[25 Oct 2007, Taipei] Lite-On Technology Corporation (2301.TW) today announces the financial results for the third quarter of 2007. On the back of seasonal strength and ramp-up of new products, revenue and net profit both reached record high.
In the third quarter of 2007, Lite-On’s sales jumped 20.7% QoQ to $51.1B, net profit also grew 20% sequentially to NT$2.6B. Operating profit increased 47% QoQ and operating margin improved 0.8% to 4.2%, due to increased revenue scale. Non-op income sustained at nearly NT$1B without significant disposal gain. Earning per share of 3Q reached NT$1.2.
Growth of 3Q was driven by ramp up of new product in Power Supply and LED. Power Supply continued to grow at record pace in 3Q, driven by new products, including LCD TV and game console, seasonal strength in PC applications, and market share gains in existing product lines. LED solidified No. 1 position in Taiwan. In September, Lite-On was the first to break NT$1B in monthly LED packaging revenue.
To expand full-scale in green technology industry, Lite-On announces to acquire Avago Technologies’ IrDA business with US$20M in cash, to boost Lite-On’s market position in LED. Lite-On also plans to invest in Auria Corporation with NT$498M, a Si (thin-film) solar modules company, to start its first step in solar industry.