Samsung SDI swings to black in Q1

SEOUL, April 28 (Yonhap) -- Samsung SDI Co., a South Korean maker of plasma
display panels (PDPs), said Tuesday that it swung back to the black in the first
quarter thanks to special income from equity investment.
Net profit reached 57.6 billion won (US$42.4 million) in the January-March
period, compared with a loss of 30.6 billion won a year earlier, the company said
in a regulatory filing.
Sales dropped 7 percent on-year to 1.02 trillion won, and operating loss reached
76 billion won, it said.
Shares of Samsung SDI were trading at 84,800 won on the Seoul bourse as of 2:30
p.m., down 1.97 percent from the previous session.
Samsung SDI, a unit of South Korea's top conglomerate Samsung Group, attributed
the turnaround to earnings from its stake in a joint venture with Samsung
Electronics Co.
The two companies set up a 50-50 joint venture last September, named Samsung
Mobile Display Co., to cooperate in the development of displays used in handsets
and small televisions.
The global recession caused lower demand for its batteries for hybrid cars, said
Samsung SDI, which is shifting its focus to rechargeable batteries from the
display-making business.
ygkim@yna.co.kr
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