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Dow Chemical posts loss for quarter

2013-01-31 20:12:39| Chemicals - Topix.net

Dow Chemical saw significant deterioration in key markets during the fourth quarter, particularly in China, and posted a wider fourth-quarter loss Thursday.

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Ericsson posts Q4 loss on ST-Ericsson charges, sales up 5%

2013-01-31 08:50:00| Telecompaper Headlines

(Telecompaper) Ericsson reported a net loss for the fourth quarter, hurt by charges for its planned exit of the ST-Ericsson venture, while sales at the network equipment maker improved. Revenues were up 5 percent from a year earlier and 23 percent higher versus the third quarter at SEK 66.9 billion. Operating profit excluding joint ventures rose 17 percent year-on-year to SEK 4.8 billion, helping the margin improve to 7.1 percent from 6.4. The net result was a loss of SEK 6.3 billion, which includes SEK 8.0 billion in charges for ST-Ericsson and SEK 0.5 billion for a reduction in deferred tax assets due to the cut in tax rates in Sweden. Ericsson improved operating cash flow to SEK 15.7 billion in the quarter and finished the year with total cash of SEK 38.5 billion. The company raised its dividend for 2012 to SEK 2.75 per share from SEK 2.50 a year ago.

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LG posts Q4 loss on fine; mobile sales improve

2013-01-30 08:51:00| Telecompaper Headlines

(Telecompaper) LG Electronics reported a net loss of KRW 468 billion (USD 429 million) for the fourth quarter, hurt by a fine over CRT pricing from the EU. Revenues were down 2.2 percent from a year earlier to KRW 13.50 trillion, as growth in mobile phones was offset by weaker sales of consumer electronics and appliances. Operating profit improved to KRW 107 billion from KRW 86 billion thanks to cost reductions. LG's mobile division improved sales 1.3 percent year-on-year and 14.9 percent from the previous quarter to KRW 2.81 billion. The company shipped 15.4 million phones in the three months to December, up 7 percent from Q3, and smartphone sales rose 23 percent on a sequential basis to 8.6 million units. LG said its premium LTE smartphones such as the Optimus G and Vu:2 increased sales in the quarter, as did the L-series and Google Nexus 4. With more European and emerging markets introducing LTE services this year, LG plans to increase smartphone revenues and market share by launching follow-up devices to the Optimus G and the L-series as well as the new mass-market LTE F-series. The division moved to an operating profit of KRW 56 billion for the quarter, versus a loss of KRW 3 billion a year earlier.

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