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Seoul Viosys Records Historical High First Quarter Earnings
Seoul Viosys Co., Ltd. (KOSDAQ 092190), a leading global compound semiconductor provider, today announced that despite low seasonality, it achieved the highest first quarter sales of all time (preliminary sales announcement).
Published by LED professional ·
In the first quarter, sales increased by 39% year-on-year to KRW 121.2 billion. In particular, sales of the UV division, which benefited from the surge in antibacterial and antiviral home appliance demand after the pandemic, doubled year-on-year, leading the strong performance.
Seoul Viosys’ second generation leading technology, Micro LED contributed to new sales growth while 25 gigabytes (Gbps) laser diode VCSEL for short-distance communication began to be supplied to three customers.
“The restructuring of the LED industry is nearing its end. Not only competitors even in North America and Europe, but also mid-sized competitors in Japan, Korea, Taiwan and China are facing severe management difficulties. This has provided a lucrative positioning for Seoul Viosys to lead the industry with its differentiated second generation technologies to achieve sustainable growth. This year, we expect historical high sales as high-end WICOP sales are steadily increasing as well,” said an official of Seoul Viosys.
Seoul Viosys decided to buy back KRW 10 billion worth of shares on March 19 to enhance shareholder value. The company also raised the dividend payout ratio at the annual general meeting for 2020 profits from 25% to 50% (of net income attributable to controlling asset) and announced to keep it for more than 3 years to increase shareholder return.
Seoul Viosys newly decided to disclose its provisional quarterly consolidated financial statements (sales) from 2021 to strengthen shareholder communication.
Detailed earnings are expected to be announced through the provisional 1Q earnings disclosure towards the end of this month.
http://www.seoulviosys.com/en/
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