MIRA INFORM REPORT

 

 

Report Date :

15.10.2011

 

IDENTIFICATION DETAILS

 

Name :

LG HAUSYS, LTD.

 

 

Registered Office :

LG Twin Towers 20, Yeouido-Dong Yeongdeungpo-Gu Seoul, 150-721 Korea

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

02.04.2009

 

 

Legal Form :

Public Independent Company

 

 

Line of Business :

Manufacture of veneer sheets; manufacture of plywood, laminboard, particle board, fibre board and other panels and boards

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

South Korea

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name and address

 

Top of Form

Bottom of Form

Top of Form

LG HAUSYS, LTD.

                                                                                                                                                  

 

LG Twin Towers

20, Yeouido-Dong

Yeongdeungpo-Gu

Seoul, 150-721

Korea, Republic of

 

 

Tel:

82-2-37771114

Fax:

82 (2) 3773 7040

 

www.lghausys.co.kr

 

Employees:

2,723

Company Type:

Public Independent

Traded:

Korea Stock Exchange:

108670

Incorporation Date:

02-Apr-2009

Auditor:

PricewaterhouseCoopers LLP

Financials in:

USD (mil)

 

 

Fiscal Year End:

31-Dec-2010

Reporting Currency:

South Korean Won

Annual Sales:

1,939.0  1

Net Income:

35.3

Total Assets:

1,339.1  2

Market Value:

601.4

 

(09-Sep-2011)

 

Business Description       

 

 

LG HAUSYS,LTD. is a Korea-based company principally engaged in the construction material manufacturing business. The Company was established through spin-off of industrial material segment from LG Chem Ltd. The Company operates in two business segments: construction material segment, and highly functional material and component segment. Its Construction Material segment manufactures and sells polyvinyl chloride (PVC) windows, aluminum windows, functional glasses, flooring materials, wallpapers and artificial marble products. Its Highly Functional Material and Component segment manufactures and sells gloss sheet products, decoration sheet products and functional adhesive materials, as well as automotive components, among others. For the three months ended 31 March 2011, LG HAUSYS LTD's revenues increased 1% to W548.44B. The Company's net income applicable to common stock from continuing operations decreased 24% to W9.59B. Revenues reflect increased sales generated in highly functional material and component segment. Net income was offset by decreased interest income and increased loss on foreign currency translation.

          

Industry

 

                                                                                                                                                                                            

 

Industry

Construction - Supplies and Fixtures

ANZSIC 2006:

1411 - Log Sawmilling

NACE 2002:

2020 - Manufacture of veneer sheets; manufacture of plywood, laminboard, particle board, fibre board and other panels and boards

NAICS 2002:

321911 - Wood Window and Door Manufacturing

UK SIC 2003:

2020 - Manufacture of veneer sheets; manufacture of plywood, laminboard, particle board, fibre board and other panels and boards

US SIC 1987:

2431 - Millwork

 

 

 

Key Executives           

                    

 

Name

Title

Myeong Ho Han

Chief Executive Officer, Director

Hong Gi Kim

Chief Financial Officer, Director

Jun Ho Cho

Chairman of the Board

Myeong Hwan Kim

Non-Executive Independent Director

Bong Su Kim

Director

 

 

Significant Developments

    

 

Topic

#*

Most Recent Headline

Date

Expansion / New Markets / New Units

1

LG HAUSYS, LTD. Signs MOU with Jiangsu Province in China

24-Feb-2011

Dividends

1

LG HAUSYS, LTD. Declares Annual Cash Dividend for FY 2010

27-Jan-2011

* number of significant developments within the last 12 months

 

     

News

       

 

Title

Date

KOSPI 200 Closing Price List-5
Yonhap News Agency (South Korea) (233 Words)

12-Jul-2011

LG Electronics Redefines Ultimate Kitchen Experience with New Studio SeriesT Line
PR Newswire US (1060 Words)

26-Apr-2011

Sunbrella® Fabrics Featured in the Brooklyn Museum
PR Web (625 Words)

8-Mar-2011

      

Stock Snapshot

        

 

Traded: Korea Stock Exchange: 108670

 

As of 9-Sep-2011

   Financials in: KRW

Recent Price

69,700.00

 

EPS

4,080.72

52 Week High

105,000.00

 

Price/Sales

0.29

52 Week Low

65,500.00

 

Dividend Rate

1,000.00

Avg. Volume (mil)

0.04

 

Price/Earnings

21.30

Market Value (mil)

647,809.50

 

Price/Book

0.91

 

Price % Change

Rel S&P 500%

4 Week

1.16%

0.07%

13 Week

-2.92%

9.60%

52 Week

-29.60%

-30.71%

Year to Date

-20.07%

-9.57%

 

 

1 - Profit & Loss Item Exchange Rate: USD 1 = KRW 1156.282
2 - Balance Sheet Item Exchange Rate: USD 1 = KRW 1134.9

 

 

Corporate Overview

 

Location
LG Twin Towers
20, Yeouido-Dong
Yeongdeungpo-Gu
Seoul, 150-721
Korea, Republic of

 

Tel:

82-2-37771114

Fax:

82 (2) 3773 7040

 

www.lghausys.co.kr

Quote Symbol - Exchange

108670 - Korea Stock Exchange

Sales KRW(mil):

2,242,065.0

Assets KRW(mil):

1,519,693.0

Employees:

2,723

Fiscal Year End:

31-Dec-2010

 

Industry:

Construction - Supplies and Fixtures

Incorporation Date:

02-Apr-2009

Company Type:

Public Independent

Quoted Status:

Quoted

 

Chief Executive Officer, Director:

Myeong Ho Han

 

Company Web Links

Corporate History/Profile

Executives

 

Financial Information

Home Page

 

Investor Relations

Products/Services

Contents

Industry Codes

Business Description

Financial Data

Market Data

Key Corporate Relationships

Industry Codes

 

ANZSIC 2006 Codes:

1332

-

Rope, Cordage and Twine Manufacturing

1522

-

Paper Bag Manufacturing

1411

-

Log Sawmilling

231

-

Motor Vehicle and Motor Vehicle Part Manufacturing

1413

-

Timber Resawing and Dressing

 

NACE 2002 Codes:

2112

-

Manufacture of paper and paperboard

2020

-

Manufacture of veneer sheets; manufacture of plywood, laminboard, particle board, fibre board and other panels and boards

3410

-

Manufacture of motor vehicles

1754

-

Manufacture of other textiles not elsewhere classified

2010

-

Saw milling and planing of wood, impregnation of wood

 

NAICS 2002 Codes:

321911

-

Wood Window and Door Manufacturing

322222

-

Coated and Laminated Paper Manufacturing

336312

-

Gasoline Engine and Engine Parts Manufacturing

321912

-

Cut Stock, Resawing Lumber, and Planing

314999

-

All Other Miscellaneous Textile Product Mills

 

US SIC 1987:

3714

-

Motor Vehicle Parts and Accessories

2672

-

Coated and Laminated Paper, Not Elsewhere Classified

2426

-

Hardwood Dimension and Flooring Mills

2431

-

Millwork

2299

-

Textile goods, Not Elsewhere Classified

 

UK SIC 2003:

2010

-

Saw milling and planing of wood, impregnation of wood

3410

-

Manufacture of motor vehicles

17549

-

Manufacture of other textiles not elsewhere classified

2020

-

Manufacture of veneer sheets; manufacture of plywood, laminboard, particle board, fibre board and other panels and boards

2112

-

Manufacture of paper and paperboard

 

 

Business Description

LG HAUSYS,LTD. is a Korea-based company principally engaged in the construction material manufacturing business. The Company was established through spin-off of industrial material segment from LG Chem Ltd. The Company operates in two business segments: construction material segment, and highly functional material and component segment. Its Construction Material segment manufactures and sells polyvinyl chloride (PVC) windows, aluminum windows, functional glasses, flooring materials, wallpapers and artificial marble products. Its Highly Functional Material and Component segment manufactures and sells gloss sheet products, decoration sheet products and functional adhesive materials, as well as automotive components, among others. For the three months ended 31 March 2011, LG HAUSYS LTD's revenues increased 1% to W548.44B. The Company's net income applicable to common stock from continuing operations decreased 24% to W9.59B. Revenues reflect increased sales generated in highly functional material and component segment. Net income was offset by decreased interest income and increased loss on foreign currency translation.

 

 

More Business Descriptions

Manufacture of construction materials including aluminium and PVC windows, glasses, flooring and artificial marble products

 

 

 

 

 

 

 

 

Financial Data

 

Financials in:

KRW(mil)

 

Revenue:

2,242,065.0

Net Income:

40,806.0

Assets:

1,519,693.0

Long Term Debt:

211,029.0

 

Total Liabilities:

831,405.0

 

Working Capital:

285.0

 

 

 

Date of Financial Data:

31-Dec-2010

 

1 Year Growth

34.9%

54.1%

8.4%

 

 

Market Data

Quote Symbol:

108670

Exchange:

Korea Stock Exchange

Currency:

KRW

Stock Price:

69,700.0

Stock Price Date:

09-09-2011

52 Week Price Change %:

-29.6

Market Value (mil):

647,809,472.0

 

SEDOL:

B55SJJ5

ISIN:

KR7108670001

 

Equity and Dept Distribution:

All financials are consolidated. 06/09 CLA.06/09 RCA.

 

 

 

Key Corporate Relationships

Auditor:

PricewaterhouseCoopers LLP

 

Auditor:

PWC LLP, PricewaterhouseCoopers LLP

 

 

 

 

 

 

 

 

 

 

 

 

Executives Report

 

 

Board of Directors

 

Name

Title

Function

 

Jun Ho Cho

 

Chairman of the Board

Chairman

 

 

Cho Jun Ho has been Chairman of the Board of LG HAUSYS,LTD. since April 1, 2009. Currently, Cho is also Chief Executive Officer, President and Director of LG Corp., and Director of SERVEONE, LG CNS, V-ENS CO.,LTD. and LG Innotek Co., Ltd. Previously, Cho was Chief Financial Officer of LG Corp. Cho received a Master's degree in Marketing from University of Chicago, the United States.


Education

M Marketing, University of Chicago

Myeong Ho Han

 

Chief Executive Officer, Director

Director/Board Member

 

 

 

Han Myeong Ho has been Chief Executive Officer and Director of LG HAUSYS,LTD. since April 1, 2009. Currently, Han is also Director of LG.TOSTEM BM. Previously, Han was Head of the industrial materials business division of LG Chem Ltd. Han received a Bachelor's degree in Chemical Engieering from Hanyang University, Korea and a Master's degree in Business Administration from University of Washington, the United States.


Education

M Business Administration, University of Washington
B Chemical Engineering, Hanyang University

Myeong Hwan Kim

 

Non-Executive Independent Director

Director/Board Member

 

 

 

Kim Myeong Hwan has been Non-Executive Independent Director of LG HAUSYS,LTD. since April 1, 2009. Currently, Kim is also Vice Chairman of a Korea-based company. Previously, Kim was Head of the Seoul region division of Korea National Housing Corporation. Kim received a Bachelor's degree in Architectural Engineering from Seoul National University, Korea.


Education

B Architectural Engineering, Seoul National University

Hyeon Kim

 

Non-Executive Independent Director

Director/Board Member

 

 

 

Kim Hyeon has been Non-Executive Independent Director of LG HAUSYS,LTD. since April 1, 2009. Currently, Kim is also a professor of Korea University. Kim received a Master's degree in Industrial Design from Seoul National University, Korea.


Education

M Industrial Design, Seoul National University

Bong Su Kim

 

Director

Director/Board Member

 

 

 

Kim Bong Su has been Director of LG HAUSYS,LTD. since April 1, 2009. Currently, Kim is also Assistant Managing Director of LG Corp., and Director of LG Household & Health Care, LG Life Sciences, Ltd, LG-DOW Polycarbonate, LG MMA and Coca-Cola Beverage Co. Previously, Kim was Director of AT Kearney. Kim received a Bachelor's degree in Statistics from Yonsei University, Korea and a Master's degree in Business Administration from Michigan University, the United States.


Education

M Business Administration, Michigan University
B Statistics, Yonsei University

Hong Gi Kim

 

Chief Financial Officer, Director

Director/Board Member

 

 

 

Kim Hong Gi has been Chief Financial Officer and Director of LG HAUSYS,LTD. since April 1, 2009. Currently, Kim is also Director of LG.TOSTEM BM and Hausys Eng Co.,LTD. Previously, Kim worked for LG Chem Ltd. Kim received a Master's degree in Business Administration from Seoul National University, Korea.


Education

M Business Administration, Seoul National University

Chan Seok Oh

 

Non-Executive Independent Director

Director/Board Member

 

 

 

Oh Chan Seok has been Non-Executive Independent Director of LG HAUSYS,LTD. since April 1, 2009. Currently, Oh is also a consultant of Ernst & Young Han Young, where Oh had served as President. Oh received a Master's degree in Business Administration from Pusan National University, Korea.


Education

M Business Administration, Pusan National University

Ji Yeong Yoo

 

Director

Director/Board Member

 

 


Education

DS Chemistry, Seoul National University

 

Executives

 

Name

Title

Function

Myeong Ho Han

 

Chief Executive Officer, Director

Chief Executive Officer

 

Han Myeong Ho has been Chief Executive Officer and Director of LG HAUSYS,LTD. since April 1, 2009. Currently, Han is also Director of LG.TOSTEM BM. Previously, Han was Head of the industrial materials business division of LG Chem Ltd. Han received a Bachelor's degree in Chemical Engieering from Hanyang University, Korea and a Master's degree in Business Administration from University of Washington, the United States.


Education

M Business Administration, University of Washington
B Chemical Engineering, Hanyang University

Dong Ho Bae

 

Assistant Managing Director

Managing Director

 

 

 

Bae Dong Ho has been Assistant Managing Director in LG HAUSYS,LTD. since April 1, 2009. Previously, Bae was Head of the AMS business division of LG Chem Ltd. Bae received a Bachelor's degree in Chemical Engineering from Sungkyunkwan University, Korea.


