Seoul Semiconductor Reports Fourth Quarter and Fiscal Year 2018 Results
ANSAN, South Korea--(BUSINESS WIRE)--Jan 30, 2019--Seoul Semiconductor Co., Ltd. (KOSDAQ 046890), a leading global innovator of LED products and technology, today announced 2018 fiscal year consolidated revenue of KRW 1194.2 billion, operating profit of KRW 99 billion, and net income of KRW 65.4 billion to report two year consecutive sales growth.
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Financial Results of Seoul Semiconductor (Graphic: Business Wire)
As a result of stabilization of Seoul Semiconductor’s new manufacturing plant in Vietnam and improved product mix, the consolidated fourth quarter revenue increased by 6% year-over-year (YoY) to KRW 300.6 billion, while operating profit amounted to KRW 36.2 billion exceeding market consensus of KRW 28.9 billion, rising 79% YoY.
The rise in revenue was due to an increase in global TV customer demand of its differentiated technology WICOP, an innovative product line of package-less LEDs. For automotive headlamp lighting, its revenue achieved strong double-digit growth as Seoul Semiconductor actively responded to the customer needs for high power and reliability by delivering advanced technology nPola which delivers more than ten times the output of conventional LEDs.
Seoul Semiconductor expect to achieve sales of KRW 280 billion to 300 billion for this first-quarter suggesting YoY growth to continue through stable operation of its four manufacturing sites in Korea, China, Vietnam and US. Seoul expects further process innovation, production of new technology products and stabilization of its new plant to deliver superior cost advantage and pricing competitiveness leading to further rise of sales and profits for the year.
Seoul Semiconductor’s production lines are already set up to start to manufacture its new high value-added technologies such as IR (Infrared) LEDs and VCSEL (Vertical Cavity Surface Emitting Laser) which can be used for iris scan, facial recognition and autonomous driving.
Seoul Semiconductor looks forward to soon introducing its innovative offering of Micro LED products to drive next-generation display market and contribute to the future sales and profit. It also plans to expand its customer base by launching LED Drivers with Acrich technology.
“Seoul Semiconductor achieved outstanding revenue growth despite the intensifying competition and market reversing to negative growth last year. Our growth was possible due to constantly focusing on R&D even during difficult times and strengthened its global sales network. We will continue to create value for customers and shareholders by delivering growth as a leading global provider of LED solutions,” said Ki Bum Nam, sales and marketing vice president of Seoul Semiconductor.
About Seoul Semiconductor Seoul Semiconductor develops and commercializes LEDs for automotive, general illumination, specialty lighting, and backlighting markets. As the second-largest LED manufacturer globally excluding the captive market, 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, 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. For more information, please visit www.seoulsemicon.com/en.
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CONTACT: Seoul Semiconductor Inc.
KEYWORD: ASIA PACIFIC SOUTH KOREA
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS HARDWARE SEMICONDUCTOR MANUFACTURING OTHER MANUFACTURING AUTOMOTIVE AFTERMARKET
SOURCE: Seoul Semiconductor
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PUB: 01/30/2019 02:07 AM/DISC: 01/30/2019 02:07 AM