Lighting and Backlight Demands Pushes Everlight Aug. Revenue Up To NT$ 2.41 B

Strong LED backlight and lighting product performances pushed Taiwan LED package manufacturer revenue for Aug. 2013 up 10.13% to NT$ 2.41 billion (US$ 8 million) compared to NT$ 2.19 billion in July. The company announced Monday its financial results for Aug. 2013, which showed record high growths, as revenues grew at an Year-on-Year (YOY) rate of 33.96% compared to the same period last year. Everlight’s order visibility is 1.5 months, and its utilization rate was 80-90%. Operations in 2H13 showed minor differences in 3Q and 4Q estimations.

Everlight’s accumulated revenue from Jan. to Aug. 2013 reached NT$ 15.52 billion, a 25.55% increase compared to NT$ 12.36 billion in Aug. 2012. The company noted its Aug. revenue was affected by 2Q13 street light bidding shipments that drove amounts recognized for 3Q13. In addition, acquisition of German luminaire manufacturer WOFI’s amounts recognized reached NT$ 100 million, and as small/mid-sized backlight shipment demands remained strong, Everlight’s Aug. revenue reached a record high.

The end of China’s Home Appliance Subsidies caused LED manufacturers TV shipments to ease in 3Q13, but according to Everlight the affects from large-size backlight shipments remains limited. Everlight’s overall utilization rate reached 80-90%, and its order visibility was kept at a level of 1.5 months, since small/mid-sized backlight performance remained good. Citibank estimated in 4Q, Everlight’s 3Q13 street light bidding and subsidiary recognition will help the company achieve a Quarter on Quarter increase of 10%.

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