Education

B Chemical Engineering, Sungkyunkwan University

Seok Seung Hong

 

Assistant Managing Director

Managing Director

 

 

 

Hong Seok Seung has been Assistant Managing Director of LG HAUSYS,LTD. since April 1, 2009. Currently, Hong is also Corporate Head of LG HSAI. Previously, Hong worked for LG Chem Ltd. Hong received a Bachelor's degree in International Trade from Sungkyunkwan University, Korea.


Education

B International Trade, Sungkyunkwan University

Jin Hyeong Hwang

 

Assistant Managing Director

Managing Director

 

 

Dong Gwan Hwangbo

 

Assistant Managing Director

Managing Director

 

 

 

Hwangbo Dong Gwan has been Assistant Managing Director of LG HAUSYS,LTD. since April 1, 2009. Previously, Hwangbo was Head of the LS business division of LG Chem Ltd. Hwangbo received a Bachelor's degree in Chemical Engineering from Pusan National University, Korea.


Education

B Chemical Engineering, Pusan National University

Yeong Hwan Jung

 

Assistant Managing Director

Managing Director

 

 

 

Jung Yeong Hwan has been Assistant Managing Director of LG HAUSYS,LTD. since April 1, 2009. Previously, Jung worked for LG Chem Ltd. Jung received a Bachelor's degree in Industrial Chemistry from Kyungpook National University, Korea.


Education

B , Kyungpook National University

Jong Guk Kim

 

Assistant Managing Director

Managing Director

 

 

 

Kim Jong Guk has been Assistant Managing Director of LG HAUSYS,LTD. since April 1, 2009. Previously, Kim worked for LG Chem Ltd. Kim received a Master's degree in Business Administration from University of Ulsan.


Education

M Business Administration, University of Ulsan

Jong Su Lee

 

Assistant Managing Director

Managing Director

 

 

Gyeong Jip Min

 

Assistant Managing Director

Managing Director

 

 

 

Min Gyeong Jip has been Assistant Managing Director of LG HAUSYS,LTD. since April 1, 2009. Previously, Min was Head of the industrial materials research center of LG Chem Ltd. Min received a Doctorate's degree in Chemical Engineering from Rensselaer Polytechnic Institute (RPI), the United States.


Education

PHD Chemical Engineering, Rensselaer Polytechnic Institute

Hyeon Sin Park

 

Assistant Managing Director

Managing Director

 

 

 

Park Hyeon Sin has been Assistant Managing Director of LG HAUSYS,LTD. since April 1, 2009. Currently, Park is also Director of Hausys Eng Co.,LTD. Previously, Park worked for LG Chem Ltd. Park received a Bachelor's degree in Chemistry from Sungkyunkwan University, Korea.


Education

B Chemistry, Sungkyunkwan University

Seung Bae Park

 

Assistant Managing Director

Managing Director

 

 

 

Park Seung Bae has been Assistant Managing Director of LG HAUSYS,LTD. since April 1, 2009. Currently, Park is also Director of LG.TOSTEM BM. Previously, Park was Corporate Head of LG CAI. Park received a Bachelor's degree in International Trade from Pusan National University, Korea.


Education

B International Trade, Pusan National University

Seong Hui Park

 

Assistant Managing Director

Managing Director

 

 

 

Park Seong Hui has been Assistant Managing Director of LG HAUSYS,LTD. since April 1, 2009. Previously, Park worked for LG Chem Ltd. Park received a Master's degree in Visual Design from Pratt Institute, the United States.


Education

M , Pratt Institute

Jong Man Suhk

 

Managing Director

Managing Director

 

 

 

Suhk Jong Man is Managing Director of LG HAUSYS,LTD. Previously, Suhk was Assistant Managing Director in the Company. Suhk worked for LG Chem Ltd. Suhk received a Bachelor's degree in Economics from Yeungnam University, Korea.


Education

B Economics, Yeungnam University

Tae Sun Yoon

 

Assistant Managing Director

Managing Director

 

 

 

Yoon Tae Sun has been Assistant Managing Director of LG HAUSYS,LTD. since April 1, 2009. Previously, Yoon worked for LG Chem Ltd. Yoon received a Master's degree in Maintenance of Indigenous Languages and ( MILR ) from Cornell University, the United States.


Education

M , Cornell University

Hong Gi Kim

 

Chief Financial Officer, Director

Finance Executive

 

 

 

Kim Hong Gi has been Chief Financial Officer and Director of LG HAUSYS,LTD. since April 1, 2009. Currently, Kim is also Director of LG.TOSTEM BM and Hausys Eng Co.,LTD. Previously, Kim worked for LG Chem Ltd. Kim received a Master's degree in Business Administration from Seoul National University, Korea.


Education

M Business Administration, Seoul National University

 

Significant Developments

 

 

 

 

LG HAUSYS, LTD. Signs MOU with Jiangsu Province in China

Feb 24, 2011


LG HAUSYS, LTD. announced that it has signed a memorandum of understanding (MOU) with Jiangsu Province to acquire land measuring 215,000 square meters, to construct its second factory in China.

LG HAUSYS, LTD. Declares Annual Cash Dividend for FY 2010

Jan 27, 2011


LG HAUSYS LTD . announced that its Board of Directors has declared an annual cash dividend of KRW 1,000 per share of common stock and KRW 1,050 per share of preferred stock for the fiscal year 2010 to shareholders of record on December 31, 2010. The dividend rates of market prices are 1.2% (common shares) and 3.5% (preferred shares), respectively. The total cash dividend amount is KRW 10,031,241,950.

 

 

KOSPI 200 Closing Price List-5

                                                                                                                                                                                          

Yonhap News Agency (South Korea)
12 July 2011                                                                                                                                                                   

 

[What follows is the full text of the news story.]

NCsoft 312,500 UP 6,000 MIRAEASSETSEC 47,550 DN 650 DSME 42,600 DN 1,550 DSINFRA 23,350 DN 400 DWEC 12,450 DN 50 DWIC 39,850 UP 400 CJ CheilJedang 242,000 0 SUNG JIN GEOTEC 15,550 UP 50 LGH&H 485,000 UP 5,000 LGCHEM 499,000 DN 10,000 KEPCO E&C 68,100 UP 100 WooriFinance 13,950 DN 250 KPChemicalCorp 23,650 DN 150 LGELECTRONICS 81,800 DN 1,200 LGLS 48,150 UP 350 Huchems 25,100 DN 350 DAEWOONG PHARM 40,000 DN 300 HYUNDAIDEPTST 176,500 DN 6,000 KIH 40,950 DN 900 STX Metal 11,000 DN 350 KUMHOTIRE 18,350 UP 50 STXEngine 26,750 DN 800 GS 88,200 DN 1,800 Daehan Steel 7,940 UP 60 THE BASIC HOUSE 22,700 0 HYUNDAIGLOVIS 177,500 UP 1,500 HANAFINANCIALGR 37,950 DN 850 Korealife 7,900 UP 50 AMOREPACIFIC 1,229,000 UP 7,000 LG FASHION 40,700 UP 1,800 FOOSUNG 8,950 DN 500 SK Innovation 211,500 DN 3,000 POONGSAN 40,950 DN 50 THE HITE 121,000 UP 2,000 KISCO 31,300 UP 300 KBFinancialGroup 54,500 UP 500 LG HAUSYS 78,100 DN 400 L&L 44,350 DN 300 KOLON IND 114,000 UP 2,000 BS Financial Group 15,200 UP 250

(THROUGH ASIA PULSE)

12-07 2011

 

 

LG Electronics Redefines Ultimate Kitchen Experience with New Studio Seriesï Line

Company Debuts Stylish New Kitchen Package with Premium, Professional-Grade Features, Energy Efficiency

 

 

PR Newswire US
26 April 2011

 

 

[What follows is the full text of the news story.]

LAS VEGAS, April 26, 2011 /PRNewswire/ --LG Electronics is reinventing style at home and helping consumers elevate their culinary skills with the chic design and professional-grade features of the new LG Studio Seriesï suite of built-in cooking and counter-depth refrigeration kitchen appliances.

LG's new suite of premium appliances brings together ranges, wall ovens, warming drawers, cooktops, hoods, microwave ovens, refrigerators and dishwashers, as well as home laundry innovations ïin an impressive new design package that will make a bold statement in any home.

In addition to its sophisticated style and energy efficiency, the Studio Series line represents the very best kitchen appliances that LG has to offer, featuring LG's unique core technologies including Linear Compressorï, UltraHeatï and InfraGrillï. The Studio Series line will be on display at the 2011 Kitchen & Bath Industry Show (KBIS) in the LG Hausys booth (#C6702), April 26-28, 2011.

"The introduction of our Studio Series line gives consumers the opportunity to experience LG's cutting-edge core technologies packaged with award-winning style and design," explains Sam Kim, president of Home Appliances, LG Electronics USA, Inc. "Studio Series represents LG's most premium appliances and offers an uncompromising approach to design and function that will create the ultimate kitchen experience in any home."

Ultra-Premium Design

All LG Studio Series appliances come with a premium stainless steel finish, including distinct door handles that add a unique, sophisticated look.

LG's Studio Series counter-depth refrigerators are available in 4-Door, 3-Door, and Side-by-Side configurations in order to meet consumers' space and organization needs. ENERGY STARï qualified, these models combine energy efficiency, stylish design and advanced technology.

All LG Studio Series refrigerators incorporate LG's extra-tall ice and water dispensing center. With an easy-access water tap and a slide-out pitcher rest, the water dispenser area is the industry's tallest measuring 12.6 inches, making it convenient to fill uniquely shaped and assorted sized pitchers and glasses. Select LG Studio Series refrigerators feature the company's innovative Slim SpacePlusï ice system that provides more usable shelf space and makes way for additional door bin space. ïFor an ultra-premium design, Studio Series Side-by-Side refrigerators feature unique horizontally-brushed stainless steel lines, presenting a brighter, more attractive finish that easily matches other stainless steel appliances.

Every LG Studio Series oven boasts a brilliant blue interior cavity for an added touch of sophistication, and features some of the largest oven capacities available. The line includes both single and double oven ranges and built-in wall ovens. The double oven models enable consumers to cook different meals, at different temperatures, at the same time and feature the industry's tallest upper oven, measuring six inches high, allowing home chefs to bake and broil tall items such as a Bundt cake or a rack of lamb without having to preheat the larger oven.

LG's built-in wall ovens feature LG's exclusive Convection System that delivers the ideal temperature and airflow for faster preheating and uniform cooking with four convection options ï Convection Bake, Roast, Crisp and Healthier Roast. A 6.3-inch intuitive LCD control system delivers added cooking convenience and greater ease of use including access to a pre-loaded Gourmet Recipe Bank that lets users scroll through recipe choices across ten food categories: breakfast, appetizer, salad, soup, meat, poultry, seafood, vegetarian, meat and dessert.

Superior Performance

Studio Series represents the very best appliances that LG has to offer and features LG's unique core technologies. All Studio Series appliances are backed with a two-year warranty.

  •  

Linear Compressor

 

 

In many homes, the refrigerator could be listed as one of the top three items for energy consumption. To achieve maximum efficiency in its ENERGY STAR-rated Studio Series models, LG redesigned the refrigeratorïs compressor, which is the element that uses the most energy. Typically, the refrigeratorïs compressor is either running at full capacity or off completely. LGïs Linear Compressor varies output depending on need, leading to fewer temperature swings and saving consumers eight to 17 percent in energy usage versus previous models with conventional compressors. Because the Linear Compressor motor uses fewer moving parts and operates more efficiently, LG confidently backs the motor separately with a 10-year warranty.

 

 

 

 
  •  

InfraGrillï Technology

 

 

LGïs unique InfraGrillï system is one of the first oven technologies to utilize infrared heating elements ï the same technology as premium outdoor grills ï keeping food juicier than traditional thermal cooking. These sophisticated heating elements enable the oven to reach broil temperature more quickly, cutting cooking time by 30 percent for popular foods like hamburgers and chicken breasts.

 

 

 

 
  •  

High Heat Cooking

 

 

UltraHeatï is one of the most powerful burners available on a freestanding range. At 19,000 BTUs, this burner enables consumers to bring large amounts of water to a rapid boil, resulting in faster cooking time. Home chefs will enjoy the flexibility to cook gourmet meals on heat settings that range from 5,000 BTUs for a slight simmer to a 19,000 BTU UltraHeat center burner, making it easier to achieve great cooking results.

 

 

 

 

 

Studio Series Laundry Innovations

The LG Studio Series also includes an advanced line of washers and dryers that offers superior performance and energy efficiency through LG technology.ï Such innovations include TrueSteamï Technology that provides outstanding cleaning performance along with steam-specific cycles that help reduce wrinkles, odors and allergens; LG's TrueSteam offers 21 percent more cleaning power than other leading brands' steam cycle. LG's 6Motionï technology also helps get clothes cleaner with six different wash motions that work to remove dirt while still being gentle on fabrics.ï The intuitive control panel on these ENERGY STAR washers allows for quick and easy programming thanks to the large color LCD display with touch control buttons which provide instructions and diagnostics, while offering updates on the cycle status and time remaining.

For more information on the entire suite of Studio Series appliances, please visit: http://www.lg.com/us/appliances/discoverstudioseries/index.jsp

* Designs, features and specifications subject to change without notice.

About LG Electronics USA

LG Electronics USA, Inc., based in Englewood Cliffs, N.J., is the North American subsidiary of LG Electronics, Inc., a global force and technology leader in consumer electronics, home appliances and mobile communications. In the United States, LG Electronics sells a range of stylish and innovative home entertainment products, mobile phones, home appliances, commercial displays, air conditioning systems and solar energy solutions, all under LG's "Life's Good" marketing theme. For more information, please visit www.lg.com.

SOURCE LG Electronics USA, Inc.

