Hanaro Posts Record-High Revenues of KRW 451.1 Billion for the First Quarter of 2007
08 Mayo 2007 - 9:04PM
PR Newswire (US)
-- Operating profit turned positive, amounting to KRW 12.4 billion
SEOUL, South Korea, May 8 /PRNewswire-FirstCall/ -- hanarotelecom
incorporated (KOSDAQ: 033630) (NASDAQ:HANA) ("Hanaro" or the
"Company"), Korea's leading integrated telecommunications company,
announced on May 9, 2007 that the Company achieved the highest-ever
quarterly revenues of KRW 451.1 billion, and operating profit
turned positive, amounting to KRW 12.4 billion for the first
quarter of 2007. (Refer to Table - 1Q 2007 Financial Highlights)
Hanaro explained that revenues increased 4.6% quarter on quarter
owing to robust growth across all business segments including
broadband, voice and corporate business. The Company added that
EBITDA increased 13% to KRW 140.1 billion on the back of revenue
growth and the efficient execution of marketing expenses. Net loss
decreased 80% from the previous quarter to KRW 9.6 billion. Hanaro
also stated that strong subscriber growth continued, with broadband
net adds of 34,000 and voice net adds of 73,000 for the first
quarter, backed by marketing activities focused on bundled
products. In addition, the Company said that the 100Mbps service
coverage expanded to 7.3 million households as of the end of 1Q07
from 4.3 million households as of the end of 2006, on the right
track to achieve the full-year target of 12.6 million households,
and the number of 100Mbps broadband subscribers exceeded 1 million
in the first quarter on the back of such coverage expansion.
Meanwhile, hanaTV and corporate business, the two areas that the
Company announced it would foster as new growth engines this year,
delivered strong results. The number of hanaTV subscribers grew by
230,000 in the first quarter, reaching 380,000 activated
subscribers on a cumulative basis, while revenues of IDC and
NI/Solution rose by 20% quarter on quarter and 80% year on year,
increasing the proportion of corporate business revenues to 24% of
the total revenues. Chief Financial Officer Janice Lee said, "By
building a solid foundation for stable growth in core businesses
including broadband and voice and fostering new growth engines such
as hanaTV and corporate business, we will achieve revenue growth
and transform into a company that can generate sustainable
profits." "In particular, we will expand our subscriber base
through marketing campaigns focused on bundled products while
strengthening our position as a leading player in the
communications-media convergence market through hanaTV," she added.
Table -- 1Q 2007 Financial Highlights (Unit: KRW billion) 1Q 2007
4Q 2006 Change 1Q 2006 Change (q-q) (y-y) Revenues 451.1 431.3 4.6%
432.3 4.3% Operating 12.4 -3.3 turned 16.0 -22.8% Profit positive
Net Income -9.6 -45.9 loss -6.1 loss continued continued EBITDA
140.1 124.1 12.9% 142.8 -1.9% Contacts : hanarotelecom incorporated
Investor Relations 822-6266-4524 / 4473 - or - Taylor Rafferty, New
York Reema Parikh 1-212-889-4350 Taylor Rafferty, London Stewart
Taylor 44-20-7614-2900 DATASOURCE: hanarotelecom incorporated
CONTACT: Investor Relations, hanarotelecom incorporated,
+1-822-6266-4524, +1-822-6266-4473, or ; or Reema Parikh, of Taylor
Rafferty, New York, +1-1-212-889-4350 or Stewart Taylor of Taylor
Rafferty, London, 44-20-7614-2900, or both for hanarotelecom
incorporated
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