LG Innotek (CEO Ung-Beom Lee) said on October 25 that it posted 26.2 billion won in operating profit on 1.2199 trillion won in sales based on the International Financial Reporting Standards (IFRS) in the third quarter. The Company has thus remained in the black for three consecutive quarters.

In the third quarter, the Company saw its sales fall 1.3 percent from the previous quarter, but its operating profit gain 37.4 percent. The sales gained 14.3 percent year on year, and the operating balance turned to a surplus from minus 5.4 billion won in the same period of last year.

On its third quarter performance, LG Innotek said, “The Company was able to post good performance, because sales in LED BLU (Back Light Unit) and lighting sectors increased, while sales of Build-up PCB (Printed Circuit Board) and Touch Window which are smartphone parts, continued growth.”

On its fourth quarter earnings outlook, LG Innotek said, “The fourth quarter is a low demand season for parts suppliers, and uncertain market conditions including recent drops in exchange rate are expected. But LG Innotek will proactively work with major client companies’ new models, while staging enterprise-wise cost cutting campaigns to continue to strengthen our business competiveness.”