 

 

 

ROK firm to build new material plant in East China

                                                                                                                                                                                          

Xinhua News Agency (CEIS) (China)
21 February 2011                                                                                                                                                           

 

[What follows is the full text of the news story.]

ïROK firm to build new material plant in East China

ïï

ï NANJING, Feb. 21 (Xinhua) -- The LG Hausys, a leading building and decorative company under the industrial giant LG Corp. in the Republic of Korea, will build a new materials plant in eastern Chinese city of Wuxi, Jiangsu Province, local authorities said Monday.

ï As the first phase, the project will include a plant manufacturing environment-friendly materials and a related R&D center, a spokesman with the Wuxi city government said.

ï LG will invest 63 million U.S. dollars in the first phase of the project, which is expected to be put into operation in May next year, the spokesman said.ï

 

 

China Economic News in Brief: LG's new plant in China; Hubei to set up tourism office in U.S.; Foreign-funded businesses in Shanghai

 

 

Xinhua News Agency
21 February 2011

 

 

[What follows is the full text of the news story.]

BEIJING, Feb. 21 (Xinhua) -- Following are some China's economic news items in brief:

ROK FIRM TO BUILD NEW MATERIAL PLANT IN EAST CHINA

The LG Hausys, a leading building and decorative company under the industrial giant LG Corp. in the Republic of Korea, will build a new materials plant in eastern Chinese city of Wuxi, Jiangsu Province, local authorities said Monday.

As the first phase, the project will include a plant manufacturing environment-friendly materials and a related R&D center, a spokesman with the Wuxi city government said.

LG will invest 63 million U.S. dollars in the first phase of the project, which is expected to be put into operation in May next year, the spokesman said.

CHINA'S HUBEI PROVINCE TO SET UP TOURISM OFFICE IN U.S.

Tourism authorities in central China'sHubei Province are planning to set up a liaison office in the United States to promote the region's tourism, including the gigantic Three Gorges Dam and the Shennongjia Forest District, the rumored home of a Bigfoot-like ape-man.

The office, the first such overseas agency to be established by Hubei tourism authorities, is planned for Los Angeles, a spokesman with the Hubei Provincial Tourism Bureau said.

The United States is Hubei's second-largest tourist source country. The province received 207,000 American tourists last year, up 44 percent year on year, the spokesman said.

FOREIGN-FUNDED BUSINESSES IN SHANGHAI HIT RECORD IN TRADE

Exports and imports of forein-funded businesses in China's financial capital Shanghai hit a record high last year, with a yearly growth of 33.82 percent, local authorities said Monday.

Total imports and exports of those businesses reached almost 250 billion U.S. dollars last year, or more than two-thirds of the city's total foreign trade, a spokesman with Shanghai Municipal Commerce Committee said.

The trade figure was 14.7 percent higher than that of 2008, when the previous record was set, the spokesman said.

That indicated foreign-funded businesses in Shanghai have gradually walked out of the shadow of the global financial crisis and entered a new positive phase, he added.

 

  

Annual Income Statement

 

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

9 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Restated Normal
31-Dec-2010

Filed Currency

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

 

 

 

    Net Sales

1,939.0

1,302.5

Revenue

1,939.0

1,302.5

Total Revenue

1,939.0

1,302.5

 

 

 

    Cost of Revenue

1,548.0

1,038.7

Cost of Revenue, Total

1,548.0

1,038.7

Gross Profit

391.0

263.8

 

 

 

    Selling/General/Administrative Expense

191.7

117.5

    Labor & Related Expense

101.3

62.8

    Advertising Expense

21.7

16.3

Total Selling/General/Administrative Expenses

314.7

196.6

Research & Development

8.2

4.9

    Depreciation

14.1

8.7

    Amortization of Intangibles

1.8

1.0

Depreciation/Amortization

16.0

9.7

        Investment Income - Operating

1.2

1.3

    Interest/Investment Income - Operating

1.2

1.3

Interest Expense (Income) - Net Operating Total

1.2

1.3

    Loss (Gain) on Sale of Assets - Operating

-1.9

8.3

Unusual Expense (Income)

-1.9

8.3

    Other Operating Expense

4.4

11.5

    Other, Net

-6.5

-2.1

Other Operating Expenses, Total

-2.1

9.4

Total Operating Expense

1,884.1

1,269.0

 

 

 

Operating Income

54.9

33.5

 

 

 

        Interest Expense - Non-Operating

-14.3

-10.2

    Interest Expense, Net Non-Operating

-14.3

-10.2

        Interest Income - Non-Operating

7.5

4.1

        Investment Income - Non-Operating

1.2

0.3

    Interest/Investment Income - Non-Operating

8.7

4.4

Interest Income (Expense) - Net Non-Operating Total

-5.5

-5.9

    Other Non-Operating Income (Expense)

-1.0

-3.2

Other, Net

-1.0

-3.2

Income Before Tax

48.3

24.4

 

 

 

Total Income Tax

12.3

2.6

Income After Tax

36.0

21.8

 

 

 

    Minority Interest

0.6

-0.5

Net Income Before Extraord Items

36.7

21.3

    Discontinued Operations

-1.4

-3.4

Total Extraord Items

-1.4

-3.4

Net Income

35.3

17.9

 

 

 

    Preferred Dividends

-3.7

-1.9

Total Adjustments to Net Income

-3.7

-1.9

Income Available to Common Excl Extraord Items

33.0

19.4

 

 

 

Income Available to Common Incl Extraord Items

31.6

16.0

 

 

 

Basic/Primary Weighted Average Shares

8.9

9.0

Basic EPS Excl Extraord Items

3.69

2.17

Basic/Primary EPS Incl Extraord Items

3.53

1.79

Dilution Adjustment

0.0

0.0

Diluted Net Income

31.6

16.0

Diluted Weighted Average Shares

8.9

9.0

Diluted EPS Excl Extraord Items

3.69

2.17

Diluted EPS Incl Extraord Items

3.53

1.79

Dividends per Share - Common Stock Primary Issue

0.86

0.78

Gross Dividends - Common Stock

7.7

7.0

Interest Expense, Supplemental

14.3

10.2

Interest Capitalized, Supplemental

-0.1

-0.4

Depreciation, Supplemental

55.5

37.8

Total Special Items

-1.9

8.3

Normalized Income Before Tax

46.4

32.8

 

 

 

Effect of Special Items on Income Taxes

-0.5

0.9

Inc Tax Ex Impact of Sp Items

11.8

3.5

Normalized Income After Tax

34.6

29.2

 

 

 

Normalized Inc. Avail to Com.

31.6

26.8

 

 

 

Basic Normalized EPS

3.53

3.00

Diluted Normalized EPS

3.53

3.00

Amort of Intangibles, Supplemental

2.2

1.4

Advertising Expense, Supplemental

21.7

16.3

Research & Development Exp, Supplemental

8.2

4.9

Normalized EBIT

54.2

43.2

Normalized EBITDA

111.9

82.4

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

UpdateType/Date

Updated Normal
31-Dec-2010

Restated Normal
31-Dec-2010

Filed Currency

KRW

KRW

Exchange Rate

1134.9

1164.475

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

 

 

 

    Cash & Equivalents

171.7

190.5

    Short Term Investments

0.0

0.0

Cash and Short Term Investments

171.7

190.5

        Accounts Receivable - Trade, Gross

331.1

358.9

        Provision for Doubtful Accounts

-11.4

-21.5

    Trade Accounts Receivable - Net

319.7

337.4

    Other Receivables

74.7

43.1

Total Receivables, Net

394.4

380.6

    Inventories - Finished Goods

96.0

75.0

    Inventories - Work In Progress

11.8

9.3

    Inventories - Raw Materials

19.9

13.1

    Inventories - Other

7.6

4.3

Total Inventory

135.4

101.8

Prepaid Expenses

10.6

9.1

    Other Current Assets

1.0

0.4

Other Current Assets, Total

1.0

0.4

Total Current Assets

713.1

682.4

 

 

 

        Buildings

195.2

173.6

        Land/Improvements

64.5

62.2

        Machinery/Equipment

711.3

671.0

        Construction in Progress

98.5

38.5

    Property/Plant/Equipment - Gross

1,069.5

945.3

    Accumulated Depreciation

-509.2

-484.6

Property/Plant/Equipment - Net

560.3

460.7

Intangibles, Net

22.3

17.3

    LT Investments - Other

3.0

3.2

Long Term Investments

3.0

3.2

Note Receivable - Long Term

18.8

15.2

    Deferred Income Tax - Long Term Asset

18.4

22.2

    Other Long Term Assets

3.0

3.1

Other Long Term Assets, Total

21.5

25.3

Total Assets

1,339.1

1,204.0

 

 

 

Accounts Payable

174.9

166.1

Accrued Expenses

17.8

15.9

Notes Payable/Short Term Debt

190.7

121.9

    Customer Advances

4.5

5.1

    Income Taxes Payable

1.4

-

    Other Payables

120.8

119.9

    Other Current Liabilities

15.3

8.8

Other Current liabilities, Total

141.9

133.7

Total Current Liabilities

525.3

437.7

 

 

 

    Long Term Debt

185.9

181.1

Total Long Term Debt

185.9

181.1

Total Debt

376.6

303.0

 

 

 

    Deferred Income Tax - LT Liability

0.0

-

Deferred Income Tax

0.0

-

Minority Interest

6.7

2.6

    Pension Benefits - Underfunded

13.0

10.1

    Other Long Term Liabilities

1.6

1.6

Other Liabilities, Total

14.6

11.7

Total Liabilities

732.6

633.1

 

 

 

    Common Stock

44.1

42.9

Common Stock

44.1

42.9

Additional Paid-In Capital

544.7

530.9

Retained Earnings (Accumulated Deficit)

39.0

18.1

    Other Equity

-7.2

-7.0

    Other Comprehensive Income

-14.1

-13.9

Other Equity, Total

-21.3

-20.9

Total Equity

606.5

570.9

 

 

 

Total Liabilities & Shareholders’ Equity

1,339.1

1,204.0

 

 

 

    Shares Outstanding - Common Stock Primary Issue

8.9

8.9

Total Common Shares Outstanding

8.9

8.9

Treasury Shares - Common Stock Primary Issue

0.0

0.0

    Shares Outstanding - Preferred Stock Primary Issue

1.0

1.0

Total Preferred Stock Outstanding

1.0

1.0

Treasury Shares - Preferred Primary Issue

0.0

0.0

Employees

2,682

2,731

Number of Common Shareholders

21,251

17,815

Deferred Revenue - Current

4.5

5.1

Total Long Term Debt, Supplemental

0.1

207.6

Long Term Debt Maturing within 1 Year

0.1

26.0

Long Term Debt Maturing in Year 2

-

0.1

Long Term Debt Maturing in Year 3

-

128.9

Long Term Debt Maturing in Year 4

-

51.6

Long Term Debt Maturing in 2-3 Years

-

129.0

Long Term Debt Maturing in 4-5 Years

-

51.6

Long Term Debt Matur. in Year 6 & Beyond

0.0

1.0

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

9 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Restated Normal
31-Dec-2010

Filed Currency

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

 

 

 

Net Income/Starting Line

46.5

20.0

    Depreciation

55.5

37.8

Depreciation/Depletion

55.5

37.8

    Amortization of Intangibles

2.2

1.4

Amortization

2.2

1.4

    Unusual Items

-1.8

15.7

    Other Non-Cash Items

7.9

18.8

Non-Cash Items

6.1

34.5

    Accounts Receivable

22.2

-181.8

    Inventories

-29.1

17.9

    Other Assets

1.9

-9.4

    Accounts Payable

4.8

141.3

    Other Liabilities

-15.8

-4.3

    Other Operating Cash Flow

-6.6

-10.2

Changes in Working Capital

-22.6

-46.5

Cash from Operating Activities

87.7

47.2

 

 

 

    Purchase of Fixed Assets

-161.0

-63.7

    Purchase/Acquisition of Intangibles

-1.6

-1.2

Capital Expenditures

-162.6

-64.9

    Sale of Fixed Assets

16.1

8.9

    Sale/Maturity of Investment

0.3

0.0

    Purchase of Investments

0.0

0.0

    Sale of Intangible Assets

0.1

0.0

    Other Investing Cash Flow

-30.5

-21.9

Other Investing Cash Flow Items, Total

-14.0

-13.0

Cash from Investing Activities

-176.6

-77.9

 

 

 

    Other Financing Cash Flow

4.6

-2.2

Financing Cash Flow Items

4.6

-2.2

Total Cash Dividends Paid

-8.7

-

        Repurchase/Retirement of Common

-

-1.6

    Common Stock, Net

-

-1.6

Issuance (Retirement) of Stock, Net

-

-1.6

    Total Debt Issued

356.3

57.8

    Total Debt Reduction

-287.2

-31.4

Issuance (Retirement) of Debt, Net

69.1

26.4

Cash from Financing Activities

65.1

22.6

 

 

 

Foreign Exchange Effects

0.5

-2.2

Net Change in Cash

-23.3

-10.2

 

 

 

Net Cash - Beginning Balance

191.8

184.0

Net Cash - Ending Balance

168.6

173.8

Cash Interest Paid

11.9

7.6

Cash Taxes Paid

1.1

7.0

 

 

 

 

Annual Income Statement

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

9 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Restated Normal
31-Dec-2010

Filed Currency

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

 

 

 

    Sales Revenue

1,939.0

1,302.5

Total Revenue

1,939.0

1,302.5

 

 

 

