Taiwanese LED manufacturer Lite-On reported double digit growth for third quarter of 2016, reported Money DJ.
The company’s revenue hit an all-time high from July to September, with revenue last month climbing up 5.7% monthly or 8.1% YoY to NT $22.26 billion.
Overall, the company’s revenue during second half of 2016 outshone first half of the year, mainly from power devices and servers growing market shares. Gaming console power supply shipments entered peak season, while Lite-On’s smartphone camera modules benefited from the growing usage of dual lens cameras, data storage devices such as SSD modules, and growth from data center applications.
Founded in 1975, Lite-On initially was focused on making LED products, following a series of merges over the last few years the company integrated its subsidiaries into its eight major business groups, including wearable devices, optoelectronics and other emerging industries.
The company is prioritizing six application fields this year including cloud computing, mobile devices, LED lighting applications, SSD, automotive electronics and gaming consoles.
Despite, the easing global PC and smartphone market, the company’s product portfolio and client structure changes has allowed it to control costs and resulted in improvements in its revenue and gross margins in first half of 2016. The company’s revenue is expected to improve during second half of the year.
Additionally, Lite-On has been actively deploying its market strategy in biotechnology applications, which it plans will contribute to its revenue starting from 2017. Initially, the company will be focused on personalized biochemical devices and products.
Its revenue from third quarter was up 17% compared to last quarter or 12% YoY to approximately NT$ 62.68 billion, and its accumulated revenue for the first three quarters was up 4.45% to about NT $166.27 billion.
The company reported its revenue for first half of 2016 was NT$ 10.63 billion. Lite-On’s gross margin and operating profit margin were respectively 12.9% and 4.3%, up 0.4% and 1.1% compared to the same period from last year.
Its operating profit rose 34% to reach NT $4.42 billion, while the net profit was reportedly NT $ 3.65 billion.
The company’s revenue hit an all-time high from July to September, with revenue last month peaking up 5.7% monthly or 8.1% YoY to NT $22.26 billion.
