LG Dacom posts 3.2 pct rise in Q3 earnings

(ATTN: ADDS closing share price in para 4)
By Lee Youkyung
SEOUL, Oct. 20 (Yonhap) -- LG Dacom Corp., South Korea's No. 2 fixed-line
carrier, said Tuesday that its third-quarter earnings rose 3.2 percent from a
year earlier on strong Internet-based business.
Net profit stood at 42.4 billion won (US$36 million) in the July-September
period, compared with 41.1 billion won a year earlier, the company said in a
regulatory filing. Its bottom line, however, fell 7.4 percent on-quarter.
Sales rose 17.2 percent on-year to a quarterly record of 480.9 billion won, with
operating profit gaining 2.6 percent to 58.8 billion won, the company said.
Shares of LG Dacom closed at 18,900 won on the Seoul bourse, down 1.31 percent
from Monday's close. The broader Korea Composite Stock Price Index (KOSPI)
benchmark finished up 0.61 percent.
The rise in Q3 earnings was attributed to the growth in Internet-based telephone
and Internet-protocol television (IPTV) services, as well as its online business
units.
LG Dacom said its Internet-based services division saw the largest annual
increase in revenues among its business segments, with sales from Internet phone
services and IPTV soaring 76 percent.
LG Dacom is the country's No. 1 provider of Internet telephone service and No. 2
in IPTV by subscribers, according to the company.
ylee@yna.co.kr
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