[Asia Economy Reporter Hyungsoo Park] Non-memory semiconductor company NCITRON announced on the 18th that it has escaped from the management item status. Last year, it recorded an operating profit based on individual financial statements, and the loss from continuing operations before income tax expenses did not exceed 50% of its equity capital.
Earlier, the Korea Exchange KOSDAQ Market Headquarters announced on the 17th that NCITRON's affiliated department was changed to the mid-sized enterprise division following the removal from the management item status. Previously, NCITRON was designated as a management item due to ▲losses from continuing operations before income tax expenses exceeding 50% of equity capital in 2 out of the last 3 fiscal years ▲and operating losses for 4 consecutive years.
A company official explained, "We turned to profitability by improving sales of non-memory semiconductors and the profit structure," adding, "We are receiving pre-order inquiries from multiple Chinese TV companies."
NCITRON is a leading domestic company specializing in non-memory semiconductors related to audio. It supplies semiconductors to global TV and home appliance companies such as China's TCL and Hisense, as well as LG Electronics.
An NCITRON official emphasized, "We are actively responding to customers' demands for expanded supply by securing stable production volumes," and added, "We are also conducting sales activities to acquire new clients."
He continued, "Along with stable growth of existing businesses, we will discover new businesses with high future growth potential to expand corporate value."
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