LITE-ON Technology Reports First Quarter Net Profits of NT$1.47 Billion With EPS of NT$0.63, up 40% Y/Y
LITE-ON Technology (2301-tw) today reported first quarter consolidated sales of NT$41.17 billion, supported by yearly growth of Power Supply for server and networking in Cloud computing, AI Smart home devices, Gaming as well as LED Vehicle Lighting. Thanks to operational efficiency, supply chain management and better product-mix, gross margin and operating margin were 13.1% and 2.8% , up 2% and 1.2% YoY respectively while net profits were NT$1.47 billion with EPS of NT$0.63, up 40% YoY. Net cash reached NT$37.7 billion, attributable to the aggressive working capital management.
Opto-electronics accounted a 16% share of total sales in the first quarter, of which, sales of LED vehicle lighting posted a yearly growth of over 30% YoY driven by its smooth delivery.
Information Technologies business accounted for 65% of total sales. Thanks to ongoing delivery growth of high-end server and networking power management systems for cloud computing, power supplies for AI Smart Home devices and sever enclosures, coupled with ongoing market share gains in HIS (Human Input Solutions - PC Keyboards and Peripherals), Information Technologies posted a growth of 5% YoY in the first quarter. Meanwhile, Storage business accounted for 14% of total revenue.
Looking forward, sequential growth in sales and margins are expected in the second quarter, supported by stable demand from Cloud Computing, AI Smart home devices and LED/Outdoor Lighting.
Julia Wang, Sr. Director of IR/PR +886-2-8798-2888