(LEAD) LIG D&A Shifts to Red in Q3 on Facility Expansion Costs
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4 Articles
LIG Defense & Aerospace (LIG D&A) posted earnings that fell significantly short of market expectations for the third quarter of this year. Although sales of the Cheongung-II missile system exported to the Middle East increased, operating profit fell by nearly 25% compared to last year due to rising R&D expenses and labor costs. A deficit by its U.S. robotics subsidiary, Ghost Robotics, also dragged down profitability. On the 6th, LIG D&A reporte…
(Seoul = Yonhap News) KOSPI-listed company LIG Defense & Aerospace [079550] reported a consolidated operating profit of 67.6 billion won for the third quarter of this year, up 24... from the same period last year.
[Digital Daily Reporter Kim Yoo-jin] Although LIG Defense & Aerospace saw a slight increase in revenue in the third quarter of this year, profitability deteriorated as operating profit fell by approximately 25% due to factors such as an expanded proportion of R&D business and rising selling and administrative expenses. LIG D&A announced on the 6th that it recorded revenue of 1.0713 trillion won and an operating profit of 67.6 billion won in the…
(LEAD) LIG D&A shifts to red in Q3 on facility expansion costs
(ATTN: UPDATES throughout with more details; CHANGES headline; ADDS photo, byline)By Kim Eun-jungSEOUL, Nov. 6 (Yonhap) -- South Korean defense company LIG Defense & Aerospace Co. (D&A) said Friday it swung to a net loss in the third quarter, weighed
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