Business Wire

Seoul Semiconductor Achieves 290 Billion KRW Revenues for Second Quarter 2018 and 45 Billion KRW in EBITDA

Del

Seoul Semiconductor Co., Ltd. (KOSDAQ:046890), a market leader in LED design and manufacturing, today announced consolidated second-quarter revenues of 290 billion KRW meeting its guided range of 280 ~ 300 billion KRW. Operating income recorded 18 billion KRW and EBITDA recorded 45 billion KRW.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180727005109/en/

Seoul Semiconductor Co., Ltd. (KOSDAQ 046890), a market leader in LED design and manufacturing, achi ...

Seoul Semiconductor Co., Ltd. (KOSDAQ 046890), a market leader in LED design and manufacturing, achieved 290 billion KRW revenues for second quarter 2018 and 45 billion KRW in EBITDA. Sales continued to grow YoY despite of low season and provided guidance of 300 billion to 320 billion KRW range for the upcoming third-quarter. (Graphic: Business Wire)

During the second-quarter, TV division sales rose significantly YoY and is expected to maintain growth in the third-quarter. Mobile division sales is also expected to rise significantly in the upcoming third and fourth quarter leading to continued growth of sales for its IT division maintaining its high growth rate since 2017.

Automotive lighting sales also showed strong growth across all regions. The company’s promotion of its package less WICOP for automotive headlamp application gained further traction resulting in foreign car makers adapting its technology for cars scheduled to be mass produced in next year and in 2021.

Operating profit margin recorded 6% for the second-quarter. The company expects ramp up from its new manufacturing plant in Vietnam to gain further stability leading to higher utilization rate in the third-quarter to meet high season demand and lead to improved profitability.

Seoul provided sales guidance of 300 to 320 billion KRW for the upcoming third-quarter maintaining its QoQ and YoY growth.

Sangbum Kim, Chief Financial Officer, has stated that the company was able to achieve sales growth in this quarter despite of low seasonality and this trend is expected to continue throughout the remainder of the year as we witness sales of differentiated products such as the SunLike, Wicop and Acrich lead to improved utilization and Vietnam plant contribute to higher utilization once fully set up, once again challenging to beat last year’s record sales.

About Seoul Semiconductor

Seoul Semiconductor develops and commercializes 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 and cost savings at the fixture level, providing high lumen density and design flexibility; NanoDriver Series – the world’s smallest 24W DC LED drivers; Acrich, the world's first high-voltage AC-driven LED technology developed in 2005, including 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 more than ten times the output of conventional LEDs. UCD constitutes a high color gamut display which delivers more than 90% NTSC. To learn more, visit www.seoulsemicon.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

Seoul Semiconductor Co., Ltd.
Jeonghee Kim, +82-10-4843-6303
jeonghee.kim@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

ISACA Announces 2019 Slate of Events for Business Technology Professionals Around the Globe During its 50th Anniversary Year17.1.2019 19:24Pressemelding

ISACA, a global association serving technology audit, assurance, governance and cybersecurity professionals, celebrating its 50th anniversary in 2019, announced its annual event schedule, which includes learning opportunities focused on emerging technologies, innovation, best practices and professional development. Disruptive technologies over the last 50 years and in the future of business enterprise, and the evolution of technology careers and ISACA professions, will be featured in conjunction with the ISACA anniversary year at nearly every venue. ISACA’s growing Cybersecurity Solution Portfolio, including the CSX Training Platform and the CMMI Cybermaturity Platform, will be highlighted in new conferences in 2019, which will include events in North America and Europe. The 2019 CACS conferences, set for North America, Europe, Asia, Africa, the Oceania region and Latin America, will offer educational sessions in audit and assurance, big data, risk management, governance and more. All

HighLife Closes a €32 Million Round B Financing17.1.2019 17:25Pressemelding

HighLife SAS, a medtech company focused on the development of a unique transcatheter mitral valve replacement (“TMVR”) system to treat patients suffering from mitral regurgitation, announced today it had closed a €32 million round of equity financing. Proceeds from the financing will be used to complete the development of the company’s transcatheter transseptal mitral valve implantation program, which includes regulatory approval trials in Europe to obtain the CE mark and a first clinical trial in the U.S. via an Early Feasibility Study (EFS). The Series B round was co-led by U.S. Venture Partners (“USVP”) and Andera Partners, with Sectoral Asset Management and Jose Calle Gordo, Chairman of the company, joining the round. Sofinnova Partners, which led the Series A round, continues to support the company and participated in this latest round of financing. Bryan Garnier & Co (Paris) acted as private placement agent for this financing. “I am very pleased to announce the closing of the Ser

