Lite-On Tech reports third-quarter net profits of NT$2.1billion, up 52% QoQ, with gross and operating margin hitting record high in six years

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Press Releases

2008/10/29

Lite-On Technology Corporation (2301.TW) today announced its third quarter net profits of NT$2.1 billion, or EPS of NT$ 0.95, up 52% quarter on quarter, reaching record high this year thanks to strong growth from high-margin products, including power supply, imaging products and optoelectronic components. In addition, gross margin and operating margin both came to a six-year record high. As of third quarter, revenue has totaled NT$ 116.8 billion with net profit reported NT$4.1 billion or EPS of NT$1.86.

In the third quarter, Lite-On Tech posted worldwide consolidated revenue of NT$38.3 billion, growing sequentially from previous quarter. The consolidated revenue hit record high attributed to the stable growth of core business units, including power supply, imaging products and optoelectronic components, regardless of the Digital Display Business Unit sales disposed to Wistron on 31st of August. In the third quarter, the gross profit and operating income were NT$4.6 billion (12.1%) and NT$ 1.9 billion (4.9%) with 23% and 86% growth respectively from the prior quarter. Both gross and operating margin posted record high in six years, as a results of better product-mix and ongoing efficiency improvement.

Lite-On Tech will be committed to focusing on the growth of core business, improving its product portfolio, operation efficiency and internal resources integration to further strengthen its leading position as an optoelectronic components supplier globally.

The board of directors approved another treasury stock plan for employee stock option on Oct. 28th. It’s planned to buy back 40 million shares, or about 1.8% of shares outstanding within the price range from NT$ 13.0 to NT$37.1 per share, totaled up to NT$ 1.48 billion, starting from Oct. 29th to Dec. 28th. For the previous stock buyback, the company has bought back 18.57 million shares or about 0.83% of shares outstanding at average price of NT$ 26.15 by Oct. 27th.

Press Contact:
Julia Wang, Director of IR/PR +886-2-8798-2888 ext.6536
julia.wang@liteon.com