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Samsung Electro-Mechanics Q4 net profit down 60.2 pct to 48.1 bln won

SEOUL, Samsung Electro-Mechanics Co. on Wednesday reported its fourth-quarter net income of 48.1 billion won (US$36 million), down 60.2 percent from a year earlier.

The company said in a regulatory filing that operating profit for the October-Decemb…

SEOUL, Samsung Electro-Mechanics Co. on Wednesday reported its fourth-quarter net income of 48.1 billion won (US$36 million), down 60.2 percent from a year earlier. The company said in a regulatory filing that operating profit for the October-December period rose 9.1 percent on-year to 110.4 billion won. Sales increased 17.2 percent to 2.3 trillion won. The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 88.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency