[Announcement+] LIS Reports Operating Profit of 4.4 Billion KRW in Q1, Up 332% YoY

[Asia Economy Reporter Eunmo Koo] Laser application equipment specialist LIS recorded strong first-quarter results, boosted by the resumption of organic light-emitting diode (OLED) investments in China.

LIS announced on the 13th through a public disclosure that its consolidated operating profit for the first quarter of this year reached 4.4 billion KRW, a 332% increase compared to the same period last year. During the same period, sales also rose 130% to 52.7 billion KRW, and net profit surged 1995% to 8.5 billion KRW.

The strong performance of LIS is attributed to the benefits from the resumed OLED investments in China since the second half of last year and continuous improvements in profitability.

An LIS official explained, "Despite the uncertain environment caused by COVID-19, we recorded solid results in key management indicators such as operating profit. As Chinese display companies resumed investments in OLED, demand for our laser equipment increased, and our ongoing efforts to reduce costs have borne fruit."

LIS has been supplying cutting equipment, used for OLED manufacturing, to multiple major Chinese display companies. A company representative stated, "Currently, LIS’s actual order backlog exceeds 100 billion KRW, and with continued OLED investments in China, orders are steadily being placed, so the order backlog is expected to grow further."

This content was produced with the assistance of AI translation services.