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Koh Young Reports Strong Quarterly Results; Revenue Up 13%
May 23, 2018 | Koh Young TechnologyEstimated reading time: 2 minutes
Koh Young Technology, the market leader for 3D inspection, once again demonstrated its leadership by posting record first quarter revenue – up 13% year-over-year. Driven by strong AOI (Automated Optical Inspection) growth, especially in automotive and industrial markets, as well as with new customers, Koh Young began a successful 2018 with double-digit growth.
Soaring 3D AOI Business
The revenue came in part due to increasing contribution from its 3D AOI business, which grew over 20 percent year-on-year. Specifically, the flagship Zenith series demonstrated increasing market acceptance. Coupled with powerful KSMART software, the Zenith series quickly converts enormous amount of real data into tangible information, which helps engineers gain detailed insight about the process. Building on the Zenith’s success, Koh Young unveiled the next-generation Zenith2 3D AOI at last year’s Productronica. The evolutionary platform expanded inspection capabilities with new enhancements.
Innovation Keys to Success
The company has been growing incredibly fast over the past three years with sales grew nearly 40 percent to over 20 billion Korean Won, while operating income grew 87 percent to nearly 44 billion Won. Innovation has been a major driver behind this robust growth. Since introducing the world’s first 2-way 3D SPI in 2004, Koh Young has continued pushing into new frontiers and driving innovation across many industries. With its unique culture of innovation, Koh Young continues to raise industry expectations with disruptive technologies that challenge the limits of inspection and measurement. With its efforts being recognized globally, Koh Young has become the first South Korean company to be included by Robo Global’s “Robotics and Automation Index ETF.” As of December 31, 2017, Robo Global owned 3.7 percent of the shares.
Reinforcing Technological Capabilities
Looking ahead to future success, Koh Young expects to expand its footprint beyond the surface mount industry by reinforcing its technological capabilities. Nearly half of all its employees – 521 as of March 2018 – directly involved with the Koh Young R&D centers worldwide. With such focus, the company has over 400 patent licenses with over 200 more patents pending.
Further reinforcing its technological capabilities, Koh Young has recently moved to a new 25,826 square-foot Research & Design center in the city of Yongin. The company expects to strengthen its leadership in SMT industry and create innovative products and solutions with state-of-the-art research labs for collaborative areas on the new facilities.
As the absolute leader in SPI and AOI, SMT China recently presented Koh Young Technology with the Vision Award for the Zenith 3D AOI for advancing the SMT industry with innovative process technologies. It was one of only six Vision Award winners within the Inspection & Testing category.
About Koh Young Technology, Inc.
Koh Young Technology Inc., the leading 3D measurement-based inspection equipment and solutions provider, performs an essential role for quality control and process optimization across a growing set of industries including printed circuit board assembly, machining and assembly process manufacturing, semiconductor manufacturing, and various medical fields. In addition to its corporate headquarters in Seoul, Koh Young has sales and support offices in Germany, Japan, Singapore, China, and the United States. These local facilities ensure it maintains close communications with its growing customers base, while providing them with access to a global network of process experts. For more information, click here.
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