    Cost-Revenue

1,548.0

1,038.7

    Salaries and Wages

81.2

49.3

    Retirement and Severance Benefits

3.1

3.6

    Employee Benefits

17.0

9.8

    Travel Expenses

12.5

7.3

    Utility Expenses

1.1

2.8

    Usage Fee

10.3

6.2

    Commission Paid

48.0

28.5

    Freight Expenses

47.1

25.7

    Packaging Expenses

6.9

2.8

    Advertising Expenses

21.7

16.3

    Training Expenses

2.1

1.7

    Sample Expenses

18.5

7.1

    Research & Development Expense

8.2

4.9

    Depreciation

14.1

8.7

    Amortization of Intangible Assets

1.8

1.0

    Other Selling and Administrative Expense

45.2

35.5

    Gain on Disposal of Tangible Assets

-4.9

-0.3

    Gains on Foreign Currency Transactions

-11.7

-2.2

    Gains on Foreign Currency Translation

-3.7

-1.4

    Recovery-Loan Loss Reserve

-2.4

-

    Income-Sales

-1.9

-

    Other Operating Income

-2.2

-2.1

    Loss on Disposal of Tangible Assets

3.0

8.6

    Losses on Foreign Currency Transactions

12.9

2.6

    Losses on Foreign Currency Translation

3.7

2.3

    Other Operating Expense

4.4

11.5

Total Operating Expense

1,884.1

1,269.0

 

 

 

    Interest Income

7.5

4.1

    Gains on Foreign Currency Transactions

1.2

1.6

    Gains on Foreign Currency Translation

1.4

0.2

    Dividend Income

0.0

-

    Interest Expenses

-14.3

-10.2

    Losses on Foreign Currency Transactions

-0.8

-1.5

    Losses on Foreign Currency Translation

-0.6

0.0

    Other Non-Operating Income/Loss

-1.0

-3.2

Net Income Before Taxes

48.3

24.4

 

 

 

Provision for Income Taxes

12.3

2.6

Net Income After Taxes

36.0

21.8

 

 

 

    Minority Interest

0.6

-0.5

Net Income Before Extra. Items

36.7

21.3

    Gain/Loss on Discontinued Operations

-1.4

-3.4

Net Income

35.3

17.9

 

 

 

    Preferred Dividend

-0.9

-0.8

    Participated Preferred Dividend

-2.7

-1.0

Income Available to Com Excl ExtraOrd

33.0

19.4

 

 

 

Income Available to Com Incl ExtraOrd

31.6

16.0

 

 

 

Basic Weighted Average Shares

8.9

9.0

Basic EPS Excluding ExtraOrdinary Items

3.69

2.17

Basic EPS Including ExtraOrdinary Items

3.53

1.79

Dilution Adjustment

0.0

0.0

Diluted Net Income

31.6

16.0

Diluted Weighted Average Shares

8.9

9.0

Diluted EPS Excluding ExtraOrd Items

3.69

2.17

Diluted EPS Including ExtraOrd Items

3.53

1.79

DPS-Common Stock

0.86

0.78

Gross Dividends - Common Stock

7.7

7.0

Normalized Income Before Taxes

46.4

32.8

 

 

 

Inc Tax Ex Impact of Sp Items

11.8

3.5

Normalized Income After Taxes

34.6

29.2

 

 

 

Normalized Inc. Avail to Com.

31.6

26.8

 

 

 

Basic Normalized EPS

3.53

3.00

Diluted Normalized EPS

3.53

3.00

Interest Expense, Supplemental

14.3

10.2

Interest Capitalized, Supplemental

-0.1

-0.4

Advertising Expense, Supplemental

21.7

16.3

R&D Expense, Supplemental

8.2

4.9

Depreciation, Supplemental

55.5

37.8

Amort of Intangibles, Supplemental

2.2

1.4

 

 

 

Annual Balance Sheet

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

UpdateType/Date

Updated Normal
31-Dec-2010

Restated Normal
31-Dec-2010

Filed Currency

KRW

KRW

Exchange Rate

1134.9

1164.475

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

 

 

 

    Cash and CashEquivalents

171.7

190.5

    Trade Receivable

331.1

358.9

    Allowance for Doubtful Accounts for Trad

-11.4

-21.5

    Other Receivables

74.7

43.1

    Prepaid Expenses Total

2.6

2.5

    Advance Payments

5.0

2.0

    Prepaid Income Taxes

0.8

2.8

    Prepaid VAT

7.2

3.8

    Current Financial Assets

0.0

0.0

    Other Current Assets

1.0

0.4

    Merchandises

48.5

42.1

    Finished Goods

32.6

23.4

    Goods in Transit

14.9

9.6

    Raw Materials

19.9

13.1

    Semi-finished Goods

11.8

9.3

    Supplies

2.6

2.3

Total Current Assets

713.1

682.4

 

 

 

    LT Financial Assets

1.6

1.4

    LT Loans and Receivables

15.5

12.1

    Other Investments

0.4

0.6

    Long-term Prepaid Expenses

3.0

3.1

    LT Trade Receivable

3.3

3.0

    Land

64.5

62.2

    Buildings

175.3

156.2

    Depreciation-Buidings

-44.9

-40.4

    Reduction-Buidings

-5.4

-5.3

    Structures

26.7

24.0

    Depreciaiton-Structures

-14.8

-13.6

    Reduction-Structures

-1.4

-1.3

    Tools & Equipments

200.7

187.9

    Tools & Equipments-Depreciation

-131.3

-115.3

    Reduction-Tools

-1.0

-1.9

    Machinery

459.5

445.5

    Depreciation-Equipment

-280.9

-281.0

    Reduction-Equipment

-1.6

-8.1

    Vehicles & Transportation Equipment

4.5

4.0

    Depreciation-Vehicles

-3.2

-2.7

    Fixtures

49.2

43.4

    Fixtures-Depreciation

-34.2

-31.6

    Reduction-Office Equipment

0.0

0.0

    Construction in Progress

91.8

34.0

    Machines in Transit

6.7

4.5

    Industrial Property Rights

5.0

4.0

    Development Cost

4.8

2.6

    Other Intangible Assets

12.5

10.7

    Deferred Income Taxes Assets Non-current

18.4

22.2

    Non-Current Assets Held for Sale

1.0

1.2

Total Assets

1,339.1

1,204.0

 

 

 

    Trade Payable

174.9

166.1

    Other Payables

120.8

119.9

    Accrued Expenses

17.8

15.9

    Income Taxes Payable

1.4

-

    Advance for Customers

3.9

4.6

    Unearned Income

0.6

0.4

    Withholdings

11.8

6.1

    Short-term Borrowings

190.7

121.9

    Liabilities Reserve

3.3

2.6

    Other Current Liabilities

0.1

-

Total Current Liabilities

525.3

437.7

 

 

 

    LT Borrowings

185.9

181.1

Total Long Term Debt

185.9

181.1

 

 

 

    LT Other Payables

1.6

1.5

    LT Other Liabilities

-

0.1

    Deferred Income Taxes Liabilities Non-cu

0.0

-

    Provisions for Retirement and Severance

13.0

10.1

    Minority Interest

6.7

2.6

Total Liabilities

732.6

633.1

 

 

 

    Capital Stock

44.1

42.9

    Capital Surplus

544.7

530.9

    Retained Earnings or Accumulated Deficit

39.0

18.1

    Other Capital Adjustment

-7.2

-7.0

    Accumulated Other Comprehensive Income

-14.1

-13.9

Total Equity

606.5

570.9

 

 

 

Total Liabilities & Shareholders' Equity

1,339.1

1,204.0

 

 

 

    S/O-Common Stock

8.9

8.9

Total Common Shares Outstanding

8.9

8.9

T/S-Common Stock

0.0

0.0

    S/O-Preferred Stock

1.0

1.0

Total Preferred Shares Outstanding

1.0

1.0

T/S-Preferred Stock

0.0

0.0

Deferred Revenue, Current

4.5

5.1

Full-Tme Employees

2,682

2,731

Number of Shareholders

21,251

17,815

LT Debt Due in 1 Year

0.1

26.0

LT Debt Due in 2 Year

-

0.1

LT Debt Due in 3 Year

-

128.9

LT Debt Due in 4 Year

-

51.6

LT Debt -Remaining Maturities

-

1.0

Total Long Term Debt, Supplemental

0.1

207.6

 

 

 

Annual Cash Flows

Financials in: USD (mil)

 

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

9 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Restated Normal
31-Dec-2010

Filed Currency

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

 

 

 

Net Income

46.5

20.0

    Depreciation

55.5

37.8

    Amortization of Intangibles

2.2

1.4

    Expenses of Allowance for Doubtful Accou

-

1.5

    Retirement and Severance Benefits

6.7

7.2

    Loss-Reduction of Tangible Assets

0.0

7.7

    Gain/Loss on Foreign Currency Translatio

-0.8

0.7

    Gain/Loss on Sale of Property, Plant and

-2.0

9.6

    Gain/Loss on Sale of Intangible Assets

0.1

0.4

    Interest Income

-7.5

-4.1

    Dividend Income

0.0

-

    Interest Expenses

14.4

10.6

    Recovery-Doubtful Credit Reserve

-2.4

-

    Others

-2.4

2.9

    Trade Receivables

23.4

-166.2

    Other Receivables

-1.2

-15.6

    Other Current Assets

-3.0

-4.0

    Cumulative Assets outside Company

4.9

-5.4

    Increase-Other Non-Current Assets, Opera

0.1

-2.0

    Inventories

-29.1

17.9

    Trade Payables

6.5

106.8

    Other Payables & Liabilities

-1.6

33.1

    LT Other Payables&Liabilities

-0.1

1.4

    Other Current Liabilities

1.7

3.1

    Payment-Retirement Allowance

-18.1

-8.0

    Provision-Retirement Allowance

0.7

0.5

    Cash-Interest Received

6.4

4.4

    Cash-Interest Paid

-11.9

-7.6

    Cash-Tax Paid

-1.1

-7.0

    Dividends Received

0.0

-

Cash from Operating Activities

87.7

47.2

 

 

 

    Decrease-Financial Deposit

43.9

31.3

    Decrease in Short-term Loans

10.7

0.0

    Proceeds from Sale of ST Financial Asset

0.0

-

    Proceeds from Sale of Long-term Financia

-

0.0

    Decrease-LT Loans and Receivables

1.4

2.6

    Decrease-Assets Held for Sale

0.3

-

    Decrease-Other Non-Current Assets

0.3

0.2

    Proceeds from Sale of Property Plant and

16.1

8.9

    Decrease-Intangible Assets

0.1

0.0

    Increase-Financial Deposit

-75.2

-50.1

    Increase in Short-term Loans

-7.0

-3.4

    Increase-LT Loans and Receivables

-4.5

-2.6

    Purchase of Short-term Financial Assets

-

0.0

    Purchase of Long-term Financial Assets

0.0

-

    Purchase of Property, Plant and Equipmen

-161.0

-63.7

    Purchase of Intangible Assets

-1.6

-1.2

    Increase-Other Non-Current Assets

-0.1

0.0

Cash from Investing Activities

-176.6

-77.9

 

 

 

    Increase-Borrowings

356.3

57.8

    Increase-Minority Interest

4.6

2.3

    Purchase of Treasury Stock

-

-1.6

    Redemption-Borrowings

-287.2

-31.4

    Payments in Dividends

-8.7

-

    Decrease-Minority Interest

-

-4.5

    Expense for Stock Issuance

-

0.0

Cash from Financing Activities

65.1

22.6

 

 

 

Foreign Exchange Effects

0.5

-2.2

Net Change in Cash

-23.3

-10.2

 

 

 

    Cash Interest Paid

11.9

7.6

    Cash Taxes Paid

1.1

7.0

Cash and Cash Equivalent at Beginning

191.8

184.0

Cash and Cash Equivalent at End

168.6

173.8

 

 

 

 

Financial Health

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

Key Indicators USD (mil)

 

Quarter
Ending
30-Jun-2011

Quarter
Ending
Yr Ago

Annual
Year End
31-Dec-2010

1 Year
Growth

3 Year
Growth

5 Year
Growth

Total Revenue1 (?)

579.4

4.80%

1,939.0

34.86%

-

-

Research & Development1 (?)

-

-

8.2

53.03%

-

-

Operating Income1 (?)

15.1

-25.13%

54.9

48.33%

-

-

Income Available to Common Excl Extraord Items1 (?)

9.5

-25.28%

33.0

54.12%

-

-

Basic EPS Excl Extraord Items1 (?)

1.06

-25.28%

3.69

54.14%

-

-

Capital Expenditures2 (?)

109.9

78.34%

162.6

127.01%

-

-

Cash from Operating Activities2 (?)

-15.6

-

87.7

68.32%

-

-

Free Cash Flow (?)

-129.5

-

-76.3

-

-

-

Total Assets3 (?)

1,535.6

8.32%

1,339.1

8.39%

-

-

Total Liabilities3 (?)

883.4

14.33%

732.6

12.78%

-

-

Total Long Term Debt3 (?)

77.6

-60.70%

185.9

0.08%

-

-

Employees3 (?)

-

-

2682

-1.79%

-

-

Total Common Shares Outstanding3 (?)

8.9

0.00%

8.9

0.00%

-

-

1-ExchangeRate: KRW to USD Average for Period

1083.436022

 

1156.281981

 

 

 

2-ExchangeRate: KRW to USD Average for Period

1101.856011

 

1156.281981

 

 

 

3-ExchangeRate: KRW to USD Period End Date

1067.650000

 

1134.900000

 

 

 

Key Ratios

 

31-Dec-2010

31-Dec-2009

Profitability

Gross Margin (?)

20.17%

20.25%

Operating Margin (?)

2.83%

2.57%

Pretax Margin (?)

2.49%

1.88%

Net Profit Margin (?)

1.70%

1.49%

Financial Strength

Current Ratio (?)

1.36

1.56

Long Term Debt/Equity (?)

0.31

0.32

Total Debt/Equity (?)

0.62

0.53

Management Effectiveness

Return on Assets (?)

2.85%

-

Return on Equity (?)

5.64%

-

Efficiency

Receivables Turnover (?)

5.03

-

Inventory Turnover (?)

13.15

-

Asset Turnover (?)

1.53

-

Market Valuation USD (mil)

P/E (TTM) (?)

19.69

.

Enterprise Value2 (?)

936.1

Price/Sales (TTM) (?)

0.28

.

Enterprise Value/Revenue (TTM) (?)

0.44

Price/Book (MRQ) (?)

0.90

.

Enterprise Value/EBITDA (TTM) (?)

8.30

Market Cap as of 09-Sep-20111 (?)

601.4

.

 

 

1-ExchangeRate: KRW to USD on 9-Sep-2011

1077.250000

 

 

 

2-ExchangeRate: KRW to USD on 30-Jun-2011

1067.650000

 

 

 

 

 

 

 

Annual Ratios

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 



 

 

31-Dec-2010

31-Dec-2009

Financial Strength

Current Ratio (?)

1.36

1.56

Quick/Acid Test Ratio (?)

1.08

1.30

Working Capital1 (?)

187.8

244.7

Long Term Debt/Equity (?)

0.31

0.32

Total Debt/Equity (?)

0.62

0.53

Long Term Debt/Total Capital (?)

0.19

0.21

Total Debt/Total Capital (?)

0.38

0.35

Payout Ratio (?)

23.45%

36.15%

Effective Tax Rate (?)

25.43%

10.79%

Total Capital1 (?)

983.1

873.9

 

 

 

Efficiency

Asset Turnover (?)

1.53

-

Inventory Turnover (?)

13.15

-

Days In Inventory (?)

27.75

-

Receivables Turnover (?)

5.03

-

Days Receivables Outstanding (?)

72.51

-

Revenue/Employee2 (?)

736,600

522,780

Operating Income/Employee2 (?)

20,859

13,460

EBITDA/Employee2 (?)

42,766

29,187

 

 

 

Profitability

Gross Margin (?)

20.17%

20.25%

Operating Margin (?)

2.83%

2.57%

EBITDA Margin (?)

5.81%

5.58%

EBIT Margin (?)

2.83%

2.57%

Pretax Margin (?)

2.49%

1.88%

Net Profit Margin (?)

1.70%

1.49%

R&D Expense/Revenue (?)

0.42%

0.37%

COGS/Revenue (?)

79.83%

79.75%

SG&A Expense/Revenue (?)

16.23%

15.09%

 

 

 

Management Effectiveness

Return on Assets (?)

2.85%

-

Return on Equity (?)

5.64%

-

 

 

 

Valuation

Free Cash Flow/Share2 (?)

-8.52

-2.16

Operating Cash Flow/Share 2 (?)

9.99

5.78

1-ExchangeRate: KRW to USD Period End Date

1134.9

1164.475

2-ExchangeRate: KRW to USD Average for Period

1134.9

1164.475

 

Current Market Multiples

Market Cap/Earnings (TTM) (?)

20.45

Market Cap/Equity (MRQ) (?)

0.93

Market Cap/Revenue (TTM) (?)

0.28

Market Cap/EBIT (TTM) (?)

12.33

Market Cap/EBITDA (TTM) (?)

5.38

Enterprise Value/Earnings (TTM) (?)

31.55

Enterprise Value/Equity (MRQ) (?)

1.44

Enterprise Value/Revenue (TTM) (?)

0.44

Enterprise Value/EBIT (TTM) (?)

19.02

Enterprise Value/EBITDA (TTM) (?)

8.30

 

 

 

 

Annual Income Statement

Standardized

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

9 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Restated Normal
31-Dec-2010

Filed Currency

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

 

 

 

    Net Sales

1,939.0

1,302.5

Revenue

1,939.0

1,302.5

Total Revenue

1,939.0

1,302.5

 

 

 

    Cost of Revenue

1,548.0

1,038.7

Cost of Revenue, Total

1,548.0

1,038.7

Gross Profit

391.0

263.8

 

 

 

    Selling/General/Administrative Expense

191.7

117.5

    Labor & Related Expense

101.3

62.8

    Advertising Expense

21.7

16.3

Total Selling/General/Administrative Expenses

314.7

196.6

Research & Development

8.2

4.9

    Depreciation

14.1

8.7

    Amortization of Intangibles

1.8

1.0

Depreciation/Amortization

16.0

9.7

        Investment Income - Operating

1.2

1.3

    Interest/Investment Income - Operating

1.2

1.3

Interest Expense (Income) - Net Operating Total

1.2

1.3

    Loss (Gain) on Sale of Assets - Operating

-1.9

8.3

Unusual Expense (Income)

-1.9

8.3

    Other Operating Expense

4.4

11.5

    Other, Net

-6.5

-2.1

Other Operating Expenses, Total

-2.1

9.4

Total Operating Expense

1,884.1

1,269.0

 

 

 

Operating Income

54.9

33.5

 

 

 

        Interest Expense - Non-Operating

-14.3

-10.2

    Interest Expense, Net Non-Operating

-14.3

-10.2

        Interest Income - Non-Operating

7.5

4.1

        Investment Income - Non-Operating

1.2

0.3

    Interest/Investment Income - Non-Operating

8.7

4.4

Interest Income (Expense) - Net Non-Operating Total

-5.5

-5.9

    Other Non-Operating Income (Expense)

-1.0

-3.2

Other, Net

-1.0

-3.2

Income Before Tax

48.3

24.4

 

 

 

Total Income Tax

12.3

2.6

Income After Tax

36.0

21.8

 

 

 

    Minority Interest

0.6

-0.5

Net Income Before Extraord Items

36.7

21.3

    Discontinued Operations

-1.4

-3.4

Total Extraord Items

-1.4

-3.4

Net Income

35.3

17.9

 

 

 

    Preferred Dividends

-3.7

-1.9

Total Adjustments to Net Income

-3.7

-1.9

Income Available to Common Excl Extraord Items

33.0

19.4

 

 

 

Income Available to Common Incl Extraord Items

31.6

16.0

 

 

 

Basic/Primary Weighted Average Shares

8.9

9.0

Basic EPS Excl Extraord Items

3.69

2.17

Basic/Primary EPS Incl Extraord Items

3.53

1.79

Dilution Adjustment

0.0

0.0

Diluted Net Income

31.6

16.0

Diluted Weighted Average Shares

8.9

9.0

Diluted EPS Excl Extraord Items

3.69

2.17

Diluted EPS Incl Extraord Items

3.53

1.79

Dividends per Share - Common Stock Primary Issue

0.86

0.78

Gross Dividends - Common Stock

7.7

7.0

Interest Expense, Supplemental

14.3

10.2

Interest Capitalized, Supplemental

-0.1

-0.4

Depreciation, Supplemental

55.5

37.8

Total Special Items

-1.9

8.3

Normalized Income Before Tax

46.4

32.8

 

 

 

Effect of Special Items on Income Taxes

-0.5

0.9

Inc Tax Ex Impact of Sp Items

11.8

3.5

Normalized Income After Tax

34.6

29.2

 

 

 

Normalized Inc. Avail to Com.

31.6

26.8

 

 

 

Basic Normalized EPS

3.53

3.00

Diluted Normalized EPS

3.53

3.00

Amort of Intangibles, Supplemental

2.2

1.4

Advertising Expense, Supplemental

21.7

16.3

Research & Development Exp, Supplemental

8.2

4.9

Normalized EBIT

54.2

43.2

Normalized EBITDA

111.9

82.4

 

 

 

 

Interim Income Statement

Standardized

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

  Financial Glossary

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
31-Dec-2010

Updated Normal
30-Sep-2010

Reclassified Normal
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1083.436022

1120.28956

1132.465591

1183.132366

1164.000484

 

 

 

 

 

 

    Net Sales

579.4

489.5

483.8

465.1

514.6

Revenue

579.4

489.5

483.8

465.1

514.6

Total Revenue

579.4

489.5

483.8

465.1

514.6

 

 

 

 

 

 

    Cost of Revenue

465.5

390.8

389.8

370.9

411.9

Cost of Revenue, Total

465.5

390.8

389.8

370.9

411.9

Gross Profit

113.9

98.8

93.9

94.2

102.7

 

 

 

 

 

 

    Selling/General/Administrative Expense

99.7

49.3

53.0

47.1

86.8

    Labor & Related Expense

-

30.4

22.4

25.0

-

    Advertising Expense

-

3.8

6.3

4.4

-

Total Selling/General/Administrative Expenses

99.7

83.5

81.7

76.5

86.8

Research & Development

-

1.4

2.2

2.3

-

    Depreciation

-

3.9

3.9

3.5

-

    Amortization of Intangibles

-

0.5

0.5

0.5

-

Depreciation/Amortization

-

4.4

4.4

4.0

-

        Investment Income - Operating

-

-1.6

1.6

-0.2

-

    Interest/Investment Income - Operating

-

-1.6

1.6

-0.2

-

Interest Expense (Income) - Net Operating Total

-

-1.6

1.6

-0.2

-

    Loss (Gain) on Sale of Assets - Operating

-

-1.2

0.7

-0.4

-

Unusual Expense (Income)

-

-1.2

0.7

-0.4

-

    Other Operating Expense

5.5

0.4

-2.6

0.6

7.8

    Other, Net

-6.4

-2.8

0.7

-0.4

-10.7

Other Operating Expenses, Total

-0.9

-2.5

-1.9

0.2

-2.9

Total Operating Expense

564.3

474.8

478.6

453.3

495.8

 

 

 

 

 

 

Operating Income

15.1

14.8

5.1

11.8

18.8

 

 

 

 

 

 

        Investment Income - Non-Operating

-1.8

-1.7

-1.1

-1.2

-1.2

    Interest/Investment Income - Non-Operating

-1.8

-1.7

-1.1

-1.2

-1.2

Interest Income (Expense) - Net Non-Operating Total

-1.8

-1.7

-1.1

-1.2

-1.2

    Other Non-Operating Income (Expense)

-0.1

-

-0.3

-0.3

-0.2

Other, Net

-0.1

-

-0.3

-0.3

-0.2

Income Before Tax

13.2

13.1

3.7

10.3

17.4

 

 

 

 

 

 

Total Income Tax

2.7

3.7

1.2

1.8

4.5

Income After Tax

10.5

9.3

2.5

8.4

13.0

 

 

 

 

 

 

    Minority Interest

0.0

0.2

0.0

0.1

0.2

Net Income Before Extraord Items

10.5

9.5

2.6

8.5

13.2

    Discontinued Operations

-0.6

-0.3

-0.7

-0.7

-0.4

Total Extraord Items

-0.6

-0.3

-0.7

-0.7

-0.4

Net Income

10.0

9.3

1.9

7.8

12.7

 

 

 

 

 

 

    Preferred Dividends

-1.0

-1.0

-0.1

-0.9

-1.3

Total Adjustments to Net Income

-1.0

-1.0

-0.1

-0.9

-1.3

Income Available to Common Excl Extraord Items

9.5

8.6

2.4

7.6

11.8

 

 

 

 

 

 

Income Available to Common Incl Extraord Items

8.9

8.3

1.7

6.9

11.4

 

 

 

 

 

 

Basic/Primary Weighted Average Shares

8.9

8.9

8.9

8.9

8.9

Basic EPS Excl Extraord Items

1.06

0.96

0.27

0.85

1.32

Basic/Primary EPS Incl Extraord Items

1.00

0.93

0.19

0.78

1.27

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

8.9

8.3

1.7

6.9

11.4

Diluted Weighted Average Shares

8.9

8.9

8.9

8.9

8.9

Diluted EPS Excl Extraord Items

1.06

0.96

0.27

0.85

1.32

Diluted EPS Incl Extraord Items

1.00

0.93

0.19

0.78

1.27

Dividends per Share - Common Stock Primary Issue

0.00

0.00

0.88

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

7.9

0.0

0.0

Interest Expense, Supplemental

4.0

3.8

-

-

3.6

Depreciation, Supplemental

15.4

14.4

14.2

13.7

14.2

Total Special Items

-

-1.2

0.7

-0.4

-

Normalized Income Before Tax

13.2

11.8

4.5

9.9

17.4

 

 

 

 

 

 

Effect of Special Items on Income Taxes

-

-0.4

0.2

-0.1

-

Inc Tax Ex Impact of Sp Items

2.7

3.4

1.4

1.8

4.5

Normalized Income After Tax

10.5

8.4

3.0

8.1

13.0

 

 

 

 

 

 

Normalized Inc. Avail to Com.

