Lite-On's Net Profits in the Second Quarter Soars by 42% Q-o-Q

Lite-On Technology reported second quarter 2013 consolidated revenue of NT$50.01 billion, up 7% Q-o-Q. Thanks to a better product mix, operating efficiency and higher scale of profitable products, the gross margin and operating margin in the second quarter were 14.8% and 4.8%, with sequential growths of 0.1% Q-o-Q and 0.6% Q-o-Q respectively. Net profits in the second quarter reached NT$2.24 billion with a growth of 42% Q-o-Q, and an EPS of NT$ 0.98.

Despite ICT market declines, Lite-On's core business units’ Q2 sales continued to gain momentum, with high-end Networking Devices and Sever Power Management Systems posting a revenue growth of 20% Y-o-Y, LED Components and General Lighting products over 20% Y-o-Y, HIS (Human Input Solutions-PC Keyboards and Peripherals) over 10% Y-o-Y, Automotive Electronics over 30% Y-o-Y, and Solid State Disk (SSD) over 120%. The revenue shares of major business segments, Optoelectronics & Communications, Information Technology, Storage and others were 30%, 42%, 22% and 6% respectively.

In the first half of 2013, Lite-On reported cumulative sales of NT$96.78 billion, with a gross margin of 14.8%, up 1% Y-o-Y, and an operating margin of 4.5%, maintaining the same level as the same period last year. To further strengthen its core technologies and leading position, R&D expenses were increased to 3% of sales, up 10% Y-o-Y. Net profits were NT$3.82 billion, and EPS in the first half reached NT$1.67, with growth of over 20% Y-o-Y. Meanwhile, Lite-On Tech’s net cash position reached NT$11.2 billion after the cash acquisition of Lite-On IT.

In Q313, sequential growth is expected, thanks to new product launches and market share gains in major applications, coupled with margin expansion supported by the end-demand growth of Cloud Computing, Mobile Devices, LED/Lighting, Automotive Electronics and Consumer Electronics.

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