Seoul Viosys saw sales of its ultraviolet (UV) LED sales increase 93% year over year in the second quarter, the company said on Friday.
Its quarterly sales also exceeded 100 billion won for the first time in the quarter.
The company posted 6 billion won in operating profits and 103.2 billion won in sales in the second quarter, a decline of 22% and rise of 15%, respectively, from a year prior.
Its first half earnings stand at 8.6 billion won in operating profit and 190.1 billion won in sales.
Sales from UV LED grew 93% year over year and 102% compared to the previous quarter, the company said. The high sales helped its quarterly revenue in the traditionally off-season quarter, Seoul Viosys said.
It has supplied its Violeds-branded UV LED to companies in China, including auto-component maker Yangfeng, home appliance makers Haier and Hisense as well as AC maker Gree.
High value products saw expanded sales in the quarter and its US subsidiary SETi and Vietnam operation saw profitability improve, the company said.
Operating margin rate stood at 5.8% for the quarter. It is a decline from its rate a year ago which was 8.6%. Seoul Viosys has said earlier in March that it will reduce research spending to increase margin rate. Its research spending accounted for 9% of its sales for the second quarter. Marketing cost for UV for the quarter was 16.5 billion won, an 11% increase from a year prior.
