Friday, July 25th, 2014
SEOUL, KOREA - LG Innotek announced on July 24 that it posted the second-quarter financial results, including sales revenue of 1,542.9 billion won and operating profit of 89.9 billion won. This is up 1.4 percent and 152 percent, respectively, from the same period last year. Comparing to the previous quarter, this is up 5.8 percent and 42.5 percent.
According to the company, its financial structure has become more sound with its debt-to-equity ratio falling 66 percentage points to 172 percent from the first quarter.
A company official said, "Despite the unfavorable movement of the won-dollar exchange rate and the rising competition, we could strengthen our competitive edge and improve financial performance. In the second half, we will keep the growth momentum by responding proactively to our client firms' new product launch timing."
At 11:58 am on July 24 after the earnings announcement, the shares of LG Innotek were traded at 139,500 won, up 0.72 percent from the previous day.