LG Innotek posts net loss in Q4
Published : 2014-01-27 14:36
Updated : 2014-01-27 14:36
LG Innotek Co., an electronics parts maker affiliated with South Korea's LG Group, said Monday it posted a net loss in the fourth quarter despite improved operating profits.
Net loss came to 12.5 billion won ($11.6 million) in the October-December period, improving from the net loss of 30.5 billion won posted a year earlier, LG Innotek said in a regulatory filing.
Revenue edged down 5.1 percent on-year to 1.54 trillion won in the fourth quarter, while operating profit came to 28.8 billion won, soaring from the 6.3 billion won posted a year earlier.
For all of 2013, LG Innotek posted a net profit of 15.5 billion won, with its revenue advancing 16.8 percent to 6.2 trillion won and operating profit rising 76.1 percent to 136.1 billion won.
LG Innotek attributed the yearly growth to the improved performance of its camera module and touch screen sectors. (Yonhap News)