LITE-ON Technology Reports 2Q Net Profits of NT$3.45 Billion with EPS of NT$1.48, First Half Net Profits of NT$5.02 Billion with EPS of NT$2.16, up 30% Y-o-Y, Record Profit Margins and EPS

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Press Releases

2020/07/30

LITE-ON Technology Reports 2Q Net Profits of NT$3.45 Billion with EPS of NT$1.48, First Half Net Profits of NT$5.02 Billion with EPS of NT$2.16, up 30% Y-o-Y, Record Profit Margins and EPS

LITE-ON Technology (2301-tw) today reported second quarter consolidated sales of NT$41.8 billion, up 28% Q-o-Q, driven by strong growth from Power Management and Opto-electronics in Cloud Computing, 5G, AIoT, as well as notebook PCs and Gaming Applications. Thanks to the optimized global manufacturing capacities, enhanced product-mix and operational efficiency, the net profits reached NT$3.45 billion with an EPS of NT$1.48, up 119% Q-o-Q. The second quarter gross margin and operating margin were 19.4% and 8.7%, up 4.9ppt and 6.4ppt Q-o-Q respectively, while the profit margins and EPS, hitting quarterly record highs. Additionally, net cash reached NT$36.1 billion, attributable to the positive free cash flow generated from operation.

Resulting from the solid order intake and operation in the first half of 2020, the accumulative sales reached NT$74.37 billion, while gross margin and operating margin were 17.3% and 5.9%, up 2.8ppt and 1.8ppt YoY respectively. In the first half, the operating profit reached NT$ 4.4 billion, up 25% YoY, and net profits were NT$5.02 billion with an EPS of NT$2.16, up 30% YoY, another record first-half profit margins and EPS.

In the second quarter, Opto-electronics accounted for 17% share of total sales. Thanks to the growing demand from UV LED applied to medical, disinfection, water and air purification, invisible LED as well as 5G and AIoT applications, coupled with delivery growth of LED outdoor lighting, Opto-electronics posted a revenue growth of over 10% Q-o-Q.

The Information Technologies business contributed 68% of total sales, of which, delivery growth from high-end server and networking power management systems as well as power adapters, keyboards and peripherals for notebook PCs supported Information Technologies to achieve a revenue growth of over 30% Q-o-Q. Meanwhile, the Storage segment accounted for 11% of total revenue, in which, Solid State Drives (SSD) business has been transferred to Kioxia Holdings Corporation since July 1st, 2020.

Looking forward, thanks to the sequential growth and better margins from Power Management and Opto-electronics in Cloud Computing, 5G, AIOT and Gaming applications, stable core business development is expected in the third quarter.

Press Contact:

Julia Wang, Sr. Director of IR/PR +886-2-8798-2888 LITEONTech.IR@liteon.com