9.5

7.7

2.9

7.3

11.8

 

 

 

 

 

 

Basic Normalized EPS

1.06

0.86

0.33

0.82

1.32

Diluted Normalized EPS

1.06

0.86

0.33

0.82

1.32

Amort of Intangibles, Supplemental

0.7

0.6

0.6

0.6

0.5

Advertising Expense, Supplemental

8.3

3.8

6.3

4.4

7.0

Research & Development Exp, Supplemental

1.9

1.4

2.2

2.3

2.1

Normalized EBIT

15.1

11.9

7.5

11.2

18.8

Normalized EBITDA

31.2

27.0

22.3

25.5

33.5

 

 

 

 

Annual Balance Sheet

Standardized

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

  Financial Glossary

 

 

 

31-Dec-2010

31-Dec-2009

UpdateType/Date

Updated Normal
31-Dec-2010

Restated Normal
31-Dec-2010

Filed Currency

KRW

KRW

Exchange Rate

1134.9

1164.475

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

 

 

 

    Cash & Equivalents

171.7

190.5

    Short Term Investments

0.0

0.0

Cash and Short Term Investments

171.7

190.5

        Accounts Receivable - Trade, Gross

331.1

358.9

        Provision for Doubtful Accounts

-11.4

-21.5

    Trade Accounts Receivable - Net

319.7

337.4

    Other Receivables

74.7

43.1

Total Receivables, Net

394.4

380.6

    Inventories - Finished Goods

96.0

75.0

    Inventories - Work In Progress

11.8

9.3

    Inventories - Raw Materials

19.9

13.1

    Inventories - Other

7.6

4.3

Total Inventory

135.4

101.8

Prepaid Expenses

10.6

9.1

    Other Current Assets

1.0

0.4

Other Current Assets, Total

1.0

0.4

Total Current Assets

713.1

682.4

 

 

 

        Buildings

195.2

173.6

        Land/Improvements

64.5

62.2

        Machinery/Equipment

711.3

671.0

        Construction in Progress

98.5

38.5

    Property/Plant/Equipment - Gross

1,069.5

945.3

    Accumulated Depreciation

-509.2

-484.6

Property/Plant/Equipment - Net

560.3

460.7

Intangibles, Net

22.3

17.3

    LT Investments - Other

3.0

3.2

Long Term Investments

3.0

3.2

Note Receivable - Long Term

18.8

15.2

    Deferred Income Tax - Long Term Asset

18.4

22.2

    Other Long Term Assets

3.0

3.1

Other Long Term Assets, Total

21.5

25.3

Total Assets

1,339.1

1,204.0

 

 

 

Accounts Payable

174.9

166.1

Accrued Expenses

17.8

15.9

Notes Payable/Short Term Debt

190.7

121.9

    Customer Advances

4.5

5.1

    Income Taxes Payable

1.4

-

    Other Payables

120.8

119.9

    Other Current Liabilities

15.3

8.8

Other Current liabilities, Total

141.9

133.7

Total Current Liabilities

525.3

437.7

 

 

 

    Long Term Debt

185.9

181.1

Total Long Term Debt

185.9

181.1

Total Debt

376.6

303.0

 

 

 

    Deferred Income Tax - LT Liability

0.0

-

Deferred Income Tax

0.0

-

Minority Interest

6.7

2.6

    Pension Benefits - Underfunded

13.0

10.1

    Other Long Term Liabilities

1.6

1.6

Other Liabilities, Total

14.6

11.7

Total Liabilities

732.6

633.1

 

 

 

    Common Stock

44.1

42.9

Common Stock

44.1

42.9

Additional Paid-In Capital

544.7

530.9

Retained Earnings (Accumulated Deficit)

39.0

18.1

    Other Equity

-7.2

-7.0

    Other Comprehensive Income

-14.1

-13.9

Other Equity, Total

-21.3

-20.9

Total Equity

606.5

570.9

 

 

 

Total Liabilities & Shareholders’ Equity

1,339.1

1,204.0

 

 

 

    Shares Outstanding - Common Stock Primary Issue

8.9

8.9

Total Common Shares Outstanding

8.9

8.9

Treasury Shares - Common Stock Primary Issue

0.0

0.0

    Shares Outstanding - Preferred Stock Primary Issue

1.0

1.0

Total Preferred Stock Outstanding

1.0

1.0

Treasury Shares - Preferred Primary Issue

0.0

0.0

Employees

2,682

2,731

Number of Common Shareholders

21,251

17,815

Deferred Revenue - Current

4.5

5.1

Total Long Term Debt, Supplemental

0.1

207.6

Long Term Debt Maturing within 1 Year

0.1

26.0

Long Term Debt Maturing in Year 2

-

0.1

Long Term Debt Maturing in Year 3

-

128.9

Long Term Debt Maturing in Year 4

-

51.6

Long Term Debt Maturing in 2-3 Years

-

129.0

Long Term Debt Maturing in 4-5 Years

-

51.6

Long Term Debt Matur. in Year 6 & Beyond

0.0

1.0

 

 

 

 

Interim Balance Sheet

Standardized

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

  Financial Glossary

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

UpdateType/Date

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Reclassified Normal
31-Mar-2011

Updated Normal
30-Sep-2010

Updated Normal
30-Jun-2010

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1067.65

1096.95

1134.9

1140.25

1221.965

 

 

 

 

 

 

    Cash & Equivalents

138.7

243.9

171.7

149.7

146.1

    Short Term Investments

-

0.0

0.0

0.0

0.0

Cash and Short Term Investments

138.7

243.9

171.7

149.7

146.1

        Accounts Receivable - Trade, Gross

-

363.6

331.1

329.4

342.9

    Trade Accounts Receivable - Net

380.0

348.8

319.7

420.8

427.8

    Other Receivables

87.0

58.1

74.7

-

-

Total Receivables, Net

467.0

406.9

394.4

420.8

427.8

    Inventories - Finished Goods

-

128.7

107.8

106.5

101.4

    Inventories - Raw Materials

-

29.7

19.9

21.8

16.7

    Inventories - Other

-

6.1

2.6

2.8

3.5

Total Inventory

193.4

164.5

130.3

131.1

121.6

Prepaid Expenses

1.3

1.1

0.8

0.8

0.8

    Other Current Assets

19.7

16.3

15.8

17.6

16.4

Other Current Assets, Total

19.7

16.3

15.8

17.6

16.4

Total Current Assets

820.1

832.7

713.1

719.9

712.7

 

 

 

 

 

 

        Buildings

-

212.0

195.2

-

-

        Land/Improvements

-

66.7

64.5

63.5

59.3

        Machinery/Equipment

-

742.0

711.3

-

-

        Construction in Progress

-

130.3

98.5

75.7

43.1

    Property/Plant/Equipment - Gross

-

1,151.1

1,069.5

139.2

102.4

    Accumulated Depreciation

-

-523.9

-509.2

-

-

Property/Plant/Equipment - Net

648.7

627.1

560.3

525.2

464.2

Intangibles, Net

23.9

23.4

22.3

21.4

19.9

    LT Investment - Affiliate Companies

6.3

-

-

-

-

    LT Investments - Other

2.7

2.7

2.6

2.7

3.4

Long Term Investments

8.9

2.7

2.6

2.7

3.4

Note Receivable - Long Term

15.5

0.9

3.7

15.9

14.8

    Deferred Income Tax - Long Term Asset

14.7

16.2

18.4

22.6

20.3

    Other Long Term Assets

3.7

20.0

18.5

3.5

3.4

Other Long Term Assets, Total

18.5

36.3

37.0

26.0

23.7

Total Assets

1,535.6

1,523.2

1,339.1

1,311.1

1,238.6

 

 

 

 

 

 

Accounts Payable

219.7

253.2

174.9

160.8

174.8

Accrued Expenses

-

24.0

17.8

-

-

Notes Payable/Short Term Debt

389.6

224.1

190.6

184.7

157.4

Current Portion - Long Term Debt/Capital Leases

-

136.7

0.1

-

0.1

    Income Taxes Payable

0.6

1.5

1.4

7.1

7.6

    Other Payables

159.3

136.0

120.8

135.6

132.7

    Other Current Liabilities

18.3

23.2

19.8

15.2

17.0

Other Current liabilities, Total

178.3

160.7

141.9

157.9

157.3

Total Current Liabilities

787.7

798.7

525.3

503.4

489.5

 

 

 

 

 

 

    Long Term Debt

77.6

75.6

185.9

185.0

172.6

Total Long Term Debt

77.6

75.6

185.9

185.0

172.6

Total Debt

467.3

436.4

376.6

369.7

330.1

 

 

 

 

 

 

    Deferred Income Tax - LT Liability

0.0

0.0

0.0

-

-

Deferred Income Tax

0.0

0.0

0.0

-

-

Minority Interest

0.8

6.7

6.7

6.7

5.7

    Pension Benefits - Underfunded

17.2

15.7

13.0

7.4

5.1

    Other Long Term Liabilities

0.1

0.1

1.6

2.6

2.1

Other Liabilities, Total

17.3

15.8

14.6

10.0

7.2

Total Liabilities

883.4

896.9

732.6

705.2

675.1

 

 

 

 

 

 

    Preferred Stock - Non Redeemable

-

-

-

-

4.2

Preferred Stock - Non Redeemable, Net

-

-

-

-

4.2

    Common Stock

46.8

45.6

44.1

43.9

36.7

Common Stock

46.8

45.6

44.1

43.9

36.7

Additional Paid-In Capital

579.0

563.6

544.7

542.1

505.9

Retained Earnings (Accumulated Deficit)

52.1

40.9

39.0

41.5

33.2

Treasury Stock - Common

-

-

-

-

-1.6

    Other Equity

-7.7

-7.5

-7.2

-7.2

-5.1

    Other Comprehensive Income

-18.1

-16.2

-14.1

-14.4

-9.8

Other Equity, Total

-25.7

-23.7

-21.3

-21.6

-14.9

Total Equity

652.3

626.3

606.5

605.9

563.6

 

 

 

 

 

 

Total Liabilities & Shareholders’ Equity

1,535.6

1,523.2

1,339.1

1,311.1

1,238.6

 

 

 

 

 

 

    Shares Outstanding - Common Stock Primary Issue

8.9

8.9

8.9

8.9

8.9

Total Common Shares Outstanding

8.9

8.9

8.9

8.9

8.9

Treasury Shares - Common Stock Primary Issue

0.0

0.0

0.0

0.0

0.0

    Shares Outstanding - Preferred Stock Primary Issue

1.0

1.0

1.0

1.0

1.0

Total Preferred Stock Outstanding

1.0

1.0

1.0

1.0

1.0

Treasury Shares - Preferred Primary Issue

0.0

0.0

0.0

0.0

0.0

Employees

-

2,723

2,682

2,721

2,714

Number of Common Shareholders

-

-

21,251

-

-

Total Long Term Debt, Supplemental

-

136.7

-

-

172.7

Long Term Debt Maturing within 1 Year

-

136.7

-

-

0.1

Long Term Debt Matur. in Year 6 & Beyond

-

0.0

-

-

172.6

 

 

 

 

Annual Cash Flows

Standardized

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

  Financial Glossary

 

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

9 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Restated Normal
31-Dec-2010

Filed Currency

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

 

 

 

Net Income/Starting Line

46.5

20.0

    Depreciation

55.5

37.8

Depreciation/Depletion

55.5

37.8

    Amortization of Intangibles

2.2

1.4

Amortization

2.2

1.4

    Unusual Items

-1.8

15.7

    Other Non-Cash Items

7.9

18.8

Non-Cash Items

6.1

34.5

    Accounts Receivable

22.2

-181.8

    Inventories

-29.1

17.9

    Other Assets

1.9

-9.4

    Accounts Payable

4.8

141.3

    Other Liabilities

-15.8

-4.3

    Other Operating Cash Flow

-6.6

-10.2

Changes in Working Capital

-22.6

-46.5

Cash from Operating Activities

87.7

47.2

 

 

 

    Purchase of Fixed Assets

-161.0

-63.7

    Purchase/Acquisition of Intangibles

-1.6

-1.2

Capital Expenditures

-162.6

-64.9

    Sale of Fixed Assets

16.1

8.9

    Sale/Maturity of Investment

0.3

0.0

    Purchase of Investments

0.0

0.0

    Sale of Intangible Assets

0.1

0.0

    Other Investing Cash Flow

-30.5

-21.9

Other Investing Cash Flow Items, Total

-14.0

-13.0

Cash from Investing Activities

-176.6

-77.9

 

 

 

    Other Financing Cash Flow

4.6

-2.2

Financing Cash Flow Items

4.6

-2.2

Total Cash Dividends Paid

-8.7

-

        Repurchase/Retirement of Common

-

-1.6

    Common Stock, Net

-

-1.6

Issuance (Retirement) of Stock, Net

-

-1.6

    Total Debt Issued

356.3

57.8

    Total Debt Reduction

-287.2

-31.4

Issuance (Retirement) of Debt, Net

69.1

26.4

Cash from Financing Activities

65.1

22.6

 

 

 

Foreign Exchange Effects

0.5

-2.2

Net Change in Cash

-23.3

-10.2

 

 

 

Net Cash - Beginning Balance

191.8

184.0

Net Cash - Ending Balance

168.6

173.8

Cash Interest Paid

11.9

7.6

Cash Taxes Paid

1.1

7.0

 

 

 

Interim Cash Flows

Standardized

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

6 Months

3 Months

12 Months

9 Months

6 Months

UpdateType/Date

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
31-Dec-2010

Updated Normal
30-Sep-2010

Reclassified Normal
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1101.856011

1120.28956

1156.281981

1164.307745

1155.056202

 

 

 

 

 

 

Net Income/Starting Line

26.3

12.7

46.5

-

34.2

    Depreciation

29.8

14.4

55.5

-

27.6

Depreciation/Depletion

29.8

14.4

55.5

-

27.6

    Amortization of Intangibles

1.3

0.6

2.2

-

1.0

Amortization

1.3

0.6

2.2

-

1.0

    Discontinued Operations

-1.1

-

-

-

0.0

    Unusual Items

-2.8

-1.9

-1.8

-

-2.0

    Other Non-Cash Items

5.9

1.9

7.9

-

2.0

Non-Cash Items

2.0

0.0

6.1

-

-0.1

    Accounts Receivable

-56.8

-17.0

22.2

-

24.0

    Inventories

-56.1

-29.6

-29.1

-

-26.9

    Other Assets

2.7

0.7

1.9

-

-4.2

    Accounts Payable

50.8

84.4

4.8

-

-21.9

    Other Liabilities

-9.6

-7.3

-15.8

-

3.5

    Other Operating Cash Flow

-6.1

-2.1

-6.6

41.2

-1.0

Changes in Working Capital

-75.0

29.2

-22.6

41.2

-26.5

Cash from Operating Activities

-15.6

57.0

87.7

41.2

36.2

 

 

 

 

 

 

    Purchase of Fixed Assets

-108.2

-70.9

-161.0

-104.2

-58.0

    Purchase/Acquisition of Intangibles

-1.8

-0.7

-1.6

-1.1

-0.8

Capital Expenditures

-109.9

-71.6

-162.6

-105.3

-58.8

    Sale of Fixed Assets

13.3

8.1

16.1

7.0

2.9

    Sale/Maturity of Investment

0.8

0.7

0.3

10.9

3.8

    Investment, Net

-0.5

-

-

-

-

    Purchase of Investments

-

-0.1

0.0

-6.9

-0.2

    Sale of Intangible Assets

0.3

-

0.1

0.0

-

    Other Investing Cash Flow

4.2

20.1

-30.5

-50.1

-54.6

Other Investing Cash Flow Items, Total

18.0

28.9

-14.0

-39.0

-48.1

Cash from Investing Activities

-91.9

-42.7

-176.6

-144.3

-106.9

 

