Display equipment maker Youngwoo DSP said on Tuesday that it posted operating income of 4.8 billion won and sales of 36.1 billion won.
It is a jump of 234% and 97%, respectively, from the same time period a year ago.
Accumulated earnings up to the third quarter of 2020 this year was 7.6 billion won in operating income and 74.4 billion won in sales.
Customer’s increased investment and cost saving efforts increased profitability, Youngwoo DSP said.
In July, the company signed a 38 billion won deal with CSOT and another with Tianma worth 6.5 billion won to supply OLED inspection equipment.
Mobile and home electronics market has recovered that led to increased demand for display inspection equipment.
Youngwoo said it expected growth going forward due to the expansion of the worldwide OLED market.