NEXTEYE turns into a surplus of operating profit and net profit separately in the first quarter， "Increase in domestic and foreign orders."

NEXTEYE turns into a surplus of operating profit and net profit separately in the first quarter， "Increase in domestic and foreign orders."

On the 16th of May 2022, NEXTEYE (137940) announced that its operating profit in the first quarter of 2022 was 600 million won, turning into a surplus compared to the same period last year.

During the same period, the company posted a surplus of 3.1 billion won and sales of 4.5 billion won, up 66 percent from the same period last year.

Based on consolidated financial statements in the first quarter, it recorded 6.3 billion won in sales, 900 million won in operating losses, and 1.4 billion won in net profit.

The cosmetics division is expected to increase exports through SOMIGO, one of the top eight duty-free companies in China, which is a duty-free shopping platform affiliated with Wangfujing Group and BTG HomeInns Hotels Group. Earlier this year, NEXTEYE was selected as an exclusive supplier in Korea by SOMIGO.

"Most of the orders received in the machine vision inspection equipment business at the end of last year were carried over to this year," a NEXTEYE official said. "It is expected that domestic and foreign orders will continue to increase this year due to increased investment in film and OLED inspectors."

NEXTEYE supplies industrial visual inspection equipment to more than 100 domestic and foreign companies, including Guangzhou SHANJIN, a subsidiary of China SHANSHAN Group, and NITTO DENKO of Japan. According to cooperation with Mind's Eye this year, a subsidiary specializing in THz(Terahertz) automated inspection equipment, will be expanded to strengthen the synergy between inspection equipment business units.

A company official said, "China is expected to slow down its blockade measures this month, and it is expected to contribute greatly to sales after normal operation." Also, "We are expanding our cosmetics exports to the U.S. and Singapore as well as China, and we expect to see tangible results from the second quarter through active marketing."