 

 

 

 

 

    Other Financing Cash Flow

-

-

4.6

4.6

4.0

Financing Cash Flow Items

-

-

4.6

4.6

4.0

Total Cash Dividends Paid

-9.1

-

-8.7

-8.6

-8.7

    Total Debt Issued

291.9

120.8

356.3

275.7

177.4

    Total Debt Reduction

-217.2

-70.4

-287.2

-212.9

-138.9

Issuance (Retirement) of Debt, Net

74.8

50.4

69.1

62.9

38.6

Cash from Financing Activities

65.7

50.4

65.1

58.9

33.8

 

 

 

 

 

 

Foreign Exchange Effects

-0.6

0.2

0.5

0.3

-0.7

Net Change in Cash

-42.5

64.9

-23.3

-43.9

-37.5

 

 

 

 

 

 

Net Cash - Beginning Balance

176.9

174.0

191.8

190.5

192.0

Net Cash - Ending Balance

134.4

238.9

168.6

146.6

154.5

Cash Interest Paid

7.1

3.3

11.9

9.1

5.9

Cash Taxes Paid

3.0

1.2

1.1

0.5

-2.0

 

 

 

 

Annual Income Statement

As Reported

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

9 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Restated Normal
31-Dec-2010

Filed Currency

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

 

 

 

    Sales Revenue

1,939.0

1,302.5

Total Revenue

1,939.0

1,302.5

 

 

 

    Cost-Revenue

1,548.0

1,038.7

    Salaries and Wages

81.2

49.3

    Retirement and Severance Benefits

3.1

3.6

    Employee Benefits

17.0

9.8

    Travel Expenses

12.5

7.3

    Utility Expenses

1.1

2.8

    Usage Fee

10.3

6.2

    Commission Paid

48.0

28.5

    Freight Expenses

47.1

25.7

    Packaging Expenses

6.9

2.8

    Advertising Expenses

21.7

16.3

    Training Expenses

2.1

1.7

    Sample Expenses

18.5

7.1

    Research & Development Expense

8.2

4.9

    Depreciation

14.1

8.7

    Amortization of Intangible Assets

1.8

1.0

    Other Selling and Administrative Expense

45.2

35.5

    Gain on Disposal of Tangible Assets

-4.9

-0.3

    Gains on Foreign Currency Transactions

-11.7

-2.2

    Gains on Foreign Currency Translation

-3.7

-1.4

    Recovery-Loan Loss Reserve

-2.4

-

    Income-Sales

-1.9

-

    Other Operating Income

-2.2

-2.1

    Loss on Disposal of Tangible Assets

3.0

8.6

    Losses on Foreign Currency Transactions

12.9

2.6

    Losses on Foreign Currency Translation

3.7

2.3

    Other Operating Expense

4.4

11.5

Total Operating Expense

1,884.1

1,269.0

 

 

 

    Interest Income

7.5

4.1

    Gains on Foreign Currency Transactions

1.2

1.6

    Gains on Foreign Currency Translation

1.4

0.2

    Dividend Income

0.0

-

    Interest Expenses

-14.3

-10.2

    Losses on Foreign Currency Transactions

-0.8

-1.5

    Losses on Foreign Currency Translation

-0.6

0.0

    Other Non-Operating Income/Loss

-1.0

-3.2

Net Income Before Taxes

48.3

24.4

 

 

 

Provision for Income Taxes

12.3

2.6

Net Income After Taxes

36.0

21.8

 

 

 

    Minority Interest

0.6

-0.5

Net Income Before Extra. Items

36.7

21.3

    Gain/Loss on Discontinued Operations

-1.4

-3.4

Net Income

35.3

17.9

 

 

 

    Preferred Dividend

-0.9

-0.8

    Participated Preferred Dividend

-2.7

-1.0

Income Available to Com Excl ExtraOrd

33.0

19.4

 

 

 

Income Available to Com Incl ExtraOrd

31.6

16.0

 

 

 

Basic Weighted Average Shares

8.9

9.0

Basic EPS Excluding ExtraOrdinary Items

3.69

2.17

Basic EPS Including ExtraOrdinary Items

3.53

1.79

Dilution Adjustment

0.0

0.0

Diluted Net Income

31.6

16.0

Diluted Weighted Average Shares

8.9

9.0

Diluted EPS Excluding ExtraOrd Items

3.69

2.17

Diluted EPS Including ExtraOrd Items

3.53

1.79

DPS-Common Stock

0.86

0.78

Gross Dividends - Common Stock

7.7

7.0

Normalized Income Before Taxes

46.4

32.8

 

 

 

Inc Tax Ex Impact of Sp Items

11.8

3.5

Normalized Income After Taxes

34.6

29.2

 

 

 

Normalized Inc. Avail to Com.

31.6

26.8

 

 

 

Basic Normalized EPS

3.53

3.00

Diluted Normalized EPS

3.53

3.00

Interest Expense, Supplemental

14.3

10.2

Interest Capitalized, Supplemental

-0.1

-0.4

Advertising Expense, Supplemental

21.7

16.3

R&D Expense, Supplemental

8.2

4.9

Depreciation, Supplemental

55.5

37.8

Amort of Intangibles, Supplemental

2.2

1.4

 

 

 

 

Interim Income Statement

As Reported

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

Period Length

3 Months

3 Months

3 Months

3 Months

3 Months

UpdateType/Date

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Updated Normal
31-Dec-2010

Updated Normal
30-Sep-2010

Reclassified Normal
30-Jun-2011

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate (Period Average)

1083.436022

1120.28956

1132.465591

1183.132366

1164.000484

 

 

 

 

 

 

    Sales Revenue

579.4

489.5

483.8

465.1

514.6

Total Revenue

579.4

489.5

483.8

465.1

514.6

 

 

 

 

 

 

    Cost-Revenue

465.5

390.8

389.8

370.9

411.9

    Salaries and Wages

-

24.0

17.6

20.2

-

    Retirement and Severance Benefits

-

1.3

0.5

0.6

-

    Employee Benefits

-

5.1

4.3

4.2

-

    Travel Expenses

-

3.2

3.4

3.0

-

    Utility Expenses

-

0.4

0.3

0.3

-

    Packaging Expenses

-

2.0

2.0

1.7

-

    Usage Fee

-

2.5

3.0

2.5

-

    Commission Paid

-

12.1

13.8

11.5

-

    Depreciation

-

3.9

3.9

3.5

-

    Advertising Expenses

-

3.8

6.3

4.4

-

    Freight Expenses

-

11.3

12.2

12.3

-

    Training Expenses

-

0.3

0.6

0.5

-

    Amortization of Intangible Assets

-

0.5

0.5

0.5

-

    Sample Expenses

-

3.9

5.7

4.3

-

    Research & Development Expense

-

1.4

2.2

2.3

-

    Other Selling and Administrative Expense

-

13.7

12.0

11.1

-

    Gains on Foreign Currency Transactions

-

-1.7

-5.1

-3.0

-

    Gains on Foreign Currency Translation

-

-3.0

0.0

-0.7

-

    Gain-Disposal of Tangible Assets

-

-2.7

-1.9

-0.6

-

    Recovery-Loan Loss Reserve

-

-2.4

-2.5

-

-

    Income-Sales

-

-

-1.9

-

-

    Other Operating Income

-

-0.4

5.1

-0.4

-

    Other Operating Expense

-

0.4

-2.6

0.6

-

    Losses on Foreign Currency Transactions

-

1.4

4.8

3.5

-

    Losses on Foreign Currency Translation

-

1.8

1.8

0.0

-

    Loss-Disposal of Tangible Assets

-

1.5

2.7

0.2

-

    Selling and Administrative Expenses

99.7

-

-

-

86.8

    Other Operating Income,Total

-6.4

-

-

-

-10.7

    Other Operating Expense

5.5

-

-

-

7.8

Total Operating Expense

564.3

474.8

478.6

453.3

495.8

 

 

 

 

 

 

    Financial Income

2.6

2.6

2.8

2.7

2.6

    Other Non-Operating Revenues

-

-

0.2

-

-

    Financial Expense

-4.3

-4.3

-3.9

-3.9

-3.8

    Other Non-Operating Expenses

-

-

0.6

-0.3

-

    Other Non-Operating Income/Loss

-0.1

-

-1.1

-

-0.2

Net Income Before Taxes

13.2

13.1

3.7

10.3

17.4

 

 

 

 

 

 

Provision for Income Taxes

2.7

3.7

1.2

1.8

4.5

Net Income After Taxes

10.5

9.3

2.5

8.4

13.0

 

 

 

 

 

 

    Minority Interest

0.0

0.2

0.0

0.1

0.2

Net Income Before Extra. Items

10.5

9.5

2.6

8.5

13.2

    Gain on Discontinued Operations

-0.6

-0.3

-0.7

-0.7

-0.4

Net Income

10.0

9.3

1.9

7.8

12.7

 

 

 

 

 

 

    Preferred Dividend

-0.2

-0.2

-0.2

-0.2

-0.2

    Participated Preferred Dividend

-0.8

-0.7

0.1

-0.7

-1.1

Income Available to Com Excl ExtraOrd

9.5

8.6

2.4

7.6

11.8

 

 

 

 

 

 

Income Available to Com Incl ExtraOrd

8.9

8.3

1.7

6.9

11.4

 

 

 

 

 

 

Basic Weighted Average Shares

8.9

8.9

8.9

8.9

8.9

Basic EPS Excluding ExtraOrdinary Items

1.06

0.96

0.27

0.85

1.32

Basic EPS Including ExtraOrdinary Items

1.00

0.93

0.19

0.78

1.27

Dilution Adjustment

0.0

0.0

0.0

0.0

0.0

Diluted Net Income

8.9

8.3

1.7

6.9

11.4

Diluted Weighted Average Shares

8.9

8.9

8.9

8.9

8.9

Diluted EPS Excluding ExtraOrd Items

1.06

0.96

0.27

0.85

1.32

Diluted EPS Including ExtraOrd Items

1.00

0.93

0.19

0.78

1.27

DPS-Common Stock

0.00

0.00

0.88

0.00

0.00

Gross Dividends - Common Stock

0.0

0.0

7.9

0.0

0.0

Normalized Income Before Taxes

13.2

11.8

4.5

9.9

17.4

 

 

 

 

 

 

Inc Tax Ex Impact of Sp Items

2.7

3.4

1.4

1.8

4.5

Normalized Income After Taxes

10.5

8.4

3.0

8.1

13.0

 

 

 

 

 

 

Normalized Inc. Avail to Com.

9.5

7.7

2.9

7.3

11.8

 

 

 

 

 

 

Basic Normalized EPS

1.06

0.86

0.33

0.82

1.32

Diluted Normalized EPS

1.06

0.86

0.33

0.82

1.32

Interest Expense

4.0

3.8

-

-

3.6

Advertising Expense, Supplemental

8.3

3.8

6.3

4.4

7.0

R&D Expense, Supplemental

1.9

1.4

2.2

2.3

2.1

Depreciation, Supplemental

15.4

14.4

14.2

13.7

14.2

Amort of Intangibles, Supplemental

0.7

0.6

0.6

0.6

0.5

 

 

 

 

Annual Balance Sheet

As Reported

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

 

 

31-Dec-2010

31-Dec-2009

UpdateType/Date

Updated Normal
31-Dec-2010

Restated Normal
31-Dec-2010

Filed Currency

KRW

KRW

Exchange Rate

1134.9

1164.475

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

 

 

 

    Cash and CashEquivalents

171.7

190.5

    Trade Receivable

331.1

358.9

    Allowance for Doubtful Accounts for Trad

-11.4

-21.5

    Other Receivables

74.7

43.1

    Prepaid Expenses Total

2.6

2.5

    Advance Payments

5.0

2.0

    Prepaid Income Taxes

0.8

2.8

    Prepaid VAT

7.2

3.8

    Current Financial Assets

0.0

0.0

    Other Current Assets

1.0

0.4

    Merchandises

48.5

42.1

    Finished Goods

32.6

23.4

    Goods in Transit

14.9

9.6

    Raw Materials

19.9

13.1

    Semi-finished Goods

11.8

9.3

    Supplies

2.6

2.3

Total Current Assets

713.1

682.4

 

 

 

    LT Financial Assets

1.6

1.4

    LT Loans and Receivables

15.5

12.1

    Other Investments

0.4

0.6

    Long-term Prepaid Expenses

3.0

3.1

    LT Trade Receivable

3.3

3.0

    Land

64.5

62.2

    Buildings

175.3

156.2

    Depreciation-Buidings

-44.9

-40.4

    Reduction-Buidings

-5.4

-5.3

    Structures

26.7

24.0

    Depreciaiton-Structures

-14.8

-13.6

    Reduction-Structures

-1.4

-1.3

    Tools & Equipments

200.7

187.9

    Tools & Equipments-Depreciation

-131.3

-115.3

    Reduction-Tools

-1.0

-1.9

    Machinery

459.5

445.5

    Depreciation-Equipment

-280.9

-281.0

    Reduction-Equipment

-1.6

-8.1

    Vehicles & Transportation Equipment

4.5

4.0

    Depreciation-Vehicles

-3.2

-2.7

    Fixtures

49.2

43.4

    Fixtures-Depreciation

-34.2

-31.6

    Reduction-Office Equipment

0.0

0.0

    Construction in Progress

91.8

34.0

    Machines in Transit

6.7

4.5

    Industrial Property Rights

5.0

4.0

    Development Cost

4.8

2.6

    Other Intangible Assets

12.5

10.7

    Deferred Income Taxes Assets Non-current

18.4

22.2

    Non-Current Assets Held for Sale

1.0

1.2

Total Assets

1,339.1

1,204.0

 

 

 

    Trade Payable

174.9

166.1

    Other Payables

120.8

119.9

    Accrued Expenses

17.8

15.9

    Income Taxes Payable

1.4

-

    Advance for Customers

3.9

4.6

    Unearned Income

0.6

0.4

    Withholdings

11.8

6.1

    Short-term Borrowings

190.7

121.9

    Liabilities Reserve

3.3

2.6

    Other Current Liabilities

0.1

-

Total Current Liabilities

525.3

437.7

 

