Samsung Electro-Mechanics' net profit plunges 57 pct in 2008

SEOUL, Jan. 21 (Yonhap) -- Samsung Electro-Mechanics Co., a South Korean
electronics parts maker, said Wednesday its 2008 net profit nosedived 57.4
percent from a year ago as fierce competition squeezed margins.

The company earned 48 billion won (US$35 million) last year, compared with a
profit of 113 billion won a year earlier, Samsung Electro-Mechanics said in a
regulatory filing.
Operating profit fell 4.6 percent to 84.4 billion won, while sales rose 15.2
percent to 3.99 trillion won.
In a separate filing, the company said it plans to pay a final 2008 dividend of
250 won per common share and 300 won for each preferred share.
(END)