Lite-On Technology (2301-tw) today reported fourth quarter 2011 consolidated sales of NT$29.07 billion, and a net profit of NT$1.5 billion with EPS of NT$0.67. The gross margin and operating margin in Q4 2011 were 12.7% and 5.5%, both up 0.3% Y-o-Y. The growth margin was mainly attributable to solid growth in Camera Module, Power Supply and HIS (Human Input Solutions - PC keyboards and peripherals), coupled with improved productivity and cost efficiency.
Lite-On's 2011 annual consolidated sales reached NT$118.9 billion, while posting a net profit of NT$7.23 billion with EPS of NT$3.22. Core business groups including Power SBG and Opto-Electronics SBG showed steady growth, and thanks to Camera Module business unit's ongoing gains in the global market share of smart-phones and Notebook PCs, Opto-Electronics SBG achieved a remarkable annual revenue growth of 15% Y-o-Y.
Despite a slowing down of the global economy in 2011, Lite-on still maintained an annual gross margin and operating margin at a level of 12.3% and 5.5% respectively. OPEX was improved to 6.8%, down 0.3% from 2010, a result of better operating efficiency in spite of higher commodity prices and manufacturing cost pressures, whereas R&D expenses were up 15% Y-o-Y, further strengthening its leading position in the areas of advanced power solutions, optoelectronics and mechanical competence. The CCC (Cash Conversion Cycle) was reduced to 9 days through aggressive working capital management. Coupled with a positive free cash flow generated from operations, Lite-On Tech's net cash reached NT$11 billion in Q4.
Non-operating items posted a net income of NT$1.89 billion in 2011 and Lite-On Mobile reported Q4 revenue of €299 million, up 72% Q-o-Q and hitting a quarterly record high since its acquisition in 2007. This remarkable growth is mainly attributable to the smooth delivery of Lite-On Mobile’s integrated mechanics, and the new program ramp-ups in key customers. Lite-On Mobile posted 2011 annual sales of €728 million, up 28% Y-o-Y, and a gross margin and operating margin of 10.7% and 4.3% respectively, while net profit was €13.4 million, contributing approximately 10% to Lite-On Tech's total net profit. Looking ahead, Lite-On Mobile will continue to improve its overall operating and profitability based on Lite-On Mobile's mechanical integration competence, improved customer portfolio, shipment expansion, and concentration of manufacturing in Asia.
In 2012, substantial growth in the Non-PC sector is expected via Lite-On's ICT strengths, particularly in communication and cloud computing applications, while effective supply chain management is in place for further expansion.
Press Contact:
Julia Wang, Director of IR/PR
+886-2-8798-2888
Liteontech.IR@liteon.com