 

 

    LT Borrowings

185.9

181.1

Total Long Term Debt

185.9

181.1

 

 

 

    LT Other Payables

1.6

1.5

    LT Other Liabilities

-

0.1

    Deferred Income Taxes Liabilities Non-cu

0.0

-

    Provisions for Retirement and Severance

13.0

10.1

    Minority Interest

6.7

2.6

Total Liabilities

732.6

633.1

 

 

 

    Capital Stock

44.1

42.9

    Capital Surplus

544.7

530.9

    Retained Earnings or Accumulated Deficit

39.0

18.1

    Other Capital Adjustment

-7.2

-7.0

    Accumulated Other Comprehensive Income

-14.1

-13.9

Total Equity

606.5

570.9

 

 

 

Total Liabilities & Shareholders' Equity

1,339.1

1,204.0

 

 

 

    S/O-Common Stock

8.9

8.9

Total Common Shares Outstanding

8.9

8.9

T/S-Common Stock

0.0

0.0

    S/O-Preferred Stock

1.0

1.0

Total Preferred Shares Outstanding

1.0

1.0

T/S-Preferred Stock

0.0

0.0

Deferred Revenue, Current

4.5

5.1

Full-Tme Employees

2,682

2,731

Number of Shareholders

21,251

17,815

LT Debt Due in 1 Year

0.1

26.0

LT Debt Due in 2 Year

-

0.1

LT Debt Due in 3 Year

-

128.9

LT Debt Due in 4 Year

-

51.6

LT Debt -Remaining Maturities

-

1.0

Total Long Term Debt, Supplemental

0.1

207.6

 

 

 

 

Interim Balance Sheet

As Reported

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

 

 

30-Jun-2011

31-Mar-2011

31-Dec-2010

30-Sep-2010

30-Jun-2010

UpdateType/Date

Updated Normal
30-Jun-2011

Updated Normal
31-Mar-2011

Reclassified Normal
31-Mar-2011

Updated Normal
30-Sep-2010

Updated Normal
30-Jun-2010

Filed Currency

KRW

KRW

KRW

KRW

KRW

Exchange Rate

1067.65

1096.95

1134.9

1140.25

1221.965

 

 

 

 

 

 

    Cash and CashEquivalents

138.7

243.9

171.7

149.7

146.1

    Trade Receivable,Net

380.0

-

-

-

-

    Trade Receivable

-

363.6

331.1

329.4

342.9

    Allowance for Doubtful Accounts for Trad

-

-14.8

-11.4

91.4

84.9

    Other Receivables

87.0

58.1

74.7

-

-

    Prepaid Income Taxes

1.3

1.1

0.8

0.8

0.8

    Current Financial Assets

-

0.0

0.0

0.0

0.0

    Other Current Assets

19.7

16.3

15.8

17.6

16.4

    Merchandises

-

51.1

48.5

49.3

45.4

    Finished Goods

-

41.2

32.6

30.3

28.5

    Semifinished Goods

-

14.7

11.8

10.8

9.5

    Raw Materials

-

29.7

19.9

21.8

16.7

    Goods in Transit

-

21.7

14.9

16.0

18.1

    Supplies

-

6.1

2.6

2.8

3.5

    Inventories

193.4

-

-

-

-

Total Current Assets

820.1

832.7

713.1

719.9

712.7

 

 

 

 

 

 

    Long-term Trade Receivables

0.6

0.5

3.3

3.3

3.0

    Long-term Loans

-

0.4

0.4

12.6

11.8

    Long-term Financial assets

1.6

1.7

1.6

1.7

2.4

    LT Loans and Receivables

15.0

-

-

-

-

    Other Non-current Assets

3.7

3.6

3.4

-

-

    Deposits Provided

-

16.4

15.1

-

-

    Long-term Financial Deposit

-

0.0

0.0

-

-

    Investment in Affiliates

6.3

-

-

-

-

    Buildings, Net

-

-

-

120.2

112.5

    Structures, Net

-

-

-

9.2

8.8

    Machinery, Net

-

-

-

169.0

158.0

    Vehicles & Transportation Equipment, Net

-

-

-

1.3

1.3

    Tools, Net

-

-

-

72.1

67.7

    Office Equipment, Net

-

-

-

14.2

13.4

    Property, Plant and Equipment

648.7

-

-

-

-

    Land

-

66.7

64.5

63.5

59.3

    Buildings

-

191.1

175.3

-

-

    Accumulated Depreciation for Buildings

-

-47.2

-44.9

-

-

    Buildings-Reduction

-

-5.6

-5.4

-

-

    Structures

-

27.9

26.7

-

-

    Structures-Depreciation

-

-15.5

-14.8

-

-

    Structures-Reduction

-

-1.4

-1.4

-

-

    Machinery

-

491.1

459.5

-

-

    Accumulated Depreciation for Machinery

-

-295.1

-280.9

-

-

    Accumulated Impairment Losses for Machin

-

-1.6

-1.6

-

-

    Vehicles & Transportation Equipment

-

4.7

4.5

-

-

    Accumulated Depreciation for Vehicles

-

-3.4

-3.2

-

-

    Tools & Equipments

-

196.3

200.7

-

-

    Tools & Equipments-Depreciation

-

-126.5

-131.3

-

-

    Tools & Equipments-Reduction

-

-0.1

-1.0

-

-

    Fixtures

-

51.7

49.2

-

-

    Fixtures-Depreciation

-

-36.2

-34.2

-

-

    Fixtures-Reduction

-

0.0

0.0

-

-

    Construction in Progress

-

104.7

91.8

64.8

34.2

    Machines in Transit

-

25.6

6.7

10.8

9.0

    Industrial Property Rights

-

5.6

5.0

4.7

4.2

    Development Cost

-

5.0

4.8

4.2

3.9

    Other Intangible Assets

-

12.8

12.5

12.5

11.7

    Other Fixed Assets

-

-

-

3.5

3.4

    Deferred Income Taxes Assets Non-current

14.7

16.2

18.4

22.6

20.3

    Non-Current Assets Held for Sale

1.0

1.0

1.0

1.0

1.0

    Intangible Assets

23.9

-

-

-

-

Total Assets

1,535.6

1,523.2

1,339.1

1,311.1

1,238.6

 

 

 

 

 

 

    Trade Payable

219.7

253.2

174.9

160.8

174.8

    Other Payables

-

136.0

120.8

135.6

132.7

    Accrued Expenses

-

24.0

17.8

-

-

    Income Taxes Payable

0.6

1.5

1.4

7.1

7.6

    Current Portion of Long-term Liabilities

-

0.1

0.1

-

0.1

    Reserve for Current Liabilities

2.8

2.7

3.3

3.3

3.1

    Short-term Borrowings

389.6

224.1

190.6

184.7

157.4

    Other Current Liabilities

15.5

20.5

16.5

11.9

13.9

    Current Portion of Bonds

-

136.6

-

-

-

    ST Account Payable and Other Payables

159.3

-

-

-

-

Total Current Liabilities

787.7

798.7

525.3

503.4

489.5

 

 

 

 

 

 

    Bonds

-

54.6

184.7

-

171.4

    Long-term Borrowings

77.6

21.0

1.2

185.0

1.2

Total Long Term Debt

77.6

75.6

185.9

185.0

172.6

 

 

 

 

 

 

    Long-term Accrued Expenses

-

-

-

2.6

2.1

    LT Other Payables

-

-

1.6

-

-

    Deferred Income Taxes Liabilities Non-cu

0.0

0.0

0.0

-

-

    Provisions for Retirement and Severance

17.2

15.7

13.0

7.4

5.1

    Minority Interest

0.8

6.7

6.7

6.7

5.7

    Other Long-term Liabilities

0.1

0.1

-

-

-

    LT Account Payable and Other Payables

0.0

-

-

-

-

Total Liabilities

883.4

896.9

732.6

705.2

675.1

 

 

 

 

 

 

    Common Stock

-

-

-

43.9

36.7

    Preferred Stock

-

-

-

-

4.2

    Capital Stock

46.8

45.6

44.1

-

-

    Capital Surplus

579.0

563.6

544.7

542.1

505.9

    Retained Earnings or Accumulated Deficit

52.1

40.9

39.0

41.5

33.2

    Accumulated Other Comprehensive Income

-18.1

-16.2

-14.1

-14.4

-9.8

    Other Capital Adjustments in Capital Adj

-7.7

-7.5

-7.2

-7.2

-5.1

    Treasury Stock

-

-

-

-

-1.6

Total Equity

652.3

626.3

606.5

605.9

563.6

 

 

 

 

 

 

Total Liabilities & Shareholders' Equity

1,535.6

1,523.2

1,339.1

1,311.1

1,238.6

 

 

 

 

 

 

    S/O-Common Stock

8.9

8.9

8.9

8.9

8.9

Total Common Shares Outstanding

8.9

8.9

8.9

8.9

8.9

T/S-Common Stock

0.0

0.0

0.0

0.0

0.0

    S/O-Preferred Stock

1.0

1.0

1.0

1.0

1.0

Total Preferred Shares Outstanding

1.0

1.0

1.0

1.0

1.0

T/S-Preferred Stock

0.0

0.0

0.0

0.0

0.0

Full-Time Employees

-

2,723

2,682

2,721

2,714

Number of Common Shareholders

-

-

21,251

-

-

Long Term Debt Maturing within 1 Year

-

136.7

-

-

0.1

Long Term Debt - Remaining Maturities

-

-

-

-

172.6

Total Long Term Debt, Supplemental

-

136.7

-

-

172.7

 

 

 

 

Annual Cash Flows

As Reported

Financials in: USD (mil)

 

Except for share items (millions) and per share items (actual units)

 

 

 

 

 

 

 

 

 

31-Dec-2010

31-Dec-2009

Period Length

12 Months

9 Months

UpdateType/Date

Updated Normal
31-Dec-2010

Restated Normal
31-Dec-2010

Filed Currency

KRW

KRW

Exchange Rate (Period Average)

1156.281981

1276.385219

Auditor

PricewaterhouseCoopers LLP

PricewaterhouseCoopers LLP

Auditor Opinion

Unqualified with Explanation

Unqualified with Explanation

 

 

 

Net Income

46.5

20.0

    Depreciation

55.5

37.8

    Amortization of Intangibles

2.2

1.4

    Expenses of Allowance for Doubtful Accou

-

1.5

    Retirement and Severance Benefits

6.7

7.2

    Loss-Reduction of Tangible Assets

0.0

7.7

    Gain/Loss on Foreign Currency Translatio

-0.8

0.7

    Gain/Loss on Sale of Property, Plant and

-2.0

9.6

    Gain/Loss on Sale of Intangible Assets

0.1

0.4

    Interest Income

-7.5

-4.1

    Dividend Income

0.0

-

    Interest Expenses

14.4

10.6

    Recovery-Doubtful Credit Reserve

-2.4

-

    Others

-2.4

2.9

    Trade Receivables

23.4

-166.2

    Other Receivables

-1.2

-15.6

    Other Current Assets

-3.0

-4.0

    Cumulative Assets outside Company

4.9

-5.4

    Increase-Other Non-Current Assets, Opera

0.1

-2.0

    Inventories

-29.1

17.9

    Trade Payables

6.5

106.8

    Other Payables & Liabilities

-1.6

33.1

    LT Other Payables&Liabilities

-0.1

1.4

    Other Current Liabilities

1.7

3.1

    Payment-Retirement Allowance

-18.1

-8.0

    Provision-Retirement Allowance

0.7

0.5

    Cash-Interest Received

6.4

4.4

    Cash-Interest Paid

-11.9

-7.6

    Cash-Tax Paid

-1.1

-7.0

    Dividends Received

0.0

-

Cash from Operating Activities

87.7

47.2

 

 

 

    Decrease-Financial Deposit

43.9

31.3

    Decrease in Short-term Loans

10.7

0.0

    Proceeds from Sale of ST Financial Asset

0.0

-

    Proceeds from Sale of Long-term Financia

-

0.0

    Decrease-LT Loans and Receivables

1.4

2.6

    Decrease-Assets Held for Sale

0.3

-

    Decrease-Other Non-Current Assets

0.3

0.2

    Proceeds from Sale of Property Plant and

16.1

8.9

    Decrease-Intangible Assets

0.1

0.0

    Increase-Financial Deposit

-75.2

-50.1

    Increase in Short-term Loans

-7.0

-3.4

    Increase-LT Loans and Receivables

-4.5

-2.6

    Purchase of Short-term Financial Assets

-

0.0

    Purchase of Long-term Financial Assets

0.0

-

    Purchase of Property, Plant and Equipmen

-161.0

-63.7

    Purchase of Intangible Assets

-1.6

-1.2

    Increase-Other Non-Current Assets

-0.1

0.0

Cash from Investing Activities

-176.6

-77.9

 

 

 

    Increase-Borrowings

356.3

57.8

    Increase-Minority Interest

4.6

2.3

    Purchase of Treasury Stock

-

-1.6

    Redemption-Borrowings

-287.2

-31.4

    Payments in Dividends

-8.7

-

    Decrease-Minority Interest

-

-4.5

    Expense for Stock Issuance

-

0.0

Cash from Financing Activities

65.1

22.6

 

 

 

Foreign Exchange Effects

0.5

-2.2

Net Change in Cash

-23.3

-10.2

 

 

 

    Cash Interest Paid

11.9

7.6

    Cash Taxes Paid

1.1

7.0

Cash and Cash Equivalent at Beginning

191.8

184.0

Cash and Cash Equivalent at End

168.6

173.8

 

 

 

Bottom of Form

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.07

UK Pound

1

Rs.77.42

Euro

1

Rs.67.72

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                 Payment record (10%)

Credit history (10%)                    Market trend (10%)                                Operational size (10%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.