[Financial Updates] Innolux Announces January 2018 Consolidated Revenues and Unaudited Net Income for 2017

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Innolux Corporation announced its January 2018 consolidated revenues, with unaudited consolidated revenues of NT$26.1 billion in January 2018, a decrease 3.5 % M-o-M and a decrease of 4.2 % Y-o-Y. During January 2018, it shipped 10.1 million units of large-sized products, a decrease of 4.6 % M-o-M. Shipments for small-and-medium-sized products were 24.24 million units, a decrease of 6.4 % MoM.

It also reported its 4Q 2017 consolidated revenues. Combined net sales for 4Q 2017 amounted to NT$ 79.1 billion, gross profit was NT$ 11.2 billion, for a gross margin of 14.1%. Operating profit totaled NT$ 5.7 billion with an operating profit of 7.2%. Net profit amounted to NT$ 4.3 billion, for a net profit margin of 5.4%. EBITDA margin of 18%, with a basic EPS of NT$ 0.43.

For the full year of 2017, Innolux reported consolidated revenues of NT$ 329.2 billion. Gross profit was NT$ 68.7 billion, for a gross margin of 20.9%. Operating profit totaled NT$ 47 billion with an operating margin of 14.3%. Net profit amounted to NT$ 37 billion. EPS equaled NT$ 3.72.

In finance, the company’s total debt came down to NT$ 28.2 billion, equal to the previous quarter. Net debt to equity ratio of -14%.

The Company shipped 28.47 million square meters of panel in 2017, an increase of 5.4% over 27.01 million square meters in 2016. For the full year 2017, the company shipped 271 million for small-and-medium-sized units, a 20.4% increase over the 225 million units shipped in 2016.

The Company shipped 7.72 million square meters of panel in the fourth quarter 2017, an increase of 10.6% over the previous quarter. Blended area ASP for TFT-LCD panels averaged US$ 341 per square meter. Small and medium-sized panel revenue amounted to NT$ 19.1 billion in the fourth quarter 2017, an increase of 1.6% over the previous quarter. The company shipped 676.6 thousand square meter area of small and medium-sized during the fourth quarter 2017, a decrease of 0.5% over the previous quarter.     

In terms of product application, Mobile & CP, Mobile PC, Desktop, TV panels accounted for 28%, 16%, 11% and 45% of our net sales, respectively. In terms of product size, 10-inch and below, 10-to-20-inch, 20-to-30-inch, 40-inch-and -above panels accounted for 24%, 19%, 13%, and 41% of our net sales, respectively.

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