LG.Philips LCD posts smaller-than-expected Q1 loss
SEOUL, April 10 (Reuters) - South Korean flat screen maker LG.Philips LCD Co. Ltd. (034220.KS) reported on Tuesday its fourth straight quarterly loss as panel prices extended their fall in the seasonally slow first quarter.
LG.Philips (LPL.N), the world's No.2 maker of large liquid crystal display (LCD) panels, reported a 169 billion won ($181.3 million) net loss in the quarter ended in March, compared with a 47.5 billion won profit in the same period a year earlier.
The result was better than a 235 billion won net loss forecast by Reuters Estimates.
The company, which competes with home rival Samsung Electronics Co. (005930.KS) and Taiwan's AU Optronics Corp. (2409.TW), has struggled with heavy costs and falling prices of large TV panels.
Analysts said LG.Philips should turn profitable around the third quarter, with demand for sleek flat-panel televisions picking up later in the year and as makers limit new investment.
Shares in LG.Philips, which has a market value of about $13 billion, jumped 18 percent in the first quarter on expectations for a sector recovery, versus a 1.3 percent gain in the KOSPI .
