Lite-On Technology Corporation (2301.TW) today held 2009 shareholders meeting, in which shareholders approved the fiscal year 2008 results and the distribution of a NT$1.45 dividend per common share. Of that, the cash and stock dividend were NT$1.4 and NT$0.05 per share respectively. The payout ratio and cash dividend yield came to 72% and 5%, in line with the historic high payout ratio for years. Looking forward, Lite-On Tech continues to focus on its core component businesses and build up complete “Green Technology” supply chain for further development.
Despite the weakened global economy since the second half of 2008, Lite-On Tech reported sound revenue and profit by successfully implementing the strategy of core business focus. The parent company posted its revenue of NT$124.46 billion in the fiscal year of 2008, and the sales of Lite-On Group were NT$ 230.66 billion with net income of NT$4.4 billion, or EPS of NT 2.01.
To achieve the goal, Lite-On Tech transferred Digital Display Business Unit to Wistron in last August for the win-win solution. Excluding DDBU (Digital Display Business Unit) sales, Lite-On Tech’s 2008 world-wide consolidated revenue reported NT$105.4 billion, up 4% year-on-year with steady growth in core business units, hitting a record high in 7 years. On top of that, the revenue contribution from Green Technology business, including Power Supply and Optoelectronics sales, climbed to 47% of 2008 revenue, up from 39% in 2006.
Looking ahead, Lite-On Tech will stay focused on its core opto-electronics component businesses to maximize the market share in the 4’C applications and further strengthen its cost structure and operating efficiency to improve profitability. In the power supply business, the company will continue penetrating into the server and consumer electronics segments by leveraging its dominant presence in PC market. In LED, it is expected to benefit from the strong adoption of LED backlight in panels. As a result, Lite-On Tech has a full range of LED products to offer, including LED keyboard, indoor/ outdoor lighting, signage, display as well as Ultra Low Temperature lighting.
Additionally, in the invisible LED, the company just revealed the ALPS (Ambient Light Portable Sensor) module at Photonics Festival in Taipei, a newly launched module that can be built into hand-held devices, such as cellular phones, laptop and PDA…etc. The ALPS module, through the sensor, is able to automatically adjust the LED backlight brightness to achieve energy-saving goal in detecting the brightness of light source, as well as the distance of surrounding objects.
Lite-On Group has set its forces in building “Green Technology” supply chain from four major areas: energy creation, conversion, storage and saving. The Group has developed full-line Green Tech products including high-performance power supply, inverter, LED general lighting and thin-film solar cell to fulfill the high demand in Europe, America and Asia to further expend its leading position in global optoelectronics industry.
To further strengthen the corporate governance and meet the global standard, Lite-On Tech’s Board has approved the establishment of compensation committee. The committee acts on behalf of the Board to oversee, review and approve the compensation policies, plans and programs. Lite-On Tech is the first listed company in Taiwan to fully authorize the compensation committee to decide on and to oversee the company’s (1) compensation plan and practice of its Chairman, executive officers and the managers; and (2) long-term incentive program and profit sharing plan, which makes Lite-On Tech a benchmark in Taiwan’s corporate governance.
Press Contact:
Julia Wang,
Director of IR/PR
+886-2-8798-2888
julia.wang@liteon.com