Lite-On Technology (2301-tw) today reported the third quarter 2016 consolidated revenue of NT$62.68 billion, up 17% Q-o-Q and 12% Y-o-Y, hitting a quarterly record high*. Thanks to the yearly growth of Cloud Computing, LED/ Outdoor Lighting, Storage, Automotive Electronics and Gaming applications, the gross margin and operating margin improved to 14.6% and 6.3%, up 1.7% & 2.0% Y-o-Y respectively, mainly driven by better product mix, higher scale, coupled with operational efficiency, resulting in Net Profits of NT$ 3.18 billion with EPS of NT$ 1.37, hitting a quarterly record high in 11 years.
The Optoelectronics business segment contributed a 23% share of Lite-On’s sales in the third quarter. Thanks to the growing demand from invisible LED, ongoing market share gains in LED components, the smooth delivery of LED street lights and vehicle lighting, coupled with increasing shipment of high-end camera modules, the Optoelectronics posted a revenue growth of 13% Q-o-Q.
The Information Technologies business accounted for 49% of total sale with a revenue growth of 16% Q-o-Q, of which, cloud computing products posted continuously yearly revenue growth, supported by increased shipment of high-end server and networking power management systems, as well as high-end server enclosures. Meanwhile, the revenue expansion is also attributable to ongoing growth of Power System with increases of mobile devices and game consoles, ongoing market share gains in HIS (Human Input Solutions - PC Keyboards and Peripherals) as well as delivery growth in laser models of Multi-Function Peripherals.
The Storage business accounted for 20% of total revenue, up 21% Q-o-Q, thanks to the increasing demand from Cloud Computing and Gaming applications.
Cumulated sales from January through September 2016 reached NT$166.3 billion, up 4% Y-o-Y, with gross margin and operating margin of 13.6% and 5.0%, up 0.9% and 1.4% Y-o-Y respectively, and cumulative net profits totaled NT$ 6.83 billion with EPS of NT$2.94, up 46% Y-o-Y. Meanwhile, net cash reached NT$25.8 billion through aggressive working capital management after the distribution of cash dividend and employee bonus in the third quarter.
Stable business development is expected in 4Q, supported by Cloud Computing, Optoelectronics, Storage and Auto Electronics.
Note *: The divested Digital Display Business Unit was excluded from the historical sales.
Press Contact:
Julia Wang,
Senior Director of IR/PR
+886-2-8798-2888
Liteontech.IR@liteon.com