Samsung Electronics Announces Earnings Guidance for Second Quarter 2009
Consolidated Revenues range from 31 to 33 trillion Korean won, Operating Profit from 2.2 to 2.6 trillion won.
SEOUL, Korea: Samsung Electronics Co., Ltd. announced earnings guidance for the second quarter ended June 30, 2009. The estimated range for revenues was 31 to 33 trillion Korean won on a consolidated basis, while operating profit was expected to range from 2.2 to 2.6 trillion Korean won.
This is the first time Samsung Electronics has provided earnings guidance ahead of its quarterly earnings announcement. Samsung indicated that it plans to provide earnings guidance within several days following the end of each quarter in the future.
Samsung believes that growing interest in the company’s quarterly earnings and competing forecasts have led to more confusion in the market ahead of the recent earnings release announcements.
Samsung expects that providing earnings guidance would help not only minimize speculations in the market but also help enhance company transparency and provide investors with a more accurate expectation of the earnings.
Samsung also stressed that the earnings guidance may differ from the earnings announcement as the audit for the period has not yet been completed.
Samsung Electronics plans to announce its earnings for the second quarter on July 24.
About Samsung Electronics
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2008 consolidated sales of US$96 billion. Employing approximately 164,600 people in 179 offices across 61 countries, the company consists of two business units: Digital Media & Communications and Device Solutions. Recognized as one of the fastest growing global brands, Samsung Electronics is a leading producer of digital TVs, memory chips, mobile phones and TFT-LCDs. For more information, please visit www.samsung.com.
SEOUL, Korea: Samsung Electronics Co., Ltd. announced earnings guidance for the second quarter ended June 30, 2009. The estimated range for revenues was 31 to 33 trillion Korean won on a consolidated basis, while operating profit was expected to range from 2.2 to 2.6 trillion Korean won.
This is the first time Samsung Electronics has provided earnings guidance ahead of its quarterly earnings announcement. Samsung indicated that it plans to provide earnings guidance within several days following the end of each quarter in the future.
Samsung believes that growing interest in the company’s quarterly earnings and competing forecasts have led to more confusion in the market ahead of the recent earnings release announcements.
Samsung expects that providing earnings guidance would help not only minimize speculations in the market but also help enhance company transparency and provide investors with a more accurate expectation of the earnings.
Samsung also stressed that the earnings guidance may differ from the earnings announcement as the audit for the period has not yet been completed.
Samsung Electronics plans to announce its earnings for the second quarter on July 24.
About Samsung Electronics
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2008 consolidated sales of US$96 billion. Employing approximately 164,600 people in 179 offices across 61 countries, the company consists of two business units: Digital Media & Communications and Device Solutions. Recognized as one of the fastest growing global brands, Samsung Electronics is a leading producer of digital TVs, memory chips, mobile phones and TFT-LCDs. For more information, please visit www.samsung.com.
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