Lite-On Tech reports second-quarter net profits of NT$1.35 billion, up 112% quarter-on-quarter

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Press Releases

2008/08/27

Lite-On Technology Corporation (TAIEX:2301 TW) today announced the second-quarter net earnings of NT$1.35 billion, or EPS of NT$0.63, increasing 112% compared to previous quarter, thanks to the strong growth from high-end products, including power supply, imaging products and optoelectronic components. Gross margin and operation margin reached 10% and 2.7% respectively in the second quarter, both presenting steady improvements sequentially. Revenue for the first half of the year reached NT$ 78.5 billion, while net profit reported NT$1.99 billion, or EPS of NT$0.93.

Meanwhile, the board of directors today approved the treasury stock plan for employee stock option. It’s planned to buy back 30 million shares, or about 1.4% of shares outstanding within the price range from NT$ 20.7 to NT$41.1 per share, totaled up to NT$ 1.23 billion between Aug 28th to Oct 27th.

In the second quarter, Lite-On Tech posted worldwide consolidated sales of NT$ 37.6 billion with gross profit and operating income of NT$3.75 billion (10%) and NT$ 998 million (2.7%) respectively. Gross profit showed a 6% growth while operating income presented a 16% increase compared to prior quarter. In the third quarter, power supply, optoelectronic and imaging units sales are expected to grow up to 10%~15% respectively, as new product launches, seasonal market demand pick-ups and new applications in PC, communication and consumer electronics segments.

In the third quarter, the operating margin will improve to 3.5%~4.1%, as a result of better product-mix, ongoing cost and operating efficiency improvement. Looking forward, the margin improvement will be more substantial in the second half of this year. Lite-On will concentrate on simplifying its product portfolio and focusing on the growth of core businesses to further strengthen its global leading position as an optoelectronic components supplier. Meanwhile, Perlos has reached operating turnaround in the second quarter, thanks to the synergies of integration and new product launches. Therefore, Perlos’ third-quarter sales are expected to grow 10%-15% sequentially and operating margin will expand to 3%-4%, driven by synergies of integration, new project ramp-ups and operating efficiency.

Press Contact:
Julia Wang Director, Investor and Public Relations +886-2-87982888 ext 6536
julia.wang@liteon.com

Sherry Huang Associate Manager, Investor and Public Relations +886-2-87982888 ext 6501
sherry.huang@liteon.com