On Monday, LS Electric Co. announced a third-quarter net income of 40.6 billion won (US$30 million), a massive 194.6 percent increase from the same period last year.
The company also revealed that its operating profit for the quarter was 70.1 billion won, a jump from the 60.7 billion won seen in the same quarter of the previous year. Revenue also saw a 21.9 percent boost to 1.02 trillion won.
However, the earnings failed to meet analyst expectations. According to a survey done by Yonhap Infomax, the financial data firm of Yonhap News Agency, the average prediction for net profit was 45.5 billion won.