Innolux Corporation Announces Unaudited 2015 Second Quarter Net Income NT$5.4 Billion and EPS NT$0.54
MIAOLI, July 30, 2015 /PRNewswire-FirstCall/ -- Innolux Corporation ("INX", "The Company") (TAIEX: 3481) today announced its 2Q 2015 consolidated revenues. Combined net sales for 2Q 2015 amounted to NT$ 93.8 billion, gross profit was NT$ 15.6 billion, for a gross margin of 16.6%. Operating profit totaled NT$ 9.4 billion with an operating margin of 10%. Net profit amounted to NT$ 5.4 billion, for a net profit margin of 5.8%. EBITDA margin of 24.7%, EPS equaled NT$ 0.54.
In finance, the company's total debt came down to NT$68.1 billion, a decrease of NT$11.3billion over the previous quarter. Net debt to equity ratio came down to 12% from 17% in the previous quarter, from 64% year over year.
The Company shipped 7.24 million square meters of panel in the second quarter 2015, an increase of 3.2% over the previous quarter. Blended area ASP for TFT-LCD panels averaged US$ 417 per square meter. Small and medium-sized panel revenue amounted to NT$ 16.5 billion in the second quarter 2015, a decrease of 11.8% over the previous quarter. The company shipped 44.8 million square meter area of small and medium-sized during the second quarter 2015, an increase of 1.3% over the previous quarter.
In terms of product application, CP, Mobile PC & Tablet, Desktop monitor, LCD TV panels accounted for 20%, 13%, 10% and 57% of our net sales, respectively. In terms of product size, 10-inch and below, 10-to-20-inch, 20-to-30-inch, 30-to-40-inch, 40-inch-and -above panels accounted for 18%, 17%, 20%, 2%, and 43% of our net sales, respectively.
| INX Unaudited 2Q 2015 Income Statement - QoQ Comparison |
|||||||
| Units: NTD million except per share data |
2Q 2015 |
1Q 2015 |
QoQ% |
2Q 2014 |
|||
| Net Sales |
93,755 |
100,158 |
100.0% |
-6.4% |
111,064 |
100.0% |
|
| Cost of Goods Sold |
78,173 |
83.4% |
82,404 |
82.3% |
-5.1% |
99,470 |
89.6% |
| Gross Profit (Loss) |
15,583 |
16.6% |
17,754 |
17.7% |
-12.2% |
11,595 |
10.4% |
| Operating Expense |
6,190 |
6.6% |
6,523 |
6.5% |
-5.1% |
5,460 |
4.9% |
| Operating Income (Loss) |
9,393 |
10.0% |
11,231 |
11.2% |
-16.4% |
6,134 |
5.5% |
| Net Non-operating Income(Exp.) |
(2,047) |
-2.2% |
(1,170) |
-1.2% |
- |
(2,723) |
-2.5% |
| Income before Tax |
7,345 |
7.8% |
10,061 |
10.0% |
-27.0% |
3,411 |
3.1% |
| EBITDA(3) |
23,123 |
24.7% |
25,381 |
25.3% |
-8.9% |
21,559 |
19.4% |
| Net Income (Loss) |
5,406 |
5.8% |
8,651 |
8.6% |
-37.5% |
3,010 |
2.7% |
| Net Income (Loss)-Parent |
5,406 |
5.8% |
8,651 |
8.6% |
-37.5% |
3,011 |
2.7% |
| Basic EPS (1)(2) |
0.54 |
0.87 |
0.33 |
||||
| Notes: (1) Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common Shares (2) Capital Stock (common): NT$99.54 billion as of June 30,2015 (3) EBITDA = Operation Income + Depreciation & Amortization (4) All figures are unaudited, prepared by INX in accordance with the International Financial Reporting Standards as endorsed in R.O.C. (TIFRS). (5) INX combined figures presented refer to results from other TFT-LCD related subsidiaries in which INX has 50% or more ownership. Inter-company transactions between INX and these companies have been eliminated to avoid double-counting. |
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| INX Unaudited 2Q 2015 Balance Sheet |
|||
| Units: NT$ million |
2015.6.30 |
2015.3.31 |
2014.6.30 |
| Cash & Short Term Investment |
40,724 |
39,111 |
23,440 |
| Inventory |
33,221 |
33,302 |
45,738 |
| Total Assets |
401,083 |
422,985 |
463,078 |
| Short Term Debt (1) |
16,355 |
27,716 |
84,972 |
| Long Term Debt (2) |
51,790 |
51,765 |
63,907 |
| Shareholders' Equity (3) |
236,085 |
234,970 |
195,085 |
| Net Debt to Shareholders' Equity |
12% |
17% |
64% |
| Depreciation & Amortization |
13,731 |
14,150 |
15,425 |
| Capital Expenditure |
3,783 |
6,609 |
4,668 |
|
Notes: (1) Short term debt = (short-term bank loan + commercial papers + current portion of long term loan + obligations under capital leases) (2) Long term debt = (long-term bank loan + corporate bonds + obligations under capital leases) (3) Capital Stock (common): NT$99.54 billion; Book value per common stock: NT$ 23.72 as of June 30,2015 (4) All figures are unaudited, prepared by INX in accordance with the International Financial Reporting Standards as endorsed in R.O.C. (TIFRS). (5) INX combined figures presented refer to results from other TFT-LCD related subsidiaries in which INX has 50% or more ownership. Inter-company transactions between INX and these companies have been eliminated to avoid double-counting.
|
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| Announcement Contact: |
|
| Jyh-Chau Wang |
Anita Chien |
| Spokesperson |
Media Contact |
| Tel: +886-(0)6-505-3760 |
Tel: +886-(0)6-505-1888 ext.47153 |
| Email: [email protected] |
Cell: +886-(0)911-572-225 |
| Email: [email protected] |
SOURCE Innolux Corporation
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