Innolux Corporation Announces Unaudited First Quarter 2013

INX Unaudited 1Q 2013 Income Statement – QoQ Comparison

Units: NTD million except per share data

1Q 2013

4Q 2012

 QoQ% 

1Q 2012

Net Sales

116,775

129,603

-9.9%

109,236

   Cost of Goods Sold

107,734

92.3%

120,143

92.7%

-10.3%

116,060

106.2%

Gross Profit (Loss)

9,041

7.7%

9,460

7.3%

-4.4%

(6,824)

-6.2%

    Operating Expense

5,748

4.9%

6,328

4.9%

-9.2%

5,305

4.9%

Operating Income (Loss)

3,293

2.8%

3,132

2.4%

5.1%

(12,129)

-11.1%

Net Non-operating Income(Exp.)

(1,607)

-1.4%

(6,416)

-5.0%

-

(738)

-0.7%

Income before Tax

1,686

1.4%

(3,284)

-2.5%

-

(12,868)

-11.8%

EBITDA⁽¹⁾

24,130

20.7%

23,870

18.4%

1.1%

9,954

9.1%

Net Income (Loss)

1,683

1.4%

(3,255)

-2.5%

-

(12,765)

-11.7%

Net Income (Loss)-Parent

1,684

1.4%

(3,254)

-2.5%

-

(12,766)

-11.7%

Basic EPS ⁽²⁾

0.19

(0.43)

(1.75)

Notes:

(1)        EBITDA = Operating Income + Depreciation & Amortization

(2)        Basic EPS = Net Income-Parent / Weighted Average of Outstanding Common Shares

(3)        Capital Stock (common): NT$91.02 billion

(4)        All figures are unaudited, prepared by Innolux Corporation. Starting 2013, Innolux Corporation prepares financial

             statements in accordance with the International Financial Reporting Standards as endorsed in R.O.C. (TIFRS).

(5)        Combined figures presented refer to results from other TFT-LCD related subsidiaries in which Innolux

             Corporation has 50% or more ownership. Inter-company transactions between Innolux Corporation and these

             companies have been eliminated to avoid double-counting.

INX Unaudited 1Q 2013 Balance Sheet

NT$ million

2013.3.31

2012.12.31

2012.3.31

Cash & Short Term Investment

40,780

39,056

58,255

Inventory

45,161

42,035

60,986

Total Assets

557,659

573,125

643,862

Short Term Debt ⁽¹⁾

100,413

117,183

113,663

Long Term Debt ⁽²⁾

142,744

152,100

215,495

Shareholders' Equity ⁽³⁾

190,269

170,809

183,355

Net Debt to Shareholders' Equity

106.4%

134.8%

147.7%

Depreciation & Amortization

20,837

20,738

22,083

Capital Expenditure

4,454

5,882

3,399

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$91.02 billion; Book value per common stock: NT$ 20.90

(4)     All figures are unaudited, prepared by Innolux Corporation. Starting 2013, Innolux Corporation prepares

         financial statements in accordance with the International Financial Reporting Standards as endorsed in

         R.O.C. (TIFRS).

(5)     Combined figures presented refer to results from other TFT-LCD related subsidiaries in which Innolux

          Corporation has 50% or more ownership. Inter-company transactions between Innolux Corporation and

          these companies have been eliminated to avoid double-counting.

Announcement Contact:

Chen-Hui Lin

Anita Chien

Spokesperson

Media Contact

Tel: +886-(0)6-505-3760

Tel: +886-(0)6-505-1888 ext.47153

Cell: +886-(0)968-960-866

Cell: +886-(0)911-572-225

Email: [email protected]

Email: [email protected]