Lite-On Technology (2301-tw) today reported fourth quarter 2016 consolidated sales of NT$63.3 billion, up 10% Y-o-Y, attributable to yearly growth of Invisible LED, Outdoor Lighting, High-end Camera Module, Storage and Automotive Electronics. Thanks to better product-mix and operating leverage, net profits were NT$2.59 billion with EPS of NT$1.11 and gross margin was 13.8% while operating margin reached 6.8%, up 1.7% Y-o-Y, hitting a quarterly record high.
     Lite-On posted 2016 consolidated revenue of NT$229.6 billion, up 6% Y-o-Y while gross margin and operation margin were 13.6% and 5.5% with growths of 0.6% Y-o-Y and 1.5% Y-o-Y respectively. Thanks to improvement of operational efficiency, net profits reached NT$9.42 billion, also hitting a record high; EPS were NT$4.05, up 30% Y-o-Y. The net cash position reached NT$30.9 billion through aggressive working capital management, coupled with a positive free cash flow generated from operation.
     In 2016, Lite-On’s core businesses showed stable development, driven by transformation of new businesses, such as Cloud Computing, Automotive Electronics and LED / Outdoor Lighting. Opto-electronics accounted a 24% share of total sales; thanks to increased demand of invisible LED and smooth delivery of vehicle lighting, market expansion of street lighting, coupled with growth of high-end camera module, Opto-electronics posted a revenue growth of 3% Y-o-Y.
     The Information Technologies business accounted for 49% of total revenue with 6% yearly increase, of which cloud computing products posted yearly growth, supported by shipment increase of high-end server and networking power management systems. Meanwhile, the growth was also driven by ongoing market share gains in HIS (Human Input Solutions - PC Keyboards and Peripherals) and delivery growth in laser models of Multi-Function Peripherals.
     The Storage business accounted for 19% of sales with a yearly growth of 30%, as a result of increasing demand from cloud computing.
     Thanks to its operational strategies with strong focus on profitability, Lite-on achieved the remarkable results in 2016. Looking ahead, the core business development is expected, despite the seasonality in 1Q17, supported by Cloud Computing, LED/Lighting and High-end CCM expansion.
     Meanwhile, Lite-On's Board has proposed a 2016 cash dividend plan offering NT$2.92 per share. The dividend payout ratio and cash yield reached 72% and ~6% respectively, maintaining a stable and generous dividend policy.

Press Contact:
Julia Wang,
Sr. Director of IR/PR
+886-2-8798-2888
Liteontech.IR@yizhaojr.com