[Edaily Reporter Choi Oh-hyun ] LX Semicon posted an operating loss of 15.6 billion won in the third quarter of this year, slipping into the red. Profitability also deteriorated as revenue fell by nearly 15% compared to the same period last year.

On the 3rd, LX Semicon announced in a regulatory filing that its consolidated revenue for the third quarter of this year was provisionally estimated at 336 billion won, with an operating loss of 15.6 billion won.

Revenue fell 14.8% compared to the same period last year (394.4 billion won). It also decreased by 16.2% compared to the previous quarter, the second quarter of this year (401.2 billion won). Operating profit turned from a 14 billion won profit in the third quarter of last year to a 15.6 billion won loss this year. Although the company posted an operating profit of 22 billion won in the second quarter of this year, it slipped into the red in just one quarter.

Net income also turned negative. LX Semicon posted a net loss of 11.2 billion won in the third quarter of this year. This stands in contrast to the net profit of 10.1 billion won recorded during the same period last year. In the previous quarter, the company had reported a net profit of 17.9 billion won.

Due to the third-quarter operating loss, cumulative operating profit for the first three quarters of this year stood at 27 billion won, a sharp 67.8% decline from the same period last year (84 billion won). Cumulative net income also fell 71.9% year-over-year to 17.9 billion won, compared to 63.8 billion won in the same period last year.

LX Semicon is a South Korean fabless semiconductor design company specializing in the design of display driver ICs (DDIs) and power management ICs (PMICs).