Lite-On Technology (2301.tw) reported the first-quarter of 2012 worldwide consolidated sales of NT$27.41 billion, and net profits of NT$1.35 billion, with EPS of NT$0.60. Thanks to favorable product-mix and effective supply chain management in place, Lite-On Tech's gross margin and operating margin reached 12.7% and 5.5%, both up 1.6% and 0.4% Y-o-Y respectively despite pressure from higher labor costs.
Looking ahead, sequential growth and operational efficiencies is expected in Q2, given better IT and consumer electronics demand, and ongoing market share gains in global major customers coupled with a ramp-up in the smart-phone market.
Meanwhile, Lite-On's Board has proposed a 2011 dividend plan offering NT$2.32 per share. Of that sum, the cash and stock dividend portions will be NT$2.27 and NT$0.05 per share respectively, based on NT$3.22 EPS in 2011. The dividend payout ratio and cash yield reached 72% and 6.5% respectively, maintaining a stable and generous dividend policy.
In the first quarter, Lite-On's revenue of all major business units showed steady development. The Opto-Electronics business group posted a revenue growth of 5% Q-o-Q, and the sequential growth was attributable to solid recovery from the LED plant impacted by Thai-floods in Q4 2011. Thanks to ongoing market share gains in PCs and smart-phones globally, the Camera Module business unit reported a remarkable revenue growth of over 30% Y-o-Y. Meanwhile, the HIS (Human Input Solutions) business unit also posted a growth of over 30% Y-o-Y, mainly driven by ongoing PC keyboard and mouse market share gains.
Lite-On's cash conversion cycle (CCC) was held within 13 days through aggressive working capital management, coupled with positive free cash flow, and net cash position maintained a high level of NT$12.1 billion in the first quarter. The Non-operating items posted a net income of NT$103 million, and Lite-On Mobile's Q1 revenue was €229 million, up 68% Y-o-Y despite impact from the seasonality and the major customer's new product model transition. In 2012, Lite-On Mobile is making good progress in the diversification of its client base and will continue to expand the number of Windows smart-phone programs, as well as achieving a competitive cost structure by improving material cost efficiency and productivity improvement through automation.
Press Contact:
Julia Wang, Director of IR/PR
+886-2-8798-2888
Liteontech.IR@liteon.com