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LITEON
LITEON
According to Lite-On, the merger of four companies-- Lite-On Technology Corp., Lite-On Electronics, Inc., Silitek Corp. and GVC Corp. was approved by the SFC (Securities and Futures Commission) on October 7th and became effective, today the company announced the financial forecast, which, based on the principles of financial organization, consolidated the operating revenues and profits of three companies (Lite-On Electronics, Inc., Silitek Corp. and GVC Corp.) for November and December. The operating revenues of 2002 would total NT$ 47.82 billion; the profit after tax would reach NT$ 5.49 billion.

Based on the current 1,047,000 thousand weighted average outstanding shares, Earnings Per Share after tax would be NT$ 5.24, which represented a sizable 86% increase over the corresponding period last year. Under the impact of global recession, Lite-On has become one of a small minority in the electronics information industry who can still maintain a high growth of business achievement in itself.

Lite-On indicated that issuing the GDR of Lite-On IT Corp. was an established policy, however, owing to a global slump in the stock market at the moment and the deficient energy of capital in the market, the board of directors, as the result of prudent assessment, accordingly resolved to defer issuing the GDR to avoid selling blue-chip stocks at low price and to maintain the maximal rights and interests for shareholders, although in the future the company will still have to pick the moment before issuing the GDR.