UPDATED. 2020-09-25 07:27 (금)
Philoptics posts 2 straight quarters of profit 
Philoptics posts 2 straight quarters of profit 
  • Gijong Lee
  • 승인 2020.08.12 00:03
  • 댓글 0
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Its 1st half performance stands at 11.4 billion won in operating profits
Image: Philoptics
Image: Philoptics

Laser equipment firm Philoptics have posted two straight quarters of profits as of the second quarter of 2020.

The company posted 7.6 billion won in operating profits and sales of 67.9 billion won in the second quarter, the company said on Tuesday. It is a return to profit and an increase of 278%, respectively, from the same time period a year ago.

Its first half performance stands at 11.4 billion won in operating profits and 119.3 billion won in sales. It is a return to profit and increase of 76.3% from the same time period in 2019.

Philoptics CEO Han Ki-su has said in the company’s shareholders’ meeting on March that the company will return to the black this year.

The company posted 14 billion won in annual operating loss in 2019.

Philoptics saw more orders this year, including a 100 billion won deal with a single vendor. It has 132 billion won in remaining orders, in which 55% is for OLED equipment and 42% are for lithium-ion battery equipment. The company said it expects more equipment for batteries to be ordered going forward.

Meanwhile, Philoptics is part of national project to develop fine metal masks used in OLED production.

The company has separated its battery equipment business into a separate company called Philenergy in April. The subsidiary posted 1.6 billion won in operating profit and 10.7 billion won in sales in the second quarter.

A Philoptics spokesperson said despite the COVID-19 pandemic, the company has seen its key equipment shipment increase and years-long cost cutting effort has helped it turn a profit in 2020. It expected more orders going forward, they added.


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