Lite-On Technology (TW 2301) reported third-quarter worldwide consolidated sales of NT$31.86 billion today, up 20% Y-o-Y, while posting a net profit of NT$2.53 billion with EPS of NT$1.14, attributable to market expansion coupled with steady end demand.
Total sales from January through September of 2010 hit NT$92.88 billion, up 35% Y-o-Y. Meanwhile, operating profit and net profit reached NT$5.67 billion and NT$6.8 billion respectively, with accumulated EPS of NT$3.05 increasing a remarkable 50% Y-o-Y.
All of Lite-On’s core business units showed steady growth sequentially, with the Camera Module, Optoelectronics (LED), HIS (Human Input Solutions–PC keyboards and peripherals) and Power Supply business units posting growth of 86%, 34%, 28% and 12% Y-oY respectively, while all of them hit new record quarterly highs.
In the third-quarter, Lite-On’s overall profit margins continued to grow sequentially despite material and labor cost pressures. The company’s gross margin and operating margin reached 13.9% and 6.7%, up 0.9% and 0.4% Q-o-Q, respectively, mainly thanks to increased productivity and more effective supply chain management. Lite-On’s net cash position held steady at NT$11.9 billion, after its recent cash dividend distribution of NT$5 billion. Stable business and margins are expected in Q4, resulting from the company’s strong market position, cost efficiency and strict working capital management.
Non-operating items posted a net income of NT$508 million in the third-quarter, with Perlos’ Q3 sales reaching €138 million, up 12% Y-o-Y. Perlos' gross margin and operating margin in the third-quarter posted 12.8% and 4.7% respectively and net profit was €2.2million. Looking forward, sequential sales growth is expected from Perlos in Q4, thanks to new program ramp-ups in key client and margins will be impacted by 1-2% due to touch joint venture start-up and lower utilization in Mexico. Meanwhile, the JV will start mass production towards year end.
Press Contact:
Julia Wang, Director of IR/PR
+886-2-8798-2888 Liteontech.IR@liteon.com