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Tuesday, Apr 83:24 AM
Tuesday, Apr 83:24 AM| 1 Comment
- Samsung's (SSNLF) Q1 operating profit fell for the second quarter in a row in Q1, dropping a preliminary 4.3% to 8.4T won ($7.96B) and vs consensus of 8.5T won.
- Sales rose slightly to 53T won from 52.87T won and vs expectations of 54.58T won.
- Samsung released its Q1 estimates ahead of the global launch of the Galaxy S5 on Friday amid criticism that the device doesn't have any overly interesting new features.
- Shares fell 0.2% in Seoul. (PR)
Friday, Jan 242:08 PM
Friday, Jan 242:08 PM| Comment!
- Chip equipment stocks aren't getting spared from a general market selloff after Samsung (SSNLF - the world's #2 chipmaker) guided for its 2014 chip capex to be flat Y/Y. AMAT -1.6%. LRCX -3.7%. ASML -0.7%. UTEK -2.2%. RTEC -3.2%. MTSN -5.1%.
- Industry analyst Robert Marie observes this is the first time since 2009 that Samsung hasn't upped its chip capex budget. With Intel and TSMC (the industry's two other big clients) also guiding for capex to be flat (if not down) this year, Marie is cautious about 2014 growth, even though others have forecast sales will rebound sharply this year following a rough 2013.
- KLA-Tencor (KLAC -2.2%) is joining the selloff even though the company posted an FQ2 EPS beat yesterday afternoon, and provided healthy FQ3 guidance - revenue of $790M-$850M and EPS of $1-$1.20 vs. a consensus of $814.5M and $1.11 - on its CC (transcript). KLA also forecast FQ3 bookings will be in a range of $700M-$800M (implies 10% Q/Q growth at the midpoint), and struck an upbeat tone about 2014 investments in 20nm and 3D NAND flash capacity.
- KLA still expects 10%+ industry growth this year, but admits its outlook is "slightly weaker" than it was three months ago. The company also believes industry adoption of EUV lithography (important for ASML) has generally been pushed out to the 7nm process node from the 10nm node.
Friday, Jan 242:21 AM
Friday, Jan 242:21 AM| 8 Comments
- Samsung's (SSNLF) net-profit growth slowed significantly in Q4, rising 5.4% on year to 7.3T ($6.7B) won vs an increase of 25.6% in Q3.
- Sales increased 5.7% from a year earlier to 59.3 trillion won.
- Operating profit -6% to 8.31T won, the first drop in two years.
- The company warned that it will be "challenging" to improve its earnings in Q1, "as the weak seasonality of the IT industry will put pressure on demand for components and TV products."
- The strength of the Korean won hurt earnings by 700B won ($651M), and the company took an 800B won one-time charge related to employee bonuses.
- Operating profit at Samsung's mobile unit was flat on year at 5.47T won but down from a record 6.7T won in Q3, hurt by the release of new iPhones.
- Samsung expects Q1 smartphone shipments to rise at a "mid-single digit" pace on quarter and tablet shipments at a "high single-digit" rate.
- Further operating profit breakdown: chip division rose to 1.99T won from 1.42T won a year earlier; display plunged 90% to 110B won, dragged down by weaker-than-forecast sales of the Galaxy S4 and poor demand for TVs; consumer-electronics dropped to to 660B won from 700B won.
- Samsung intends to spend a similar amount on capex in 2014 as in 2013, when it invested 23.8T won.
- Shares closed +3% in Seoul.
Tuesday, Jan 72:22 AM
Tuesday, Jan 72:22 AM| 7 Comments
- Samsung (SSNLF) suffered its first fall in profits in nine quarters in Q4, with the company's operating income dropping to a provisional 8.1-8.5T won ($7.6-8B) from 8.84T won a year earlier and missing consensus of 10T won.
- Revenue increased 5.3% to 58-60T won from 56.1T won but undershot forecasts of 61.5T and represented the slowest growth since 2011.
- The decline in profits comes amid stiff competition at the high and low ends of the smartphone market, and after greater-than-expected bonus payments to workers.
- Samsung's full results are due out on January 24.
- Shares dropped 0.2% in Seoul. (PR)
Friday, Oct 252013, 2:21 AM
Friday, Oct 252013, 2:21 AM| Comment!
- Samsung's (SSNLF, SSNGY) Q3 net profit, excluding minority interest, jumped 25% to 8.05T won ($7.76B), above forecasts of 7.94T won.
- Sales climbed 13.2% to 59T won.
- Operating profit +26% to 10.16T won, but that represents a slowdown from 47.5% growth in Q2.
- Operating profit at the mobile unit rose 19% to 6.7T won, with smartphone shipments climbing in the "mid-10% range" and tablet sales in the "mid-20%" range.
- Operating profit at the chip division more than doubled to a three-year high of 2.06T won, boosted by stronger chip prices and tighter supply
- Income at the consumer-electronics division dropped to 3450B won from 400B won, while earnings at the display division fell to 980B won from 1.17T.
- Samsung expects an extra $1.5T won ($1.4B) payment from Corning (GLW) after the latter agreed to acquire the South Korean company's display unit out of their LCD glass joint venture.
- Samsung's shares -0.2% in Seoul. (PR)