Lite-On announces results of 2008 annual shareholders meeting

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Press Releases

2008/06/25

Lite-On Technology Corporation (2301.TW) today held its 2008 shareholders meeting, in which shareholders approved the fiscal year 2007 results and the distribution of a NT$3.0 dividend per common share. Of that, the cash and stock dividend will be NT$2.95 and NT$0.05 per share respectively. The payout ratio and dividend yield rate came to 87% and 9.7%, both reaching record highs. In addition, shareholders approved the transfer of the Digital Display Business Unit (DDBU) to Wistron Corporation for around NT$9.2 billion and the transaction is expected to be completed by July 2008. Looking forward, Lite-On will concentrate on a simplified product portfolio, focus on its core businesses and build up a comprehensive “green energy technology” supply chain for further development.

Lite-on performed well in fiscal year 2007. Its worldwide consolidated revenue totaled NT$261.9 billion with net income of NT$8.5 billion, or an EPS of NT 3.45. On top of that, Power Supply and Opto have posted a 44% and 13% revenue growth on a yearly basis. From January to May this year, Power Supply and LED revenue have increased by 40% and 15% y-o-y, showing continuous and stable growth compared to the prior year.

Despite the DDBU fire incident in China and DDBU’s transfer to Wistron Corporation, Lite-On continues to reposition its business strategy, focusing on high-end products, strengthening its cost structure and making efficiency improvements. To fulfill future demand and growth in environmental protection, Lite-On is concentrating its resources on establishing a “green energy technology” supply chain, including applications such as the generation of solar energy, the conversion of power supplies and the energy efficiency of LEDs.

Lite-on has completed its acquisitions of LSE (Li Shin), Perlos and the IrDA Division of Avago as well as its investment in Leotek Electronics and Auria Solar in 2007. In addition, Lite-On successfully placed Logah on the emerging stock market. Going forward, Lite-On will set its focus on developing and expanding green energy technology related products and businesses to further strengthen its leading position in the global optoelectronic industry.

Contact: Investor Relations and Public Relations
+886 2 87982888 ext. 6536
julia.wang@liteon.com