LG.Philips Q4 Sales Off 9%
By Jeff Malester -- TWICE, 1/24/2005
Seoul, South Korea — Decreases in LCD panel prices translated to a 9 percent drop in fourth-quarter revenue for LG.Philips LCD, a maker of TFT-LCD panels.
Sales totaled $1.9 billion for the three months, down from $2.1 billion in the fourth quarter of 2003.
The effect of the overall decrease in panel prices was offset by an increase in the volume of panels for notebooks, desktop monitors and TVs, resulting from increased production capacity.
TFT-LCD panels for desktop monitors, notebook computers, TVs and applications accounted for 53 percent, 27 percent, 15 percent and 5 percent, respectively, on a revenue basis in the fourth quarter. This compares with 55 percent, 27 percent, 14 percent and 4 percent, respectively, on a revenue basis in the third quarter of 2004.
LG.Philips net income in the fourth quarter, ending Dec. 31, dropped to $34 million, down from $526 million in the same three months a year earlier.
The company, which said it remains committed to the LCD-TV segment, posted 12-month revenue of $8 billion, an increase of 37 percent over the $5.9 billion recorded in the year-ago period. The company believes there will be strong growth in consumer demand for flat-screen TVs.
Net income for the 12 months reached $1.6 billion, a 62 percent rise over the $984 million reported in the same period in 2003.
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