LITE-ON Technology Reports Second Quarter Net Profit of NT$2.39 Billion, a Record High over the Same Periods in Nine Years with EPS of NT$ 1.03, up 36% Y-o-Y

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Press Releases

2019/07/31

LITE-ON Technology (2301-tw) today reported second quarter consolidated sales of NT$44.47 billion, up 8% Q-o-Q, driven by sequential growth from Power Supply and Opto-electronics in Cloud computing, AI smart home devices and Gaming applications. Thanks to operational efficiency, supply chain management and better product-mix, the second quarter gross margin and operating margin were 15.7% and 5.3%, up 3.8% and 2.5% YoY respectively, while the profit margins and net profits hitting the record highs over the same periods in nine years. Additionally, net cash reached NT$36.8 billion, attributable to the positive free cash flow generated from operation.

Enhanced operational efficiency and profitability were realized in the first half of 2019, and the accumulative sales reached NT$85.6 billion, while gross margin and operating margin were 14.5% and 4.1%, up 3.0% and 1.9% YoY respectively. The profit before tax and net profit were NT$5.07 billion and NT$3.86 billion respectively, with the EPS of NT$1.66, up 38% Y-o-Y.

In the second quarter, Opto-electronics accounted for 16% share of total sales. Thanks to the growing demand from invisible LED, coupled with the yearly growth of LED vehicle lighting, Opto-electronics posted a growth of approximately 10% Q-o-Q.

The Information Technologies business contributed 66% of total sales, of which, delivery growth of high-end server and networking application as well as server enclosures for cloud computing and 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 over 10% Q-o-Q. Meanwhile, the Storage segment accounted for 13% of total revenue.

Looking ahead, stable business development is expected in the third quarter, thanks to sequential growth from Cloud Computing, AI Smart home, Gaming applications, as well as Opto-electronics.

Press Contact:

Julia Wang, Sr. Director of IR/PR +886-2-8798-2888 LITEONTech.IR@liteon.com