Lite-On Technology (2301-tw) today reported second quarter consolidated sales of NT$53.79 billion, up 8% Q/Q and 4% Y/Y. Thanks to the enhanced product-mix and operational efficiency, coupled with revenue scale expansion, gross margin and operating margin were 12.7% and 4.4%, up 0.2% and 1.3% Y/Y respectively, and net profit reached NT$1.94 billion with EPS of NT$0.84, up 14% Q/Q and 36% Y/Y. Meanwhile, the net cash position reached NT$25.3 billion through aggressive working capital management as well as a positive free cash flow generated from operation.
In the first half of 2016, sales and profit enhanced quarter by quarter. The accumulative sales were NT$103.63 billion, and gross margin and operating margin were 12.9% and 4.3% with yearly increase of 0.4% and 1.1% respectively. The operating profit reached NT$4.42 billion with a remarkable growth of 34% Y/Y. Meanwhile, net profits were NT$3.65 billion, with EPS of NT$1.58, up 20% Y/Y.
Opto-electronics contributed a 23% share of total sales with a quarterly growth of 8%, which is attributable to ongoing market share gain of LED components, smooth delivery of vehicle and street lightings, coupled with increased shipment of high-end smartphones camera modules.
The Information Technologies business accounted for 49% of total revenue with a increase of over 10% Q/Q, resulting from the consecutive growth of power management systems driven by solid delivery of its clouding computing application products and growth of Multi-Function Peripherals laser models.
Storage business accounted for 20% of revenue. Thanks to increased demands from cloud computing and storage applications for Solid State Drive (SSD), it posted a sequential growth of 7% in the second quarter.
Consecutive growth and enhanced operational performance is expected in the third quarter, as a result of stable market demand growth, mainly from Cloud Computing, LED/Lighting, Gaming and Storage applications.
Press Contact:
Julia Wang,
Sr. Director of IR/PR
+886-2-8798-2888
Liteontech.IR@yizhaojr.com