Business Wire

Seoul Semiconductor achieves 1.04 billion US$ record annual revenues for fiscal year 2017

Del

Seoul Semiconductor Co., Ltd. (KOSDAQ 046890), a market leader in LED (light emitting diode) design and manufacturing, today announced 2017 fiscal year consolidated revenues of US$ 1.04 billion. The 16% rise in consolidated revenues far exceeds the industry average, which grew 2% during the same period. The growth of revenue is contributed to improvements in both general lighting sales and IT product related sales growing in the mid-teens as well as the automotive lighting business which grew more than 20%.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180130005564/en/

Headquarters Seoul Semiconductor Co., Ltd., Ansan, South Korea (Photo: Business Wire)

Headquarters Seoul Semiconductor Co., Ltd., Ansan, South Korea (Photo: Business Wire)

The rise in revenue for the general lighting segment was largely due to an increase in sales of 220V and 370V Acrich MJT products for household and industrial applications. Other notable revenue increases were reported for WICOP, an innovative product line of package-less LEDs, as well as for the Acrich NanoDriver, which incorporates step drive methods that achieve results greater than those of conventional SMPS technology. In addition to offering these differentiated technologies, Seoul expects its SunLike natural spectrum LED technology, which may offer health benefits for human eyes, to lead the future of LED lighting and become a large contributor to the future sales and profit for the company.

Researchers who won the Nobel Prize in 2017 were recognized for their new findings of the impact of light on circadian rhythm in humans. This has proven to be an important topic in our society and generated great attention for Dr. Charles Czeisler, the Harvard professor that has dedicated his research to this particular area. He is now conducting research study with NASA on how light affects the circadian rhythms of astronauts.

According to new research, myopia (near-sightedness) increased from 20% in the 1950s to 80% in 2010 among populations in Asia. Fluorescent lights and conventional LED light sources emit a strong blue light that is known to cause eye fatigue, which may later result in retinal damage. Seoul Semiconductor, together with Toshiba Materials of Japan, has jointly developed SunLike natural spectrum LED technology, which provides lighting conditions most similar to actual sun light and can be seen as a solution that helps to protect human eyes from this potential damage.

Company outlook

The company provided a revenue guidance of KrW 270 to 290 billion for the first quarter of 2018. This figure is in range of 5% to 13% on a year-over-year basis. Although first quarter is normally considered to be an off-season, the company is showing a positive outlook for growth from last year for this 2018 fiscal year.

Sangbum Kim, the company’s Chief Financial Officer, has stated that fiscal year 2017 sales were a result of the company’s relentless efforts to stay ahead of competition by continuously investing in R&D and strengthening global sales organizations. In order to further accelerate revenue growth into the double digit range for 2018, the company plans to further drive sales of differentiated products such as SunLike while also shifting more focus to its rapidly growing automotive lighting business.

About Seoul Semiconductor:

Seoul Semiconductor develops and commercializes light emitting diodes (LEDs) for automotive, general illumination, specialty lighting, and backlighting markets. As the fourth-largest LED manufacturer globally, Seoul Semiconductor holds more than 12,000 patents, offers a wide range of technologies, and mass produces innovative LED products such as SunLike – delivering the world’s best light quality in a next-generation LED enabling human-centric lighting optimized for circadian rhythms; Wicop – a simpler structured package-free LED which provides market leading color uniformity, cost savings at the fixture level with high lumen density and allows design flexibility; NanoDriver Series – World’s Smallest 24W DC LED Drivers; Acrich, the world's first high-voltage AC-driven LED technology developed in 2005, includes all AC LED-related technologies from chip to module and circuit fabrication, as well as multi-junction technology (MJT); and nPola, a new LED product based on GaN-substrate technology that achieves over ten times the output of conventional LEDs. UCD constitutes a high color gamut display which delivers over 90 % NTSC.

For more information about Seoul Semiconductor, please visit http://www.seoulsemicon.com

# Trademarks

Wicop and Acrich are trademarks of Seoul Semiconductor Co., Ltd.

Investor information and additional product details are available on the company website, www.seoulsemiconductor.com

Forward-looking statements:

This press release material contains forward-looking statements which reflect Seoul Semiconductor’s current views with respect to future events and financial performance, which are subject to certain risks and uncertainties which could cause actual results to differ materially from those anticipated. Although Seoul Semiconductor believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can give no assurance that its expectations will be attained. Seoul Semiconductor undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. All financial figures are consolidated unless stated otherwise.

Contact information

Europe
Seoul Semiconductor Europe GmbH
Ariane Heim
Tel: +49 (0)89 450 3690-0
Email: press.eu@seoulsemicon.com
or
North America
Seoul Semiconductor Inc.
David Cox
Tel: +1 (919) 410-9856
Email: David.cox@seoulsemicon.com
or
Asia
Seoul Semiconductor Co., Ltd
Jake Jung
Tel: +82 070.4391.8270
Email: pr@seoulsemicon.com

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

FLIR Introduces Assisted Docking Technology and First Boat Manufacturer Partner22.1.2019 09:00Pressemelding

