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Samsung Electronics Releases Q4 Earnings
Jan 16, 2004
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Samsung Electronics has announced its revenue and income results for the fourth quarter. Revenue reached 12.89 trillion won (approx. U.S. $10.9 million), while operating income and net income were 2.63 trillion won and 1.86 trillion won, respectively, for the quarter.

The company said revenue and operating income for the fourth quarter were both new records. Revenue was up 14.4 percent from the previous quarter, and operating income increased 20.8 percent from the previous record, which was set in the third quarter of 2000.

Quarter on quarter, operating income and the net income increased by 27.9 and 1.1 percent, respectively. The figures also represent significantly improved year-on-year performance. Operating income surged 63.4 percent from the fourth quarter of 2002, while revenue and net income also improved by 21.7 and 24 percent, respectively, year on year.

The fiscal year 2003 totals were 43.58 trillion won in revenue, 7.19 trillion won in operating income, and 5.96 trillion won in net income. Along with the record-breaking revenue, operating income and net income were outstanding, with both approaching records set in 2000 and 2002, the electronics company reported.

Revenues for each of Samsung Electronics' four main business units -- the Device Solution (DS) Network, Telecommunication (TN) Network, Digital Media (DM) Network, and Digital Appliance Network -- all increased quarter on quarter by 23.3 percent, 5.4 percent, 14 percent, and 11.2 percent, respectively.

The memory and TFT-LCD divisions turned in particularly notable performances. Explosive growth in flash memory demand fueled an 18-percent quarterly increase in revenue for the Memory Division to reach 3.02 trillion won. The performance for the TFT-LCD division was even more impressive with a 42 percent quarter-on-quarter growth in revenue to total 1.96 trillion won. The combined operating income for the Device Solution Network business, which includes the Memory, TFT-LCD, and System LSI Divisions, exceeded 2.02 trillion won for the first time. The operating margin was at 34.5 percent.

In the Telecommunication Network Business, the company said robust demand for high-end handsets with camera and camcorder capabilities drove revenue to a new quarterly record of 3.9 trillion won. The number of units shipped in the fourth quarter, 16 million, was also a new record. Operating margin was 18.5 percent.

The company said that relatively weak performance of the Digital Media business is expected to improve as demand for flat-panel, high-definition, and digital TVs starts to gain momentum.

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