LG Display swings to profit, beating estimates

By January 20, 2010Newswires

LG Display swings to profit, beating estimates

LOS ANGELES (MarketWatch) — LG Display Co. reported late Wednesday a forecast-beating fourth-quarter profit and record shipments, with the world`s second-largest maker of LCD panels saying strong marketing helped its results.

Seoul-based LG Display said its net profit for the quarter rose to 478 billion won ($420 million), reversing from a year-earlier loss of 684 billion won, though slipping from the third quarter`s 559 billion won profit.

The results beat analysts` average expectation for a net income of 275 billion won, according to a Dow Jones Newswires survey.

Sales for the period hit 6.08 trillion won, up 46% from the year-earlier quarter and 2% above the sales recorded in the July-September period.

Read the whole story here: http://www.marketwatch.com/story/lg-dis … 2010-01-20

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