second quarter results on Tuesday, July 11th and will conduct a conference call at that time to discuss the results.
This excerpt taken from the LPL 6-K filed Mar 21, 2006.
LG.PHILIPS LCD UPDATES FIRST QUARTER 2006 BUSINESS OUTLOOK
SEOUL, Korea (March 21, 2006) LG.Philips LCD (NYSE: LPL, KRX: 034220), one of the worlds leading TFT-LCD manufacturers, today updated its first quarter business outlook of 2006.
The following is based on currently available information and current market conditions. For the first quarter of 2006, LG.Philips LCDs area shipments are expected to decline slightly compared to the fourth quarter of 2005, a change from previous guidance of a mid-single digit percentage increase. The panel price per square meter of glass at the end of the first quarter of 2006 versus the end of the fourth quarter of 2005 is expected to decrease by a high single digit percentage, slightly greater than the Companys previous guidance of a mid-single digit percentage decline. The Companys EBITDA margin percentage is now expected to be in the mid-twenties, an improvement over the previous guidance of a high teens percentage.
During the first quarter of 2006, the industry is witnessing a faster than expected ASP decline in all product segments. Although LCD TV sales remain strong, we are experiencing greater than expected seasonal weakness in the other product segments in this period, which affects our area shipment levels, said Ron Wirahadiraksa, President and Chief Financial Officer of LG.Philips LCD. Despite these factors, we were able to generate a better than expected cost down in our fabs. In fact, given the strong performance of our newest fab, P7, we now anticipate reporting a better EBITDA performance for the first quarter of 2006. We are particularly pleased with this, given the quarters weaker pricing environment.
LG.Philips LCD expects to report its first-quarter results on Tuesday, April 11 and will conduct an earnings conference and earnings call at that time.