FLIR Systems, Inc. (NASDAQ: FLIR) today announced the Raymarine DockSense™ assisted docking system, the marine industry’s first intelligent object recognition and motion sensing assisted docking solution for recreational boating. DockSense system uses FLIR machine vision camera technology and video analytics to integrate intelligence gathered from surrounding imagery with the vessel’s propulsion and steering system to assist boat owners in tight quarter docking maneuvering. Additionally, FLIR announced that Prestige Yachts, a Groupe Beneteau brand, will become the first to demonstrate the technology. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190122005313/en/ Docking a boat can be a stressful experience, even for the most experienced captains. Often wind and tides make the task more difficult, and docking mishaps can become expensive repairs and safety hazards. The DockSense system is designed to augment a captain's boat

BIOCERES and UNION ACQUISITION CORP. announce Bioceres’ unaudited quarterly operating results for the period ended December 31, 201822.1.2019 08:52Pressemelding

Bioceres, a leading Latin American agricultural biotech company (the “Company”), and Union Acquisition Corp. (NYSE: LTN) (“UAC”), a special purpose acquisition company, today announced the Company’s unaudited operating results for the quarter ended December 31, 2018. The parties had previously announced the execution of a definitive share exchange agreement (the “Exchange Agreement”) pursuant to which the Company will contribute its agricultural solutions business in exchange for equity of UAC. The Company reported unaudited revenues of $62.6 million during the quarter ended December 31, 2018, which represents a 33% growth rate over the same period a year ago. The adjustments and the translation mechanism from the application of IAS 29 had a positive impact of $8.7 million during the quarter ended December 31, 2018. Additionally, the Company’s management team expects Gross Profit and EBITDA margin performance to exceed that of the same period a year ago. Members of UAC’s sponsor and, o

Tradeshift Announces Record Year and Exceptional Growth in Every Category Heading Into 201922.1.2019 08:00Pressemelding

Tradeshift, the leader in supply chain payments and marketplaces, today announced results from the fourth quarter of 2018, marking the eleventh quarter in a row of successive growth and beating targets. Tradeshift’s fourth quarter growth stats announced today include: YoY new bookings grew 250 percent New total contract value grew by $59M in Q4 YoY revenue grew 178 percent (trailing 12 months) Gross Merchandise Volume (GMV) more than doubled, growing by 112 percent YoY Tradeshift Go experienced high growth with 12 deals signed in Q4 Signed App partner Transfermate, allowing Tradeshift customers to easily receive and make foreign currency payments Expanded Partner ecosystem with two additional BPO partners signed The company’s customer roster continued strong growth this quarter adding a record 49 new customers, including Charter Hall, HSBC, Econocom and more. “2018 was a record setting operational year for us,” said Christian Lanng, CEO and co-founder of Tradeshift. “It’s been so grati

Bridgestone Europe To Acquire TomTom Telematics For €910 Million Cash Consideration22.1.2019 06:58Pressemelding

Bridgestone Europe NV/SA (“Bridgestone”), a subsidiary of Bridgestone Corporation in EMEA, has entered into an agreement with TomTom to acquire its telematics business, for a cash consideration of €910 million. The transaction will bring together the world’s largest tyre and rubber company with the number one provider of digital fleet solutions in Europe, creating a leading data platform for connected vehicles. TomTom Telematics will accelerate Bridgestone on its journey to becoming a mobility solutions leader in the region, and the combination of both companies’ offerings will allow Bridgestone to cross-sell tyres and solutions to a larger customer base. Furthermore, the data access will enhance Bridgestone’s virtual tyre development and testing as well as connected tyre innovation benefiting all customers including OEMs. New social, economic and technological megatrends are pushing the pace of change in the automotive industry and the future of vehicles is connected, autonomous, shar

Ferring, Rebiotix and Karolinska Institutet Extend Collaboration to Research Next Generation of Microbiome Treatments22.1.2019 06:00Pressemelding

Ferring Pharmaceuticals and Karolinska Institutet announced today a five-year extension of their collaboration to explore the potential of the human microbiome in reproductive medicine and women’s health and gastroenterology. The collaboration brings together specialist expertise from Karolinska Institutet in early stage research, Rebiotix Inc. (acquired by Ferring in 2018), a late-stage clinical microbiome company, and Ferring’s therapeutic area and commercialisation capabilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190121005428/en/ The extension includes six reproductive health clinical studies of approximately 6,000 women and babies and four gastroenterology studies of approximately 3,000 adults and children, to further investigate the role of the microbiome in areas of high unmet need including recurrent pregnancy loss, preterm birth and inflammatory bowel disease. “The extension of this partnership presents a

GA Telesis Board Appoints Norman Liu as an Independent Director22.1.2019 06:00Pressemelding

GA Telesis, LLC, a leading global commercial aviation integrated services provider, announces that its Board of Directors will appoint Norman C.T. Liu as an Independent Board Member effective February 1, 2019. Norm brings over 35 years of experience in aviation financing, infrastructure investing and investment banking. He is the former Chairman, President and CEO of GE Capital Aviation Services (“GECAS"), a world leader in commercial aircraft leasing and financing. He retired from GE at the end of 2016 after 30 years of service and is currently a senior advisor to various companies in the infrastructure and aviation sectors. He was an Advanced Leadership Fellow at Harvard in 2017 and also serves as an Adjunct Professor at University College Dublin in Ireland. He received his bachelor’s degree from Yale University and his MBA from Harvard Business School. “We are pleased that Norm will be joining our Board to participate in the explosive growth of our franchise,” said Abdol Moabery, Pr