Pantech expects yearly sales to rise
Pantech Co. posted a net loss last year due to a slowdown in sales, but expects to see its bottom line improve this year thanks to brisk handset sales at home and abroad, a company spokesperson said yesterday. The company registered a net loss of 20.3 billion won ($20.7 million) in 2005, according to a regulatory filing. Its sales were 655.1 billion won, with an operating loss of 42.3 billion won. Comparison figures for the previous year were not available because last year the company merged with SKY Teletech, a unit of SK Telecom Co., the nation’s largest mobile service operator. Pantech shares plummeted 7.6 percent to 4,350 won on the Seoul bourse yesterday; the earnings report was released after trading ended.
with the Korea JoongAng Daily
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