Lite-On Technology (2301-tw) today reported fourth quarter 2013 consolidated sales of NT$59.36 billion, up 12% Y-o-Y and 4% Q-o-Q, hitting a 10-quarter record high. Net profits were 2.52 billion, up 9% Y-o-Y and 4% Q-o-Q with EPS of NT$1.09, hitting a quarterly profit high in 2013. This is attributable to the solid growth from Lite-On core products, namely camera modules, LED components and Lighting, high-end server and networking power systems, solid state drives (SSD), automotive electronics and game console application products. The gross margin and operating margin in Q4 were 13.3% and 4.4% respectively.
     Despite decreased demands from the global PC market in 2013, Lite-On’s annual consolidated sales reached NT$213.2 billion and net profits were NT$8.76 billion, up 18% Y-o-Y with EPS of NT$3.83. The gross margin and operating margin were 14.3% and 4.7% respectively, of which R&D increased approximately 10% Y-o-Y, further strengthening Lite-On’s areas of core competence in optoelectronics, as well as its worldwide leading position. Net cash position reached NT$23 billion through aggressive working capital management, coupled with a positive free cash flow generated from operations.
     In 2013, stable growth was achieved in the six major applications/products of Lite-On’s core business ― high-end server and networking power systems for cloud computing application, mobiles devices, LED Lighting applications, automotive electronics, Solid State Drives (SSD) and game consoles ― which accounted for over 40% of Lite-On’s overall revenue, as well as posting a growth of over 40% Y-o-Y. Power SBG showed consecutive revenue growth, while Camera Module sales presented a yearly growth of 30%, supported by high-mega pixel product expansion and market share gains, hitting another record high; LED components and Lighting revenue also presented a growth of approximately 20% Y-o-Y, of which LED street light revenue increased over 50% Y-o-Y driven by increased demand for energy saving solutions in North America and Taiwan; and vehicle LED lighting revenue was up over 20% Y-o-Y. As for storage devices, thanks to increased demand and ongoing market share gains, Solid State Drive (SSD) and products for game console applications posted impressive yearly growth.
     Lite-On's Board has proposed a 2013 dividend plan offering NT$ 2.76 per share. Of that sum, the cash and stock dividend portions will be NT$2.71 and NT$0.05 per share respectively. The dividend payout ratio and cash yield reached 72 % and 6.3% respectively, maintaining a stable and generous dividend policy. Lite-On Board also approved the acquisition of 100% stake of LarView Technologies. This acquisition is expected to result in the further enhancement of production automation of high-mega pixel camera modules, the obtaining of miniature packaging technology, coupled with the R&D team, while accelerating production capacity expansion for high-mega pixel camera modules in order to promptly meet rapid end-market growth and increased customer demands.

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