LITE-ON Technology Reports Third Quarter Net Profits of NT$2.64 Billion, with EPS of NT$ 1.14, a Record High for 2 Years
LITE-ON Technology (2301-tw) today reported third quarter consolidated sales of NT$53.4 billion, up 17% Q-o-Q and 5% Y-o-Y excluding transferred mobile phone camera module business, supported by growing demand from Cloud Computing, LED/ Outdoor Lighting, Storage and AI Smart Home devices. Thanks to the better product-mix, supply chain management, coupled with operational efficiency, the third quarter gross margin and operating margin were 15.8% and 6.2%, up 3.5% and 3% Y-o-Y respectively. Net profit reached NT$2.64 billion with EPS of NT$1.14, up 50% Q-o-Q, hitting a record high for 2 years.
The Opto-electronics contributed a 15% share of total sales. Thanks to the growing demand from invisible LED, ongoing market share gains in LED components, coupled with smooth delivery of LED vehicle lighting, Opto-electronics posted a growth of near 10% Q-o-Q.
The Information Technologies business accounted for 62% of total sales. Delivery growth of high-end server and networking power management systems, power supplies for AI smart home devices, coupled with ongoing market share gains in HIS (Human Input Solutions - PC keyboards and peripherals) supported Information Technologies to achieve a revenue growth of 16% Q-o-Q.
The Storage business accounted for 18% of total revenue, up 28% Q-o-Q, thanks to the growth from cloud computing and gaming applications.
Cumulated sales from January through September 2018 reached NT$156.6 billion and the gross profit margin and operating profit margin were 13% and 3.6% respectively; net profits totaled NT$5.4 billion with EPS of NT$2.34. Meanwhile, net cash reached NT$28 billion through aggressive working capital management, after the distribution of cash dividend and employee bonus of NT$8 billion in the third quarter.
Stable business development is expected into the fourth quarter, supported by Cloud Computing, LED/Outdoor Lighting and AI Smart Home devices.
Julia Wang, Sr. Director of IR/PR +886-2-8798-2888 LITEONTech.IR@liteon.com