[Asia Economy Reporter Hyunseok Yoo] NCN announced on the 13th that it recorded separate basis sales of 17.6 billion KRW, operating profit of 1.2 billion KRW, and net profit of 600 million KRW in the second quarter, marking six consecutive quarters of operating profit.
On a consolidated basis, the company posted sales of 18 billion KRW, operating loss of 3.4 billion KRW, and net loss of 3.5 billion KRW, reducing the loss compared to the previous quarter. Considering that this period was when the impact of the novel coronavirus infection (COVID-19) was fully felt, the company described the performance as a solid result.
A company official stated, “Although there were difficulties due to COVID-19, currently NCN’s domestic black box sales are showing a clear upward trend, and Nextchip is gradually ramping up sales by supplying automotive semiconductors to domestic and overseas automakers,” adding, “NCN’s domestic black box volume is steadily increasing, and starting from August, shipments to Japan have begun, so second-half sales are expected to increase compared to the first half.”
Kim Kyungsoo, CEO of NCN, said, “Although there were difficulties in the first half due to COVID-19, we are overcoming the crisis well,” and added, “In the second half, we expect better results through increased sales and cost reduction at NCN.”
A company official explained that Nextchip faced difficulties in the first half due to factory shutdowns of automotive manufacturers (OEMs), but sales are expected to increase significantly in the second half compared to the first half.
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