Lite-On Technology (2301.TW) today held its 2011 annual general meeting, during which the shareholders approved Lite-On’s fiscal year 2010 results and distribution of a NT$2.92 dividend per common share. Of that sum, the cash and stock dividend portions will be NT$2.87 and NT$0.05 per share respectively. The payout ratio and cash dividend yield are 72% and 7.8%, in line with the company’s historic high payout policy.
Despite the rise of material and labor costs, coupled with NT appreciation in 2010, Lite-On continued its remarkable growth in both sales and profits. The company reported consolidated sales of NT$230.05 billion, up 24% Y-o-Y, and operating profits of NT$13.97 billion, up 39% Y-o-Y, resulting in EPS of NT$4.05, increasing about 30% Y-o-Y and hitting a record high for earnings per share, demonstrating Lite-On’s strong profitability.
By focusing on core business, the revenue of Lite-On’s Power Supply, LED, Camera Module and HIS (PC keyboards and peripherals) business units (BUs) contributed over 60% of Lite-On’s 2010 total revenue. The respective share percentages for each of those BUs hit a new record-high, attributable to market share expansion strategy and strong sales for smart-phones, LED TV panel backlighting, network devices and servers, as well as higher penetration in global IT brand names in 2010. All of the major BUs showed steady growth, while the Camera Module and LED BUs, in particular, posted remarkable gains of 70% and 40% Y-o-Y respectively. Meanwhile, both the HIS and Power Supply BUs posted growth of 20% Y-o-Y, while all four of those major BUs hit record yearly highs. In 2010, Lite-On inaugurated new factories for its Optoelectronics (LED) and HIS BUs at Lite-On’s East China Regional Headquarters in Wujin, Changzhou, China, following the opening of the Power Supply BU’s factory in 2009. Lite-On expects to improve cost efficiencies and services by offering closer proximity to Lite-On’s global customers through the concentration of operations in the China facilities as well as the effective global supply chain management.
Looking ahead, with steady growth from the worldwide server, tablet PC, smartphone, consumer electronics and LED lighting markets, Lite-On not only has firm control of relevant component and peripheral supplies, but also possesses strong supply-management competence and a solid concentrated-production base. Lite-On stays focusing on market share gains in high-end switching power supplies for server and networking systems, LED lighting and backlight for TV panels, as well as high-end camera modules for tablet PCs and smartphones, while integrating the Connective Devices & System Solutions and Mechanical Competence Center strategic business groups to further strengthen its leading position and fulfill advanced applications globally.
As a result of Lite-On’s continuous efforts to implement Corporate Social Environmental Responsibility policies, and its outstanding performance in that respect, Lite-On was awarded the 1st place of “Corporate Social Responsibility Award” in the Large Technology Companies category from Global Views Magazine and the “Corporate Citizenship” award from Common Wealth Magazine for 4 consecutive years. Meanwhile Lite-On has built up its EICC (Electronic Industry Citizenship Coalition) management system, in strict compliance with the rules and regulations and with strong business execution. In 2010, Lite-On also led the Industry in completing the first global Optoelectronic Semiconductor Product Category Rule and announced the first global Optoelectronic Semiconductor Product Carbon Footprint Declaration and Environmental Product Declaration, Type III.
Press Contact:
Julia Wang, Director of IR/PR
+886-2-8798-2888
Liteontech.IR@liteon.com