LITE-ON Technology Reports First Quarter Net Profits of NT$1.57 Billion, with EPS of NT$0.68, a Record First Quarter Net Profit in Two Years

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Press Releases

2020/04/29

LITE-ON Technology (2301-tw) today reported first quarter consolidated sales of NT$32.58 billion, in spite of the impact from COVID-19 outbreak. Thanks to the optimized global manufacturing capacities, efficient resumption of production in mainland China and the yearly growth from LED/Outdoor Lighting and IoT applications, gross margin was 14.5%, up 1.4ppt Y-o-Y, hitting a first quarter record high for seven years, and operating margin was 2.3%, consolidated the negative impact of 0.2ppt and 0.4ppt to gross margin and operating margin respectively, resulting from Silitech’s re-organization losses. Net profits were NT$1.57 bn with EPS of NT$0.68, up 7% Y-o-Y, also hitting a record first quarter net profit in two years. Net cash reached NT$40.5 billion, attributable to the aggressive working capital management and strong positive free cash flow generated from operation.

Opto-electronics accounted a 19% share of total sales in the first quarter, of which, strong demand from UV LED applied for medical, disinfection, water and air purification as well as IoT related products supported Opto-electronics’ operating profit hitting a record high for six quarters.

Information Technologies business accounted for 65% of total sales, thanks to stable demand in high-end server and networking power management systems and server enclosure for cloud computing, Notebook PC power adapters, coupled with PC peripherals such as keyboard and mouse products. Meanwhile, Storage business accounted for 11% of total revenue.

Looking forward, the sequential growth in both sales and margins are expected in the second quarter, mainly driven by stable demand from Cloud Computing, Opto-electronics in 5G+AIoT, coupled with Notebook PC and Gaming applications.

Press Contact:

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

LITEONtech.IR@liteon.com