Seoul Viosys Records Historical High First Quarter Earnings
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- Achieved the historical highest first quarter sales at KRW 120 billion amid low seasonality
- New sales recognized from the 2nd generation leading technology products such as Micro LED and VCSEL
- Expected to grow up to double digits in sales this year as sound growth trend continues
ANSAN, South Korea--(BUSINESS WIRE)-- Seoul Viosys Co., Ltd. (“Seoul”) (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).
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210406005482/en/
Seoul Viosys’ 2nd generation leading technologies (Graphic: Business Wire)
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 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.
About Seoul Viosys
Seoul Viosys is a full-line solution provider for UV LED, VCSEL (Vertical Cavity Surface Emitting Laser), the next-generation light source for 3D sensor and laser, and a single-pixel RGB “Micro Clean Pixel” for displays. Established in 2002 as a subsidiary of Seoul Semiconductor, it captured the No. 1 market share in the UV LED industry (LEDinside, 2018). Seoul Viosys has an extensive UV LED portfolio with all wavelengths range (200nm to 1600nm) including ultraviolet rays (UV), visible rays and infrared rays. It holds more than 4,000 patents related to UV LED technology. Violeds, its flagship UV LED technology, provides a wide range of industries with optimal solutions for strong sterilization and disinfection (UVC), skin regeneration (UVB), water/air purification and effective cultivation for horticulture. In 2018, Seoul Viosys acquired RayCan, a leading optoelectronic specialist, to add the advanced VCSEL technology which supports smartphone facial recognition and autonomous driving, and has started its mass production. In January 2020, it introduced a disruptive “Micro Clean Pixel” that has the potential to be a game-changer in the display market. To learn more, visit http://www.seoulviosys.com/en/.
For Seoul Viosys
Seoul Semiconductor Co., Ltd.
Source: Seoul Viosys Co., Ltd.
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