The Brightline™ Initiative, led by Project Management Institute, to Support The Economist Davos Panel17.1.2019 15:00Pressemelding

The Brightline™ Initiative, a coalition dedicated to helping executives bridge the gap between strategy design and delivery, along with Project Management Institute is hosting The Economist Events panel discussion entitled “Humans 2.0: Designing and Implementing a Future Proof Strategy.” In line with Davos’ overarching theme, “Globalization 4.0: Shaping a Global Architecture in the Age of the Fourth Industrial Revolution,” panelists will discuss how business leaders can harness the power of people to adapt and implement corporate strategies and grapple with the effects of disruptive technologies. This topic is of particular interest to PMI, the leading member of Brightline, given how this wave of disruption calls for organizations to rely on successful implementation of new strategies at unprecedented scope and speed to meet market demands. “As a coalition committed to moving from idea to strategy implementation to results, we’re delighted to partner with The Economist Events to bring

MSCI Schedules Investor Conference Call to Review Fourth Quarter and Full Year 2018 Results17.1.2019 14:00Pressemelding

MSCI Inc. (NYSE:MSCI), a leading provider of indexes and portfolio construction and risk management tools and services for global investors, today announced it will release its results for the fourth quarter and full year 2018 on Thursday, January 31, 2019. MSCI's senior management will review the fourth quarter and full year 2018 results on Thursday, January 31, 2019 at 11:00 AM Eastern Time. To listen to the live event, visit the events and presentations section of MSCI's Investor Relations homepage, http://ir.msci.com/events.cfm, or dial 1-877-376-9931 conference ID: 3474708 within the United States. International callers dial 1-720-405-2251 conference ID: 3474708. The earnings release and related investor presentation used during the conference call will be made available on MSCI's Investor Relations homepage. An audio recording of the conference call will be available on our Investor Relations website, http://ir.msci.com/events.cfm, beginning approximately two hours after the conc

FedEx Trade Networks Rebrands as FedEx Logistics17.1.2019 14:00Pressemelding

FedEx Corp. (NYSE:FDX) announced today that FedEx Trade Networks, Inc. is being rebranded as FedEx Logistics. The new name describes the company’s ability to meet its customers’ increasingly complex and industry-specific supply chain, transportation, value-added services, and brokerage needs. FedEx Logistics provides specialty solutions that complete a simple, seamless and powerful global trade experience for FedEx customers around the world. “We’re adding tremendous value by bringing all of the specialty services we offer under the FedEx Logistics banner,” said Richard W. Smith, president & CEO of FedEx Logistics. “The global solutions we offer are dynamic and customizable, and the experience for our customers is more streamlined, more efficient and better represented as a collective competitive offering as FedEx Logistics. Our simplified customer interface and comprehensive ability to meet every logistics need will have a profound effect for FedEx customers, our team members, and on

SailPoint Names Andrew Kahl as Chief Customer Officer17.1.2019 14:00Pressemelding

SailPoint Technologies Holdings, Inc. (NYSE: SAIL), the leader in enterprise identity governance, today announced the appointment of Andrew Kahl to the role of Chief Customer Officer. In this role, Andrew will be responsible for driving the integrated customer experience for every SailPoint customer while continuing to enable and scale SailPoint’s growing post-sale partner community. He will also oversee SailPoint’s customer success, professional services and support teams, globally. “This appointment underscores our fierce commitment to our customers’ successful journey with SailPoint and is a critical step as we look to scale to thousands of customers. In his role, Andrew will help us to maintain our relentless focus on driving the best-in-class customer experience our customers have come to expect from SailPoint,” said Mark McClain, CEO and Co-Founder of SailPoint. “Customer success is in our lifeblood as an organization and I am confident that Andrew will make that his continued ch