Innolux Corporation Announces Unaudited Third Quarter 2014

INX Unaudited 3Q 2014 Income Statement - QoQ Comparison

Units: NTD million except per share data

3Q 2014

2Q 2014

QoQ%

3Q 2013

Net Sales

113,092

100.0%

111,064

100.0%

1.8%

97,217

100.0%

   Cost of Goods Sold

98,582

87.2%

99,470

89.6%

-0.9%

87,264

89.8%

Gross Profit (Loss)

14,510

12.8%

11,595

10.4%

25.1%

9,953

10.2%

    Operating Expense

5,500

4.9%

5,460

4.9%

0.7%

6,052

6.2%

Operating Income (Loss)

9,010

8.0%

6,134

5.5%

46.9%

3,901

4.0%

Net Non-operating Income(Exp.)

(1,269)

-1.1%

(2,723)

-2.5%

-

(2,970)

-3.1%

Income before Tax

7,741

6.8%

3,411

3.1%

126.9%

931

1.0%

EBITDA⁽¹⁾

23,585

20.9%

21,559

19.4%

9.4%

22,991

23.6%

Net Income (Loss)

7,360

6.5%

3,010

2.7%

144.5%

683

0.7%

Net Income (Loss)-Parent

7,359

6.5%

3,011

2.7%

144.4%

685

0.7%

Basic EPS ⁽²⁾

0.77

0.33

0.08

Notes:

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

(2) Capital Stock (common): NT$99.55 billion

(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.

INX Unaudited 3Q 2014 Balance Sheet

NT$ million

2014.9.30

2014.6.30

2013.9.30

Cash & Short Term Investment

32,836

23,440

39,076

Inventory

38,390

45,738

50,541

Total Assets

457,268

463,078

513,447

Short Term Debt ⁽¹⁾

73,692

84,972

90,539

Long Term Debt ⁽²⁾

53,664

63,907

118,157

Shareholders' Equity ⁽³⁾

213,959

195,085

193,682

Net Debt to Shareholders' Equity

44.2%

64.30%

87.60%

Depreciation & Amortization

14,576

15,425

19,090

Capital Expenditure

5,749

4,668

4,877

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$99.55 billion; Book value per common stock: NT$ 21.49

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