Lite-On Technology (2301-tw) today reported second-quarter worldwide consolidated sales of NT$32.35 billion, up 13% Q-o-Q and 43% Y-o-Y, hitting a record high and capping six consecutive quarters of growth. Net profits hit NT$2.46 billion, with EPS of NT$1.12, up 36% Q-o-Q and 52% Y-o-Y.
Cumulative sales in the first-half of 2010 reached NT$61 billion, up 45% Y-o-Y, while posting operating profit of NT$3.54 billion, up 56% Y-o-Y, and net profits were NT$4.27 billion, increasing 114% Y-o-Y, with EPS of NT$1.94.
Thanks to ongoing expansion in market share, coupled with stable demand, in the second-quarter all of Lite-On’s major component business units showed steady growth sequentially, with the Camera Module, Power Supply and Optoelectronics (LED) business units posting growth of 25%, 24% and 22% Q-o-Q respectively, while HIS (Human Input Solutions–PC keyboards and peripherals) business unit also posted growth of 10% Q-o-Q. Meanwhile, the Camera Module, Optoelectronics, HIS, and Power Supply business units also posted remarkable annual growth of 58%, 46%, 40% and 30% Y-o-Y respectively.
In the second-quarter, Lite-On’s overall profit margins continued to grow sequentially despite higher material and labor cost pressures. Gross Margin and Operating Margin reached 13% and 6.3%, up 0.6% and 1.1% Q-o-Q, respectively, in line with guidance, mainly thanks to the operating concentration in China, higher business scale, productivity and effective supply chain management. Sequential sales growth and margin expansion is expected in the third-quarter, resulting from ongoing cost efficiencies.
Non-operating items posted a net income of NT$915 million in the second-quarter, with Perlos’ Q2 sales reaching €139 million, up 4% Q-o-Q and 33% Y-o-Y, hitting a record quarterly high, despite COGS increasing 1.3% Q-o-Q, primarily due to a labor cost increase. Perlos' Gross Margin and Operating Margin in the second-quarter hit 13.9% and 5.2% with remarkable annual growth, compared to the same period last year, and net profits reached €3.4million. Perlos’ overall performance in the third-quarter is expected to continue at the same level as the second-quarter, profiting from actions taken to further increase customer share as well as reducing manufacturing costs while implementing model transitions in major customers.
Press Contact:
Julia Wang, Director of IR/PR
+886-2-8798-2888
Liteontech.IR@liteon.com